Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,810 shares of the transportation company’s stock after selling 4,027 shares during the period. CIBC Asset Management Inc’s holdings in Delta Air Lines were worth $4,118,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DAL. Van ECK Associates Corp acquired a new stake in shares of Delta Air Lines during the 4th quarter worth about $102,000. Natixis Advisors L.P. boosted its stake in shares of Delta Air Lines by 12.1% during the 4th quarter. Natixis Advisors L.P. now owns 89,919 shares of the transportation company’s stock worth $3,617,000 after purchasing an additional 9,714 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Delta Air Lines by 22.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,143 shares of the transportation company’s stock worth $86,000 after purchasing an additional 388 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Delta Air Lines by 17.0% during the 4th quarter. Merit Financial Group LLC now owns 14,106 shares of the transportation company’s stock worth $567,000 after acquiring an additional 2,053 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Delta Air Lines during the 4th quarter worth about $367,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Delta Air Lines

In related news, Director Willie Cw Chiang purchased 10,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was acquired at an average price of $43.90 per share, with a total value of $439,000.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 0.0 %

DAL opened at $42.36 on Thursday. The firm has a market capitalization of $27.34 billion, a P/E ratio of 6.09, a P/E/G ratio of 0.93 and a beta of 1.35. The firm’s 50 day moving average is $42.78 and its 200-day moving average is $46.01. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $53.86. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 EPS. Analysts expect that Delta Air Lines, Inc. will post 5.94 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, July 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

Analyst Ratings Changes

Several brokerages have recently weighed in on DAL. Citigroup increased their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. HSBC began coverage on shares of Delta Air Lines in a report on Monday, May 13th. They set a “buy” rating and a $72.80 price objective on the stock. Jefferies Financial Group cut their price objective on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Sanford C. Bernstein cut their price objective on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. Finally, TD Cowen cut their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Delta Air Lines has an average rating of “Buy” and an average price target of $60.70.

About Delta Air Lines

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.