Beech Hill Advisors Inc. bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 67,575 shares of the transportation company’s stock, valued at approximately $3,258,000. Delta Air Lines makes up about 1.7% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 28th largest position.
Several other hedge funds and other institutional investors also recently modified their holdings of DAL. FNY Managed Accounts LLC purchased a new stake in Delta Air Lines in the 1st quarter valued at about $100,000. Mountain Capital Investment Advisors Inc purchased a new stake in Delta Air Lines in the 2nd quarter valued at about $114,000. BB&T Investment Services Inc. purchased a new stake in shares of Delta Air Lines during the 2nd quarter worth about $128,000. Bessemer Group Inc. grew its holdings in shares of Delta Air Lines by 104.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock worth $137,000 after purchasing an additional 1,298 shares during the period. Finally, Advisory Services Network LLC grew its holdings in shares of Delta Air Lines by 3.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after purchasing an additional 75 shares during the period. Institutional investors own 87.61% of the company’s stock.
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Shares of Delta Air Lines, Inc. (DAL) traded down $0.05 during mid-day trading on Friday, reaching $49.14. The company had a trading volume of 2,446,188 shares, compared to its average volume of 6,770,000. Delta Air Lines, Inc. has a fifty-two week low of $43.81 and a fifty-two week high of $55.75. The company has a market capitalization of $35,140.00, a PE ratio of 10.43, a P/E/G ratio of 1.52 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.43 and a quick ratio of 0.36.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. The business had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. Delta Air Lines’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 earnings per share. sell-side analysts expect that Delta Air Lines, Inc. will post 5.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, November 16th. Delta Air Lines’s dividend payout ratio is currently 24.45%.
In other news, insider Steven M. Sear sold 6,898 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $53.01, for a total transaction of $365,662.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director George N. Mattson acquired 6,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were bought at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the acquisition, the director now owns 61,510 shares in the company, valued at approximately $2,795,014.40. The disclosure for this purchase can be found here. Over the last three months, insiders sold 200,001 shares of company stock valued at $10,630,333. Company insiders own 0.37% of the company’s stock.
A number of research firms have weighed in on DAL. Cowen and Company upped their price target on Delta Air Lines from $58.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Evercore ISI restated an “outperform” rating and issued a $66.00 price target on shares of Delta Air Lines in a report on Friday, July 14th. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target (up previously from $75.00) on shares of Delta Air Lines in a report on Friday, July 14th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $62.00 target price (up from $58.00) on shares of Delta Air Lines in a research report on Friday, July 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $62.00 target price (down from $63.00) on shares of Delta Air Lines in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $64.16.
Delta Air Lines Profile
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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