Hosking Partners LLP reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,875,880 shares of the transportation company’s stock after selling 9,870 shares during the quarter. Delta Air Lines makes up 2.5% of Hosking Partners LLP’s investment portfolio, making the stock its 8th largest holding. Hosking Partners LLP’s holdings in Delta Air Lines were worth $96,889,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of DAL. Mizuho Securities Co. Ltd. bought a new stake in Delta Air Lines in the 1st quarter valued at $103,000. Payden & Rygel boosted its holdings in Delta Air Lines by 6.1% in the 1st quarter. Payden & Rygel now owns 540,700 shares of the transportation company’s stock valued at $27,927,000 after purchasing an additional 31,100 shares during the period. Econ Financial Services Corp boosted its holdings in Delta Air Lines by 14.3% in the 1st quarter. Econ Financial Services Corp now owns 5,480 shares of the transportation company’s stock valued at $283,000 after purchasing an additional 684 shares during the period. Reaves W H & Co. Inc. boosted its holdings in Delta Air Lines by 2.5% in the 1st quarter. Reaves W H & Co. Inc. now owns 862,803 shares of the transportation company’s stock valued at $44,564,000 after purchasing an additional 20,801 shares during the period. Finally, Buckingham Capital Management Inc. boosted its holdings in Delta Air Lines by 7.8% in the 1st quarter. Buckingham Capital Management Inc. now owns 73,121 shares of the transportation company’s stock valued at $3,777,000 after purchasing an additional 5,274 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.
DAL has been the subject of a number of research reports. Stephens set a $63.00 price target on shares of Delta Air Lines and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their price target on shares of Delta Air Lines from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Zacks Investment Research downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Deutsche Bank downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 price target for the company. in a report on Friday, March 1st. Finally, Buckingham Research increased their price target on shares of Delta Air Lines from $62.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.09.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The company had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. During the same period last year, the firm earned $0.74 EPS. On average, equities research analysts expect that Delta Air Lines, Inc. will post 6.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 2nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, May 1st. Delta Air Lines’s payout ratio is 24.78%.
In related news, EVP Peter W. Carter sold 25,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the sale, the executive vice president now owns 85,295 shares in the company, valued at approximately $4,947,962.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,202,961 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $49.65 per share, with a total value of $59,727,013.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,554,538 shares of company stock valued at $175,828,075 and have sold 145,901 shares valued at $8,125,848. 0.47% of the stock is currently owned by company insiders.
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 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.
Further Reading: Gap Up Stocks
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