Delta Air Lines, Inc. (DAL) Shares Sold by Renaissance Technologies LLC
Renaissance Technologies LLC trimmed its position in Delta Air Lines, Inc. (NYSE:DAL) by 19.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 706,100 shares of the transportation company’s stock after selling 166,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.10% of Delta Air Lines worth $37,946,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Delta Air Lines by 2,951.4% during the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after purchasing an additional 43,777,555 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Delta Air Lines by 0.6% during the second quarter. Vanguard Group Inc. now owns 44,951,865 shares of the transportation company’s stock worth $2,415,714,000 after purchasing an additional 274,997 shares during the period. Lansdowne Partners UK LLP raised its holdings in shares of Delta Air Lines by 7.3% during the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock worth $1,291,656,000 after purchasing an additional 1,918,036 shares during the period. Primecap Management Co. CA raised its holdings in shares of Delta Air Lines by 9.3% during the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock worth $1,043,931,000 after purchasing an additional 1,930,614 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Delta Air Lines by 15.8% in the 1st quarter. AQR Capital Management LLC now owns 9,571,378 shares of the transportation company’s stock worth $439,900,000 after buying an additional 1,308,115 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Bank of America Corporation increased their price objective on shares of Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. BidaskClub upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $60.00 target price on shares of Delta Air Lines in a report on Thursday, July 13th. ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Finally, Imperial Capital reiterated a “hold” rating and set a $50.00 price target on shares of Delta Air Lines in a research report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and an average target price of $61.58.
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In other news, Director George N. Mattson purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the transaction, the director now directly owns 61,510 shares of the company’s stock, valued at approximately $2,795,014.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Craig M. Meynard sold 5,000 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $55.26, for a total transaction of $276,300.00. Following the completion of the sale, the vice president now owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. In the last three months, insiders acquired 141,000 shares of company stock worth $283,440 and sold 75,700 shares worth $4,171,150. Corporate insiders own 0.37% of the company’s stock.
Shares of Delta Air Lines, Inc. (NYSE DAL) opened at 51.25 on Wednesday. Delta Air Lines, Inc. has a one year low of $37.91 and a one year high of $55.75. The stock’s 50 day moving average price is $47.87 and its 200 day moving average price is $49.18. The stock has a market capitalization of $37.31 billion, a P/E ratio of 10.16 and a beta of 1.24.
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 the Thomson Reuters’ consensus estimate of $1.66 by ($0.02). Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The company had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd were paid a $0.305 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.22 annualized dividend and a yield of 2.38%. Delta Air Lines’s dividend payout ratio is presently 24.25%.
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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