Pacer Advisors Inc. Has $843,000 Position in Delta Air Lines, Inc. (DAL)
Pacer Advisors Inc. reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 21.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,681 shares of the transportation company’s stock after selling 4,275 shares during the period. Pacer Advisors Inc.’s holdings in Delta Air Lines were worth $843,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in Delta Air Lines during the first quarter worth about $180,000. Acadian Asset Management LLC acquired a new stake in Delta Air Lines during the first quarter worth about $2,510,000. Hennessy Advisors Inc. boosted its stake in Delta Air Lines by 7.4% in the first quarter. Hennessy Advisors Inc. now owns 43,600 shares of the transportation company’s stock worth $2,004,000 after buying an additional 3,000 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 worth $277,000 after buying an additional 49 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Delta Air Lines by 8.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,467 shares of the transportation company’s stock worth $894,000 after buying an additional 1,489 shares during the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.
Delta Air Lines, Inc. (NYSE DAL) opened at 46.83 on Thursday. The firm’s 50-day moving average price is $50.82 and its 200 day moving average price is $49.40. Delta Air Lines, Inc. has a one year low of $35.90 and a one year high of $55.75. The firm has a market capitalization of $34.09 billion, a P/E ratio of 9.28 and a beta of 1.20.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.66 by $0.02. The firm had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 earnings per share. On average, equities analysts anticipate that Delta Air Lines, Inc. will post $5.12 earnings per share 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 paid a $0.305 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Monday, August 21st. Delta Air Lines’s dividend payout ratio is currently 24.25%.
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A number of analysts have recently issued reports on the company. Cowen and Company raised their price objective on Delta Air Lines from $58.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Evercore ISI reissued an “outperform” rating and set a $66.00 price target on shares of Delta Air Lines in a report on Friday, July 14th. Imperial Capital lifted their price target on Delta Air Lines from $52.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, July 11th. ValuEngine cut Delta Air Lines from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $60.00 price target on shares of Delta Air Lines in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $62.16.
In related news, Director George N. Mattson bought 6,000 shares of the company’s stock in a transaction 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 purchase, the director now directly owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. Following the completion of the transaction, 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. Over the last 90 days, insiders acquired 335,000 shares of company stock worth $298,960 and sold 75,700 shares worth $4,171,150. 0.37% of the stock is owned by corporate 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.
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