Pitcairn Co. reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 15.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 44,966 shares of the transportation company’s stock after selling 8,380 shares during the period. Pitcairn Co.’s holdings in Delta Air Lines were worth $2,416,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Patten Group Inc. boosted its stake in Delta Air Lines by 0.3% in the first quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock worth $420,000 after buying an additional 30 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in Delta Air Lines by 0.8% in the first quarter. Wetherby Asset Management Inc. now owns 6,020 shares of the transportation company’s stock valued at $277,000 after buying an additional 49 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in 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 valued at $246,000 after buying an additional 58 shares during the last quarter. Independent Advisor Alliance boosted its stake in Delta Air Lines by 0.8% in the first quarter. Independent Advisor Alliance now owns 8,254 shares of the transportation company’s stock valued at $372,000 after buying an additional 64 shares during the last quarter. Finally, Banced Corp boosted its stake in Delta Air Lines by 1.2% in the second quarter. Banced Corp now owns 7,895 shares of the transportation company’s stock valued at $425,000 after buying an additional 96 shares during the last quarter. 87.65% of the stock is owned by institutional investors.

Delta Air Lines, Inc. (DAL) opened at 49.48 on Friday. The firm has a 50-day moving average price of $52.40 and a 200 day moving average price of $49.46. Delta Air Lines, Inc. has a one year low of $35.84 and a one year high of $55.75. The firm has a market capitalization of $36.02 billion, a PE ratio of 9.81 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 consensus estimate of $1.66 by $0.02. The company had revenue of $10.79 billion for 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%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 EPS. Analysts anticipate that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.

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

COPYRIGHT VIOLATION WARNING: “Delta Air Lines, Inc. (NYSE:DAL) Position Lowered by Pitcairn Co.” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/delta-air-lines-inc-nysedal-position-lowered-by-pitcairn-co/1478777.html.

Several analysts recently weighed in on the company. Barclays PLC assumed coverage on Delta Air Lines in a report on Thursday. They set an “overweight” rating and a $70.00 price target for the company. BidaskClub cut Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Vetr cut Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price target for the company. in a report on Thursday, June 1st. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Delta Air Lines in a report on Friday, July 14th. Finally, ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $60.74.

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,700 shares of the stock in a transaction 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 sale, the executive vice president now owns 77,223 shares in the company, valued at $4,170,042. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Craig M. Meynard sold 5,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the sale, the vice president now owns 7,437 shares in the company, valued at approximately $410,968.62. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 399,000 shares of company stock worth $31,920 and have sold 126,831 shares worth $6,703,732. Corporate insiders own 0.37% of the company’s stock.

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.

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.