Lafayette Investments Inc. lifted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 64,880 shares of the transportation company’s stock after purchasing an additional 2,360 shares during the quarter. Lafayette Investments Inc.’s holdings in Delta Air Lines were worth $3,682,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. MACRO Consulting Group boosted its position in Delta Air Lines by 1.6% during the 2nd quarter. MACRO Consulting Group now owns 28,527 shares of the transportation company’s stock worth $1,619,000 after acquiring an additional 455 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in Delta Air Lines by 3.2% during the 2nd quarter. Cetera Advisor Networks LLC now owns 17,886 shares of the transportation company’s stock worth $1,015,000 after acquiring an additional 548 shares during the last quarter. Cetera Advisors LLC boosted its position in Delta Air Lines by 1.2% during the 2nd quarter. Cetera Advisors LLC now owns 117,829 shares of the transportation company’s stock worth $6,701,000 after acquiring an additional 1,436 shares during the last quarter. Intrust Bank NA boosted its position in Delta Air Lines by 26.5% during the 2nd quarter. Intrust Bank NA now owns 14,267 shares of the transportation company’s stock worth $810,000 after acquiring an additional 2,986 shares during the last quarter. Finally, Pearl River Capital LLC acquired a new position in Delta Air Lines during the 2nd quarter worth approximately $82,000. Institutional investors and hedge funds own 85.54% of the company’s stock.
In related news, COO W Gilbert West sold 10,342 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $62.64, for a total value of $647,822.88. Following the sale, the chief operating officer now owns 82,992 shares in the company, valued at approximately $5,198,618.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 6,384 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $61.96, for a total value of $395,552.64. Following the completion of the sale, the senior vice president now owns 23,010 shares in the company, valued at approximately $1,425,699.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,285 shares of company stock worth $5,219,381. Company insiders own 0.47% of the company’s stock.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The company had revenue of $12.54 billion for the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Analysts predict that Delta Air Lines, Inc. will post 7.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th were paid a dividend of $0.4025 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s dividend payout ratio is currently 28.50%.
A number of research firms have weighed in on DAL. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Friday. ValuEngine downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley upped their price target on Delta Air Lines from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Stephens reaffirmed an “overweight” rating and set a $70.00 price target on shares of Delta Air Lines in a research report on Wednesday, July 3rd. Finally, Berenberg Bank began coverage on Delta Air Lines in a research report on Friday. They set a “buy” rating and a $72.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.12.
Delta Air Lines Company 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 and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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