Principal Financial Group Inc. Boosts Position in Delta Air Lines, Inc. (DAL)
Principal Financial Group Inc. raised its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,594,341 shares of the transportation company’s stock after acquiring an additional 114,863 shares during the quarter. Principal Financial Group Inc. owned about 0.36% of Delta Air Lines worth $125,099,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of DAL. Harbour Capital Advisors LLC raised its position in shares of Delta Air Lines by 0.6% in the first quarter. Harbour Capital Advisors LLC now owns 26,268 shares of the transportation company’s stock valued at $1,207,000 after purchasing an additional 160 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of Delta Air Lines in the first quarter valued at approximately $27,731,000. Driehaus Capital Management LLC bought a new position in shares of Delta Air Lines in the first quarter valued at approximately $215,000. FNY Managed Accounts LLC bought a new position in shares of Delta Air Lines in the first quarter valued at approximately $100,000. Finally, Point72 Europe London LLP bought a new position in shares of Delta Air Lines in the first quarter valued at approximately $9,137,000. Hedge funds and other institutional investors own 87.61% of the company’s stock.
In other Delta Air Lines news, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $53.06, for a total transaction of $8,449,274.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 33,863 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $53.61, for a total transaction of $1,815,395.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,001 shares of company stock worth $10,630,333. Corporate insiders own 0.37% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Barclays PLC assumed coverage on shares of Delta Air Lines in a research report on Thursday, August 10th. They set an “overweight” rating and a $70.00 target price on the stock. BidaskClub lowered shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Wolfe Research raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. J P Morgan Chase & Co boosted their target price on shares of Delta Air Lines from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, Cowen and Company lowered their price target on shares of Delta Air Lines from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $64.16.
Delta Air Lines, Inc. (NYSE:DAL) opened at $48.89 on Friday. The stock has a market cap of $35,071.15, a PE ratio of 10.25, a P/E/G ratio of 1.49 and a beta of 1.28. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. Delta Air Lines, Inc. has a 52-week low of $43.81 and a 52-week high of $55.75.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.04. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The business had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. analysts forecast that Delta Air Lines, Inc. will post 5.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.22 dividend on an annualized basis and a yield of 2.50%. Delta Air Lines’s payout ratio is presently 24.50%.
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.
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