Westside Investment Management Inc. Purchases Shares of 21,835 Delta Air Lines, Inc. (NYSE:DAL)

Westside Investment Management Inc. purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,835 shares of the transportation company’s stock, valued at approximately $35,675,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its position in shares of Delta Air Lines by 36.0% during the second quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock worth $35,000 after acquiring an additional 164 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. increased its position in shares of Delta Air Lines by 0.4% during the first quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,643 shares of the transportation company’s stock worth $2,719,000 after acquiring an additional 190 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Delta Air Lines by 14.0% during the first quarter. Global Retirement Partners LLC now owns 1,772 shares of the transportation company’s stock worth $92,000 after acquiring an additional 217 shares in the last quarter. Keystone Financial Group increased its position in shares of Delta Air Lines by 5.6% during the first quarter. Keystone Financial Group now owns 4,433 shares of the transportation company’s stock worth $229,000 after acquiring an additional 234 shares in the last quarter. Finally, Pinnacle Bank increased its position in shares of Delta Air Lines by 12.1% during the second quarter. Pinnacle Bank now owns 2,184 shares of the transportation company’s stock worth $124,000 after acquiring an additional 235 shares in the last quarter. 87.74% of the stock is owned by hedge funds and other institutional investors.

DAL stock traded down $0.19 during trading on Friday, reaching $60.13. The stock had a trading volume of 3,731,897 shares, compared to its average volume of 6,816,925. Delta Air Lines, Inc. has a one year low of $45.08 and a one year high of $63.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.34 and a quick ratio of 0.29. The stock has a 50 day moving average price of $59.32. The stock has a market cap of $39.22 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 0.48 and a beta of 1.18.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.07. The firm had revenue of $12.54 billion for the quarter, compared to analysts’ expectations of $12.49 billion. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 earnings per share. Equities research analysts anticipate that Delta Air Lines, Inc. will post 7.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 2.68%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, July 24th. Delta Air Lines’s payout ratio is presently 28.50%.

Several research firms have recently commented on DAL. Imperial Capital boosted their target price on shares of Delta Air Lines from $61.00 to $63.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 10th. Cowen reaffirmed an “outperform” rating and issued a $69.00 price objective (up from $67.00) on shares of Delta Air Lines in a research report on Thursday, July 11th. Wolfe Research set a $69.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a research report on Friday, July 12th. Deutsche Bank upped their price objective on shares of Delta Air Lines from $56.00 to $61.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Finally, Morgan Stanley upped their price objective on shares of Delta Air Lines from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $67.56.

In other Delta Air Lines news, SVP William C. Carroll sold 6,384 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $61.96, for a total value of $395,552.64. Following the transaction, the senior vice president now directly owns 23,010 shares in the company, valued at $1,425,699.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Glen W. Hauenstein sold 50,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total transaction of $3,151,500.00. Following the completion of the transaction, the president now owns 267,526 shares in the company, valued at $16,862,163.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,288 shares of company stock worth $5,753,311. Corporate 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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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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