Profund Advisors LLC raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,861 shares of the transportation company’s stock after buying an additional 3,691 shares during the quarter. Profund Advisors LLC’s holdings in Delta Air Lines were worth $1,224,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAL. Victory Capital Management Inc. grew its holdings in Delta Air Lines by 15.6% during the 3rd quarter. Victory Capital Management Inc. now owns 42,951 shares of the transportation company’s stock valued at $2,071,000 after buying an additional 5,791 shares in the last quarter. Swiss National Bank lifted its stake in shares of Delta Air Lines by 1.7% in the 3rd quarter. Swiss National Bank now owns 676,907 shares of the transportation company’s stock valued at $32,640,000 after purchasing an additional 11,300 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Delta Air Lines by 148.9% in the 3rd quarter. Bessemer Group Inc. now owns 6,329 shares of the transportation company’s stock valued at $306,000 after purchasing an additional 3,786 shares during the last quarter. FDx Advisors Inc. lifted its stake in shares of Delta Air Lines by 8.9% in the 3rd quarter. FDx Advisors Inc. now owns 19,080 shares of the transportation company’s stock valued at $920,000 after purchasing an additional 1,555 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Delta Air Lines by 28.6% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 632,929 shares of the transportation company’s stock valued at $30,520,000 after purchasing an additional 140,664 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
In related news, CEO Edward H. Bastian sold 73,211 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $56.04, for a total transaction of $4,102,744.44. Following the completion of the sale, the chief executive officer now directly owns 338,719 shares of the company’s stock, valued at approximately $18,981,812.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO W Gilbert West sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $56.06, for a total value of $504,540.00. Following the sale, the chief operating officer now directly owns 61,872 shares of the company’s stock, valued at $3,468,544.32. The disclosure for this sale can be found here. Insiders have sold a total of 323,638 shares of company stock valued at $18,537,123 over the last three months. 0.37% of the stock is owned by corporate insiders.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, January 11th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.08. Delta Air Lines had a return on equity of 26.27% and a net margin of 8.67%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the company earned $0.82 EPS. Delta Air Lines’s quarterly revenue was up 8.3% compared to the same quarter last year. analysts anticipate that Delta Air Lines, Inc. will post 6.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, February 22nd. Delta Air Lines’s dividend payout ratio is currently 24.70%.
Several research firms have recently issued reports on DAL. Imperial Capital reaffirmed an “outperform” rating and issued a $65.00 price objective (up from $63.00) on shares of Delta Air Lines in a research note on Friday, January 12th. Stephens set a $67.00 price objective on Delta Air Lines and gave the company a “buy” rating in a research note on Monday, December 18th. Sanford C. Bernstein set a $67.00 price objective on Delta Air Lines and gave the company a “buy” rating in a research note on Wednesday, January 10th. Vetr raised Delta Air Lines from a “strong sell” rating to a “sell” rating and set a $49.97 price objective for the company in a research note on Wednesday, January 3rd. Finally, Cowen raised their price objective on Delta Air Lines from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $67.05.
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About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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