Semmax Financial Advisors Inc. Trims Stake in Delta Air Lines, Inc. (DAL)
Semmax Financial Advisors Inc. reduced its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 20.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,787 shares of the transportation company’s stock after selling 459 shares during the period. Semmax Financial Advisors Inc.’s holdings in Delta Air Lines were worth $92,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Bank raised its position in shares of Delta Air Lines by 141.3% during the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after buying an additional 284 shares in the last quarter. Kistler Tiffany Companies LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at $26,000. Northwest Wealth Management LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at $26,000. Finally, Paragon Capital Management LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at $26,000. 91.60% of the stock is owned by hedge funds and other institutional investors.
Shares of DAL traded up $0.63 during trading hours on Tuesday, reaching $54.91. 774,589 shares of the company traded hands, compared to its average volume of 7,294,107. Delta Air Lines, Inc. has a 12 month low of $45.08 and a 12 month high of $61.32. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $35.91 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.66 and a beta of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 2nd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, May 1st. Delta Air Lines’s payout ratio is currently 24.78%.
DAL has been the topic of a number of analyst reports. Stephens set a $63.00 target price on shares of Delta Air Lines and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Zacks Investment Research cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday. Imperial Capital lifted their target price on shares of Delta Air Lines from $53.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Raymond James lifted their target price on shares of Delta Air Lines from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, Buckingham Research lifted their target price on shares of Delta Air Lines from $62.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $65.56.
In other Delta Air Lines news, major shareholder Berkshire Hathaway Inc purchased 2,345,077 shares of Delta Air Lines stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $49.37 per share, with a total value of $115,776,451.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rahul D. Samant sold 13,436 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $51.16, for a total transaction of $687,385.76. Following the transaction, the executive vice president now directly owns 67,598 shares of the company’s stock, valued at $3,458,313.68. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,554,538 shares of company stock worth $175,828,075 and have sold 145,901 shares worth $8,125,848. Insiders own 0.47% of the company’s stock.
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About Delta Air Lines
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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
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