Strategic Financial Concepts LLC Acquires Shares of 75,130 Delta Air Lines, Inc. (NYSE:DAL)

Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the second quarter, HoldingsChannel reports. The institutional investor bought 75,130 shares of the transportation company’s stock, valued at approximately $36,000.

Several other large investors have also made changes to their positions in DAL. Wellington Management Group LLP raised its holdings in Delta Air Lines by 220.2% during the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after purchasing an additional 5,914,301 shares during the last quarter. Capital International Investors raised its stake in shares of Delta Air Lines by 8.8% during the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after buying an additional 1,689,053 shares during the last quarter. Norges Bank acquired a new position in Delta Air Lines in the fourth quarter valued at approximately $65,056,000. Royal London Asset Management Ltd. boosted its stake in Delta Air Lines by 27.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after acquiring an additional 1,376,221 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Delta Air Lines by 96.1% during the 1st quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock worth $119,057,000 after acquiring an additional 1,219,074 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Activity

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction that occurred on Friday, July 12th. The stock was acquired at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $878,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Trading Up 2.0 %

Shares of NYSE:DAL opened at $44.28 on Thursday. The firm has a market cap of $28.57 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.93 and a beta of 1.34. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86. The company’s fifty day simple moving average is $42.35 and its 200 day simple moving average is $46.08. 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 released its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). The firm had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 EPS. As a group, research analysts forecast that Delta Air Lines, Inc. will post 5.94 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a dividend of $0.15 per share. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup increased their price target on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. TD Cowen cut their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Sanford C. Bernstein decreased their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. Finally, Jefferies Financial Group cut their price target on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $60.70.

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 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.