Wealth & Pension Services Group Inc. Cuts Position in Delta Air Lines, Inc. (DAL)
Wealth & Pension Services Group Inc. trimmed its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,285 shares of the transportation company’s stock after selling 193 shares during the quarter. Wealth & Pension Services Group Inc.’s holdings in Delta Air Lines were worth $635,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of DAL. Washington Trust Bank boosted its stake in Delta Air Lines by 141.3% in the first quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 284 shares in the last quarter. Kistler Tiffany Companies LLC acquired a new stake in Delta Air Lines in the first quarter valued at approximately $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Delta Air Lines in the first quarter valued at approximately $26,000. Northwest Wealth Management LLC acquired a new stake in Delta Air Lines in the first quarter valued at approximately $26,000. Finally, Paragon Capital Management LLC acquired a new stake in Delta Air Lines in the first quarter valued at approximately $26,000. 91.60% of the stock is currently owned by institutional investors.
In related news, EVP Peter W. Carter sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 85,295 shares in the company, valued at $4,947,962.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO W Gilbert West sold 7,465 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $58.52, for a total transaction of $436,851.80. Following the transaction, the chief operating officer now owns 94,933 shares of the company’s stock, valued at $5,555,479.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,554,538 shares of company stock valued at $175,828,075 and have sold 132,465 shares valued at $7,438,462. Insiders own 0.47% of the company’s stock.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, April 10th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The company had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. During the same period in the previous year, the firm posted $0.74 earnings per share. Equities analysts forecast that Delta Air Lines, Inc. will post 6.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 2nd will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.57%. Delta Air Lines’s dividend payout ratio is presently 24.78%.
Several brokerages have weighed in on DAL. Zacks Investment Research upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, May 13th. Imperial Capital raised their target price on shares of Delta Air Lines from $53.00 to $58.00 and gave the company an “in-line” rating in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. Citigroup lifted their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Raymond James lifted their price objective on shares of Delta Air Lines from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Stephens set a $63.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.56.
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Delta Air Lines 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 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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