Fort Pitt Capital Group LLC bought a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,296 shares of the transportation company’s stock, valued at approximately $778,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its holdings in Delta Air Lines by 124.6% in the third quarter. Voya Investment Management LLC now owns 3,957,919 shares of the transportation company’s stock worth $227,976,000 after purchasing an additional 2,195,893 shares in the last quarter. GQG Partners LLC bought a new position in Delta Air Lines in the 4th quarter worth about $120,638,000. Alliancebernstein L.P. increased its stake in Delta Air Lines by 18.0% in the 4th quarter. Alliancebernstein L.P. now owns 8,147,971 shares of the transportation company’s stock worth $476,493,000 after acquiring an additional 1,241,210 shares during the last quarter. Miller Howard Investments Inc. NY bought a new position in Delta Air Lines in the 4th quarter worth about $71,369,000. Finally, Janus Henderson Group PLC increased its stake in Delta Air Lines by 27.0% in the 4th quarter. Janus Henderson Group PLC now owns 5,455,725 shares of the transportation company’s stock worth $319,050,000 after acquiring an additional 1,159,318 shares during the last quarter. Institutional investors own 85.98% of the company’s stock.
Several equities analysts have recently commented on the company. Cfra reduced their price objective on Delta Air Lines from $75.00 to $59.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Argus cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Wednesday, March 11th. Stephens increased their price objective on Delta Air Lines from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Buckingham Research increased their price objective on Delta Air Lines from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Wolfe Research cut Delta Air Lines from an “outperform” rating to a “peer perform” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $63.26.
NYSE DAL traded up $2.73 on Thursday, hitting $33.83. 7,582,792 shares of the company traded hands, compared to its average volume of 33,174,870. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 4.62, a P/E/G ratio of 0.81 and a beta of 1.27. The company has a current ratio of 0.41, a quick ratio of 0.35 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average price is $46.81 and its 200-day moving average price is $54.60. Delta Air Lines, Inc. has a 52-week low of $19.10 and a 52-week high of $63.44.
Delta Air Lines (NYSE:DAL) last released its earnings results on Tuesday, January 14th. The transportation company reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.30. Delta Air Lines had a return on equity of 33.32% and a net margin of 10.14%. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.37 billion. During the same period in the previous year, the business earned $1.30 earnings per share. Delta Air Lines’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Delta Air Lines, Inc. will post 4.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.4025 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 4.76%.
In other news, COO W Gilbert West sold 8,700 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $59.18, for a total transaction of $514,866.00. Following the transaction, the chief operating officer now directly owns 57,834 shares of the company’s stock, valued at $3,422,616.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 976,507 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $46.40 per share, for a total transaction of $45,309,924.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 980,532 shares of company stock worth $45,522,339. Insiders own 0.47% of the company’s stock.
Delta Air Lines 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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