Beach Point Capital Management LP held its position in Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,983 shares of the transportation company’s stock at the end of the second quarter. Delta Air Lines comprises approximately 3.3% of Beach Point Capital Management LP’s holdings, making the stock its 13th largest position. Beach Point Capital Management LP’s holdings in Delta Air Lines were worth $13,595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Private Wealth Partners LLC increased its position in Delta Air Lines by 73.6% in the first quarter. Private Wealth Partners LLC now owns 9,200 shares of the transportation company’s stock valued at $423,000 after buying an additional 3,900 shares during the period. Capital Investment Advisors LLC bought a new position in Delta Air Lines during the first quarter valued at $216,000. Jolley Asset Management LLC increased its position in Delta Air Lines by 0.9% in the first quarter. Jolley Asset Management LLC now owns 80,793 shares of the transportation company’s stock valued at $3,713,000 after buying an additional 729 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Delta Air Lines by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,473 shares of the transportation company’s stock valued at $753,000 after buying an additional 947 shares during the period. Finally, Regent Investment Management LLC increased its position in Delta Air Lines by 13.9% in the first quarter. Regent Investment Management LLC now owns 16,362 shares of the transportation company’s stock valued at $752,000 after buying an additional 2,000 shares during the period. Institutional investors own 87.65% of the company’s stock.

Shares of Delta Air Lines, Inc. (NYSE DAL) opened at 49.04 on Friday. The company has a market capitalization of $35.70 billion, a PE ratio of 9.72 and a beta of 1.20. The stock has a 50 day moving average price of $52.50 and a 200 day moving average price of $49.45. Delta Air Lines, Inc. has a one year low of $35.84 and a one year high of $55.75.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.66 by $0.02. The company had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 earnings per share. On average, equities research analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be issued a $0.305 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.22 dividend on an annualized basis and a yield of 2.49%. Delta Air Lines’s dividend payout ratio is presently 16.10%.

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A number of research firms have commented on DAL. Vetr raised Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 price target on the stock in a report on Monday, May 8th. Imperial Capital reissued an “in-line” rating and set a $52.00 price target on shares of Delta Air Lines in a report on Friday, May 19th. BidaskClub raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Atlantic Securities began coverage on Delta Air Lines in a report on Tuesday, June 20th. They set an “overweight” rating and a $68.00 price target on the stock. Finally, Barclays PLC began coverage on Delta Air Lines in a report on Thursday. They set an “overweight” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $60.74.

In other Delta Air Lines news, VP Craig M. Meynard sold 5,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.26, for a total value of $276,300.00. Following the completion of the sale, the vice president now owns 7,437 shares in the company, valued at approximately $410,968.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Glen W. Hauenstein sold 67,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the completion of the sale, the president now owns 239,418 shares of the company’s stock, valued at approximately $13,203,902.70. The disclosure for this sale can be found here. In the last quarter, insiders acquired 390,000 shares of company stock valued at $31,200 and sold 126,831 shares valued at $6,703,732. 0.37% of the stock is currently owned by corporate insiders.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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