Delta Air Lines (DAL) Shares Gap Up to $56.95
Delta Air Lines, Inc. (NYSE:DAL) gapped up prior to trading on Wednesday . The stock had previously closed at $54.93, but opened at $56.95. Delta Air Lines shares last traded at $57.86, with a volume of 14234618 shares trading hands.
Several research firms have commented on DAL. Cowen reiterated an “outperform” rating and issued a $67.00 price objective on shares of Delta Air Lines in a research note on Friday, December 14th. Zacks Investment Research lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America lowered shares of Delta Air Lines from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $62.00 to $51.00 in a research note on Monday, January 14th. Vertical Research began coverage on shares of Delta Air Lines in a research note on Monday, February 4th. They issued a “hold” rating for the company. Finally, Imperial Capital reiterated an “outperform” rating and issued a $77.00 price objective (down previously from $81.00) on shares of Delta Air Lines in a research note on Friday, December 14th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.85.
The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $38.88 billion, a PE ratio of 10.24, a P/E/G ratio of 0.70 and a beta of 1.08.
The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 1st were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.42%. Delta Air Lines’s payout ratio is currently 24.78%.
In related news, major shareholder Berkshire Hathaway Inc purchased 1,202,961 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $49.65 per share, for a total transaction of $59,727,013.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Francis S. Blake purchased 5,185 shares of the firm’s stock in a transaction dated Monday, January 28th. The shares were bought at an average price of $48.17 per share, with a total value of $249,761.45. Following the purchase, the director now owns 47,885 shares in the company, valued at $2,306,620.45. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 3,559,723 shares of company stock valued at $176,077,837 and have sold 70,436 shares valued at $3,602,036. Company insiders own 0.33% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in Delta Air Lines by 3,837.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,713,031 shares of the transportation company’s stock worth $215,000 after buying an additional 10,440,934 shares during the period. FMR LLC boosted its holdings in Delta Air Lines by 30.9% in the 4th quarter. FMR LLC now owns 9,742,670 shares of the transportation company’s stock worth $486,161,000 after buying an additional 2,298,101 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Delta Air Lines by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,801,924 shares of the transportation company’s stock worth $389,356,000 after buying an additional 50,255 shares during the period. Geode Capital Management LLC boosted its holdings in Delta Air Lines by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 7,757,127 shares of the transportation company’s stock worth $386,658,000 after buying an additional 532,550 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in Delta Air Lines by 1.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 6,867,623 shares of the transportation company’s stock worth $397,155,000 after buying an additional 69,137 shares during the period. 88.01% of the stock is owned by institutional investors.
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Delta Air Lines Company Profile (NYSE:DAL)
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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