Oppenheimer Asset Management Inc. Increases Position in Delta Air Lines, Inc. $DAL

Oppenheimer Asset Management Inc. boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 37.7% during the second quarter, Holdings Channel.com reports. The fund owned 48,791 shares of the transportation company’s stock after acquiring an additional 13,371 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Delta Air Lines were worth $2,400,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at about $25,000. Activest Wealth Management grew its stake in Delta Air Lines by 2,280.8% in the 2nd quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 593 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Delta Air Lines in the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT acquired a new stake in Delta Air Lines in the 1st quarter valued at about $33,000. Finally, Hara Capital LLC acquired a new stake in Delta Air Lines in the 1st quarter valued at about $35,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $58.68 on Thursday. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The stock has a market capitalization of $38.32 billion, a P/E ratio of 8.26, a P/E/G ratio of 1.33 and a beta of 1.50. The firm’s 50-day moving average is $59.54 and its two-hundred day moving average is $53.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34.

Delta Air Lines (NYSE:DAL) last released its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The business had revenue of $8.40 billion for the quarter. Equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. Delta Air Lines’s dividend payout ratio (DPR) is currently 10.56%.

Insider Buying and Selling

In related news, Director Michael P. Huerta sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the sale, the director directly owned 33,245 shares of the company’s stock, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the sale, the senior vice president directly owned 15,816 shares in the company, valued at $968,730. This represents a 46.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 39,833 shares of company stock valued at $2,463,585. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DAL shares. TD Cowen increased their price objective on shares of Delta Air Lines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Bernstein Bank increased their price objective on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, July 11th. Sanford C. Bernstein increased their price objective on shares of Delta Air Lines from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Citigroup raised their price target on shares of Delta Air Lines from $62.00 to $65.50 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and a consensus target price of $71.53.

Delta Air Lines Company Profile

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.