Delta Air Lines, Inc. (NYSE:DAL) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 62.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,928 shares of the transportation company’s stock after buying an additional 11,881 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Delta Air Lines were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new position in Delta Air Lines during the second quarter worth $36,000. Rise Advisors LLC raised its position in Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 452 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in Delta Air Lines during the 2nd quarter worth $40,000. Richard W. Paul & Associates LLC boosted its stake in shares of Delta Air Lines by 68.7% during the second quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after buying an additional 357 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in Delta Air Lines during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling at Delta Air Lines

In related news, Director Willie Cw Chiang purchased 10,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were bought at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on DAL shares. Jefferies Financial Group decreased their price target on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. TD Cowen cut their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. 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, BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $61.52.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $51.54 on Monday. The firm’s fifty day moving average price is $42.79 and its 200 day moving average price is $46.55. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The company has a market capitalization of $33.26 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of 0.90 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.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.01). The business 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 company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $2.68 earnings per share. On average, research analysts forecast that Delta Air Lines, Inc. will post 6.18 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.16%. Delta Air Lines’s payout ratio is currently 8.63%.

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.