Tocqueville Asset Management L.P. Has $22.13 Million Holdings in Delta Air Lines, Inc. (DAL)

Share on StockTwits

Tocqueville Asset Management L.P. lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 35.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 446,630 shares of the transportation company’s stock after selling 241,145 shares during the period. Tocqueville Asset Management L.P.’s holdings in Delta Air Lines were worth $22,126,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DAL. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Delta Air Lines by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,002 shares of the transportation company’s stock worth $30,694,000 after buying an additional 5,543 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Delta Air Lines by 19.5% during the first quarter. Victory Capital Management Inc. now owns 55,396 shares of the transportation company’s stock valued at $3,036,000 after purchasing an additional 9,024 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Delta Air Lines by 116.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,536,013 shares of the transportation company’s stock valued at $193,809,000 after purchasing an additional 1,905,873 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Delta Air Lines by 199.2% during the first quarter. D.A. Davidson & CO. now owns 20,961 shares of the transportation company’s stock valued at $1,149,000 after purchasing an additional 13,955 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Delta Air Lines by 5.3% during the first quarter. LSV Asset Management now owns 4,222,963 shares of the transportation company’s stock valued at $231,460,000 after purchasing an additional 214,350 shares in the last quarter. Institutional investors and hedge funds own 87.29% of the company’s stock.

Shares of NYSE:DAL opened at $56.44 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.40 and a debt-to-equity ratio of 0.67. Delta Air Lines, Inc. has a 12 month low of $46.89 and a 12 month high of $60.79. The stock has a market capitalization of $39.55 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 0.51 and a beta of 1.06.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 12th. The transportation company reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.05. Delta Air Lines had a net margin of 7.72% and a return on equity of 26.75%. The firm had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $11.73 billion. During the same quarter last year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts forecast that Delta Air Lines, Inc. will post 5.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Thursday, July 26th were issued a $0.35 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, July 25th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. Delta Air Lines’s dividend payout ratio (DPR) is presently 28.40%.

A number of research analysts have recently weighed in on DAL shares. ValuEngine upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. Imperial Capital raised their price objective on Delta Air Lines from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, June 1st. Citigroup cut their price objective on Delta Air Lines from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, June 7th. Buckingham Research cut their price objective on Delta Air Lines from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 7th. Finally, Deutsche Bank cut their price objective on Delta Air Lines from $73.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, June 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $66.61.

In related news, Director William H. Easter III sold 3,000 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $58.47, for a total value of $175,410.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO W Gilbert West sold 15,000 shares of the stock in a transaction dated Friday, July 13th. The shares were sold at an average price of $50.47, for a total transaction of $757,050.00. Following the completion of the transaction, the chief operating officer now directly owns 104,447 shares of the company’s stock, valued at approximately $5,271,440.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,787 shares of company stock valued at $6,276,276. 0.33% of the stock is owned by insiders.

Delta Air Lines Company 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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Read More: Moving Average – How it Helps Investors in Stock Selection

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).

Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply