Stratos Wealth Partners LTD. trimmed its stake in Delta Air Lines, Inc. (NYSE:DAL) by 15.9% during the first quarter, HoldingsChannel reports. The fund owned 7,576 shares of the transportation company’s stock after selling 1,436 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Delta Air Lines were worth $391,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Pineno Levin & Ford Asset Management Inc. grew its holdings in Delta Air Lines by 0.4% in the 1st quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,643 shares of the transportation company’s stock valued at $2,719,000 after buying an additional 190 shares during the last quarter. Keystone Financial Group grew its holdings in Delta Air Lines by 5.6% in the 1st quarter. Keystone Financial Group now owns 4,433 shares of the transportation company’s stock valued at $229,000 after buying an additional 234 shares during the last quarter. First Manhattan Co. grew its holdings in Delta Air Lines by 39.7% in the 1st quarter. First Manhattan Co. now owns 838 shares of the transportation company’s stock valued at $43,000 after buying an additional 238 shares during the last quarter. First Heartland Consultants Inc. grew its holdings in Delta Air Lines by 1.7% in the 4th quarter. First Heartland Consultants Inc. now owns 16,428 shares of the transportation company’s stock valued at $820,000 after buying an additional 272 shares during the last quarter. Finally, Selway Asset Management grew its holdings in shares of Delta Air Lines by 1.1% during the 1st quarter. Selway Asset Management now owns 24,690 shares of the transportation company’s stock worth $1,275,000 after purchasing an additional 275 shares in the last quarter. 90.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of Delta Air Lines stock traded down $0.17 during midday trading on Friday, hitting $53.83. 46,285 shares of the company were exchanged, compared to its average volume of 7,190,663. 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 $35.60 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.59 and a beta of 1.13. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $61.32.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.60%. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.78%.
Several analysts have recently weighed in on the company. Citigroup lifted their price objective on Delta Air Lines from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Credit Suisse Group lifted their price objective on Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Raymond James lifted their price objective on Delta Air Lines from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Monday, April 15th. Finally, Imperial Capital reissued an “in-line” rating and set a $58.00 price objective on shares of Delta Air Lines in a report on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.56.
In related news, major shareholder Berkshire Hathaway Inc bought 1,202,961 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $49.65 per share, for a total transaction of $59,727,013.65. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO W Gilbert West sold 7,465 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $58.52, for a total value of $436,851.80. Following the transaction, the chief operating officer now owns 94,933 shares of the company’s stock, valued at approximately $5,555,479.16. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 3,554,538 shares of company stock valued at $175,828,075 and have sold 96,465 shares valued at $5,584,102. 0.47% of the stock is owned by company insiders.
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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