Quest Investment Management LLC cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 75.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,762 shares of the transportation company’s stock after selling 156,984 shares during the period. Quest Investment Management LLC’s holdings in Delta Air Lines were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its position in Delta Air Lines by 32.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 664,239 shares of the transportation company’s stock valued at $32,906,000 after purchasing an additional 160,879 shares during the period. Mackay Shields LLC lifted its position in Delta Air Lines by 1.7% during the 2nd quarter. Mackay Shields LLC now owns 529,642 shares of the transportation company’s stock valued at $26,238,000 after purchasing an additional 8,900 shares during the period. Markel Corp acquired a new position in Delta Air Lines during the 2nd quarter valued at about $1,090,000. Axel Capital Management LLC acquired a new position in Delta Air Lines during the 2nd quarter valued at about $3,666,000. Finally, Boston Partners lifted its position in Delta Air Lines by 5.2% during the 2nd quarter. Boston Partners now owns 12,399,764 shares of the transportation company’s stock valued at $614,285,000 after purchasing an additional 608,231 shares during the period. Institutional investors own 87.68% of the company’s stock.
In related news, VP Craig M. Meynard sold 1,793 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $54.31, for a total transaction of $97,377.83. Following the completion of the sale, the vice president now directly owns 7,170 shares of the company’s stock, valued at approximately $389,402.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO W Gilbert West sold 11,391 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $53.30, for a total value of $607,140.30. Following the sale, the chief operating officer now directly owns 83,056 shares of the company’s stock, valued at $4,426,884.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,681 shares of company stock valued at $5,136,493. 0.33% of the stock is owned by company insiders.
Delta Air Lines opened at $54.71 on Friday, according to Marketbeat Ratings. Delta Air Lines, Inc. has a 52-week low of $44.59 and a 52-week high of $60.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.40 and a quick ratio of 0.31. The company has a market cap of $38.26 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 0.49 and a beta of 1.09.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 12th. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.05. Delta Air Lines had a return on equity of 26.75% and a net margin of 7.72%. The business had revenue of $11.78 billion during the quarter, compared to analysts’ expectations of $11.73 billion. During the same period in the prior year, the business earned $1.64 EPS. Delta Air Lines’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts expect that Delta Air Lines, Inc. will post 5.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 16th. Investors of record on Thursday, July 26th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.56%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, July 25th. Delta Air Lines’s dividend payout ratio is presently 28.40%.
A number of analysts have recently commented on the company. Imperial Capital upped their price target on Delta Air Lines from $68.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, June 1st. Morgan Stanley upped their price target on Delta Air Lines from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, April 20th. Cfra reaffirmed a “buy” rating and issued a $70.00 price target on shares of Delta Air Lines in a research note on Monday, June 18th. ValuEngine cut Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Finally, Zacks Investment Research cut Delta Air Lines from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $66.36.
Delta Air Lines Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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