Conning Inc. lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 17,460 shares of the transportation company’s stock after selling 140 shares during the period. Conning Inc.’s holdings in Delta Air Lines were worth $938,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DAL. Advisors Asset Management Inc. raised its stake in shares of Delta Air Lines by 0.6% in the second quarter. Advisors Asset Management Inc. now owns 48,053 shares of the transportation company’s stock worth $2,582,000 after buying an additional 288 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Delta Air Lines by 3.2% in the second quarter. Wedbush Securities Inc. now owns 6,296 shares of the transportation company’s stock worth $338,000 after buying an additional 195 shares in the last quarter. Pekin Singer Strauss Asset Management IL purchased a new stake in shares of Delta Air Lines during the second quarter worth $268,000. Traynor Capital Management Inc. raised its stake in shares of Delta Air Lines by 1.2% in the second quarter. Traynor Capital Management Inc. now owns 4,911 shares of the transportation company’s stock worth $246,000 after buying an additional 58 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Delta Air Lines by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 908,690 shares of the transportation company’s stock worth $48,833,000 after buying an additional 12,179 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Delta Air Lines, Inc. (NYSE DAL) opened at 49.92 on Wednesday. The stock has a 50 day moving average price of $52.24 and a 200-day moving average price of $49.45. Delta Air Lines, Inc. has a 52 week low of $35.90 and a 52 week high of $55.75. The firm has a market capitalization of $36.34 billion, a P/E ratio of 9.89 and a beta of 1.20.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The business had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 earnings per share. Analysts anticipate that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be paid a $0.305 dividend. The ex-dividend date is Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a dividend yield of 2.44%. Delta Air Lines’s dividend payout ratio (DPR) is presently 16.10%.

COPYRIGHT VIOLATION WARNING: This report was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/conning-inc-reduces-stake-in-delta-air-lines-inc-dal/1494475.html.

A number of brokerages recently weighed in on DAL. Cowen and Company restated a “buy” rating and set a $66.00 price objective on shares of Delta Air Lines in a research report on Monday. Barclays PLC began coverage on Delta Air Lines in a research report on Thursday, August 10th. They set an “overweight” rating and a $70.00 price objective on the stock. BidaskClub lowered Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Finally, Vetr upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $57.50 price objective on the stock in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $60.74.

In related news, EVP Joanne D. Smith sold 3,700 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total value of $199,800.00. Following the sale, the executive vice president now directly owns 77,223 shares of the company’s stock, valued at $4,170,042. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Craig M. Meynard sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was 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 directly owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. Over the last three months, insiders purchased 384,000 shares of company stock worth $30,720 and sold 126,831 shares worth $6,703,732. 0.37% of the stock is owned by company 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.

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).

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

Receive News & Ratings for Delta Air Lines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.