CCM Investment Advisers LLC lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 71.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,385 shares of the transportation company’s stock after selling 28,250 shares during the period. CCM Investment Advisers LLC’s holdings in Delta Air Lines were worth $611,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in shares of Delta Air Lines during the first quarter worth about $100,000. Tompkins Financial Corp acquired a new position in shares of Delta Air Lines during the first quarter worth about $107,000. TrimTabs Asset Management LLC boosted its position in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock worth $111,000 after buying an additional 1,136 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Delta Air Lines during the first quarter worth about $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after buying an additional 793 shares during the last quarter. Institutional investors own 87.65% of the company’s stock.

Shares of Delta Air Lines, Inc. (NYSE:DAL) opened at 49.48 on Friday. The company has a 50-day moving average of $52.40 and a 200-day moving average of $49.46. Delta Air Lines, Inc. has a 12-month low of $35.84 and a 12-month high of $55.75. The stock has a market capitalization of $36.02 billion, a P/E ratio of 9.81 and a beta of 1.20.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 28.33% and a net margin of 9.30%. Delta Air Lines’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.47 earnings per share. Equities analysts expect that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, August 21st. Delta Air Lines’s dividend payout ratio is 16.10%.

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DAL has been the subject of a number of research reports. Citigroup Inc. lifted their target price on shares of Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Vetr cut shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $52.43 target price for the company. in a research report on Tuesday, May 2nd. Deutsche Bank AG lifted their target price on shares of Delta Air Lines from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, April 18th. Bank of America Corporation lifted their target price on shares of Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Delta Air Lines in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $60.74.

In other news, COO W Gilbert West sold 26,131 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $50.47, for a total value of $1,318,831.57. Following the completion of the sale, the chief operating officer now directly owns 89,232 shares of the company’s stock, valued at $4,503,539.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the sale, the executive vice president now directly owns 77,223 shares of the company’s stock, valued at $4,170,042. The disclosure for this sale can be found here. Over the last three months, insiders bought 399,000 shares of company stock valued at $31,920 and sold 126,831 shares valued at $6,703,732. 0.37% of the stock is owned by corporate insiders.

About Delta Air Lines

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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