Sound Shore Management Inc. CT Takes Position in Delta Air Lines, Inc. (DAL)
Sound Shore Management Inc. CT bought a new position in Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,944,241 shares of the transportation company’s stock, valued at approximately $158,224,000. Delta Air Lines comprises approximately 2.6% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 23rd largest position.
A number of other large investors also recently bought and sold shares of the company. FNY Managed Accounts LLC bought a new stake in Delta Air Lines during the first quarter worth approximately $100,000. Tompkins Financial Corp bought a new stake in Delta Air Lines during the first quarter worth approximately $107,000. TrimTabs Asset Management LLC increased its stake in Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock worth $111,000 after buying an additional 1,136 shares during the period. Advisory Services Network LLC bought a new stake in Delta Air Lines during the first quarter worth approximately $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after buying an additional 793 shares during the period. 87.65% of the stock is owned by institutional investors and hedge funds.
Delta Air Lines, Inc. (DAL) opened at 49.04 on Friday. The company’s 50 day moving average is $52.50 and its 200-day moving average is $49.45. Delta Air Lines, Inc. has a 1-year low of $35.84 and a 1-year high of $55.75. The stock has a market cap of $35.70 billion, a PE ratio of 9.72 and a beta of 1.20.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. The business had revenue of $10.79 billion during 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 business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.47 earnings per share. Equities research analysts forecast that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders 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 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, August 21st. Delta Air Lines’s dividend payout ratio (DPR) is currently 16.10%.
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A number of equities research analysts have commented on DAL shares. Citigroup Inc. lifted their target price on shares of Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Vetr downgraded shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $52.43 target price for the company. in a research report on Tuesday, May 2nd. Deutsche Bank AG lifted their target price on shares of Delta Air Lines from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, April 18th. Bank of America Corporation lifted their target price on shares of Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Delta Air Lines in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Delta Air Lines presently has an average rating of “Buy” and a consensus target price of $60.74.
In other news, EVP Joanne D. Smith sold 3,700 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total value of $199,800.00. Following the transaction, the executive vice president now directly owns 77,223 shares of the company’s stock, valued at $4,170,042. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Craig M. Meynard sold 5,000 shares of the firm’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 directly owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. Over the last three months, insiders bought 390,000 shares of company stock worth $31,200 and sold 126,831 shares worth $6,703,732. Company insiders own 0.37% of the company’s stock.
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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