Principal Financial Group Inc. cut its stake in shares of Delta Air Lines Inc. (NYSE:DAL) by 46.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,145,257 shares of the company’s stock after selling 988,722 shares during the period. Principal Financial Group Inc. owned 0.15% of Delta Air Lines worth $41,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Huntington National Bank increased its position in shares of Delta Air Lines by 0.4% in the second quarter. Huntington National Bank now owns 5,500 shares of the company’s stock valued at $200,000 after buying an additional 21 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Delta Air Lines by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 4,211 shares of the company’s stock valued at $150,000 after buying an additional 79 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Delta Air Lines by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,945 shares of the company’s stock valued at $690,000 after buying an additional 79 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of Delta Air Lines by 1.1% in the second quarter. Coldstream Capital Management Inc. now owns 7,771 shares of the company’s stock valued at $283,000 after buying an additional 88 shares during the last quarter. Finally, Somerset Trust Co increased its position in shares of Delta Air Lines by 0.3% in the second quarter. Somerset Trust Co now owns 32,262 shares of the company’s stock valued at $1,175,000 after buying an additional 112 shares during the last quarter. 84.96% of the stock is owned by hedge funds and other institutional investors.

Shares of Delta Air Lines Inc. (NYSE:DAL) traded up 1.455% during trading on Monday, hitting $37.305. 2,251,322 shares of the company traded hands. The company has a 50 day moving average price of $37.35 and a 200 day moving average price of $41.74. The company has a market capitalization of $28.28 billion, a price-to-earnings ratio of 6.076 and a beta of 0.90. Delta Air Lines Inc. has a 52 week low of $32.60 and a 52 week high of $52.77.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 14th. The company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.05. The company earned $10.45 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Delta Air Lines had a net margin of 11.88% and a return on equity of 40.31%. Delta Air Lines’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.27 earnings per share. On average, analysts expect that Delta Air Lines Inc. will post $5.71 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 12th were given a dividend of $0.2025 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.81 annualized dividend and a yield of 2.20%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.14. Delta Air Lines’s dividend payout ratio (DPR) is 13.19%.

A number of research firms have recently issued reports on DAL. Piper Jaffray Cos. set a $35.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a report on Sunday, August 21st. Raymond James Financial Inc. reaffirmed an “outperform” rating on shares of Delta Air Lines in a report on Wednesday, June 15th. Deutsche Bank AG raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, July 12th. Argus reaffirmed a “buy” rating and set a $60.00 price objective on shares of Delta Air Lines in a report on Friday, July 15th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Delta Air Lines in a report on Thursday, August 11th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $55.43.

In other Delta Air Lines news, Director George N. Mattson acquired 10,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $36.50 per share, for a total transaction of $365,000.00. Following the completion of the transaction, the director now directly owns 54,750 shares of the company’s stock, valued at $1,998,375. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven M. Sear sold 4,670 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $37.18, for a total transaction of $173,630.60. Following the transaction, the executive vice president now owns 52,173 shares of the company’s stock, valued at approximately $1,939,792.14. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.

5 Day Chart for NYSE:DAL

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