Delta Air Lines, Inc. (DAL) Director Acquires $272,640.00 in Stock
Delta Air Lines, Inc. (NYSE:DAL) Director George N. Mattson purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the acquisition, the director now owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Delta Air Lines, Inc. (DAL) opened at 46.68 on Monday. Delta Air Lines, Inc. has a 12-month low of $35.90 and a 12-month high of $55.75. The firm has a market capitalization of $33.98 billion, a PE ratio of 9.25 and a beta of 1.20. The company’s 50-day moving average price is $50.82 and its 200 day moving average price is $49.40.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The business had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the previous year, the firm earned $1.47 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.305 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.61%. Delta Air Lines’s payout ratio is presently 24.25%.
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Several equities analysts have weighed in on DAL shares. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research note on Tuesday, July 4th. Vetr raised Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 price target on the stock in a research report on Monday, May 8th. Bank of America Corporation raised their price target on Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Citigroup Inc. raised their price target on Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Finally, ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Delta Air Lines presently has an average rating of “Buy” and an average target price of $62.16.
Several large investors have recently modified their holdings of DAL. FNY Managed Accounts LLC acquired a new stake in shares of Delta Air Lines during the first quarter worth about $100,000. TrimTabs Asset Management LLC increased its position in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock valued at $111,000 after buying an additional 1,136 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Delta Air Lines during the first quarter valued at $114,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Delta Air Lines during the second quarter valued at $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock valued at $127,000 after buying an additional 793 shares in the last quarter. 86.48% of the stock is owned by hedge funds and other institutional investors.
Delta Air Lines Company 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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