Clark Estates Inc. NY Acquires Shares of 375,000 Delta Air Lines, Inc. (DAL)
Clark Estates Inc. NY acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 375,000 shares of the transportation company’s stock, valued at approximately $19,369,000. Delta Air Lines comprises 3.0% of Clark Estates Inc. NY’s holdings, making the stock its 10th biggest position.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Washington Trust Bank lifted its holdings in shares of Delta Air Lines by 141.3% during the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after buying an additional 284 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new stake in shares of Delta Air Lines during the 1st quarter valued at about $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Delta Air Lines during the 1st quarter valued at about $26,000. Northwest Wealth Management LLC acquired a new stake in shares of Delta Air Lines during the 1st quarter valued at about $26,000. Finally, Paragon Capital Management LLC acquired a new stake in shares of Delta Air Lines during the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 90.56% of the company’s stock.
DAL opened at $54.00 on Friday. Delta Air Lines, Inc. has a twelve month low of $45.08 and a twelve month high of $61.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.29. The company has a market capitalization of $35.91 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.59 and a beta of 1.13.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 2nd were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $1.40 annualized dividend and a yield of 2.59%. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.78%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Morgan Stanley lowered Delta Air Lines from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $62.00 to $61.00 in a report on Monday. Imperial Capital reiterated an “in-line” rating and set a $58.00 price target on shares of Delta Air Lines in a report on Thursday, April 11th. Vertical Research assumed coverage on Delta Air Lines in a report on Monday, February 4th. They set a “hold” rating for the company. Finally, Credit Suisse Group lifted their price target on Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.56.
In other Delta Air Lines news, EVP Peter W. Carter sold 25,000 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the transaction, the executive vice president now directly owns 85,295 shares of the company’s stock, valued at approximately $4,947,962.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Edward H. Bastian sold 30,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total value of $1,725,000.00. Following the completion of the transaction, the chief executive officer now directly owns 354,191 shares in the company, valued at $20,365,982.50. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,554,538 shares of company stock valued at $175,828,075 and sold 96,465 shares valued at $5,584,102. 0.47% of the stock is currently owned by insiders.
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 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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