Delta Air Lines, Inc. (DAL) Shares Bought by Synovus Financial Corp

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Synovus Financial Corp raised its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 13.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,108 shares of the transportation company’s stock after buying an additional 2,824 shares during the quarter. Synovus Financial Corp’s holdings in Delta Air Lines were worth $1,394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lansdowne Partners UK LLP grew its holdings in shares of Delta Air Lines by 9.6% during the 2nd quarter. Lansdowne Partners UK LLP now owns 28,130,139 shares of the transportation company’s stock worth $1,393,561,000 after purchasing an additional 2,462,310 shares in the last quarter. Investec Asset Management LTD grew its holdings in shares of Delta Air Lines by 44.5% during the 2nd quarter. Investec Asset Management LTD now owns 3,742,148 shares of the transportation company’s stock worth $185,386,000 after purchasing an additional 1,152,284 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Delta Air Lines by 2.4% during the 2nd quarter. BlackRock Inc. now owns 35,660,948 shares of the transportation company’s stock worth $1,766,644,000 after purchasing an additional 825,244 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Delta Air Lines by 74.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,856,847 shares of the transportation company’s stock worth $91,988,000 after purchasing an additional 793,984 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of Delta Air Lines by 1,038.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 853,543 shares of the transportation company’s stock worth $42,285,000 after purchasing an additional 778,585 shares in the last quarter. 88.09% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines stock opened at $55.47 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.37 and a debt-to-equity ratio of 0.59. The company has a market cap of $38.48 billion, a P/E ratio of 11.25, a P/E/G ratio of 0.64 and a beta of 0.94. Delta Air Lines, Inc. has a one year low of $48.33 and a one year high of $60.79.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 11th. The transportation company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.06. The business had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.96 billion. Delta Air Lines had a return on equity of 27.72% and a net margin of 7.87%. During the same quarter last year, the company earned $1.57 EPS. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 5.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 7th will be given a $0.35 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.40 annualized dividend and a yield of 2.52%. Delta Air Lines’s payout ratio is 28.40%.

In other Delta Air Lines news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $55.00, for a total value of $1,925,000.00. Following the completion of the transaction, the chief executive officer now owns 266,943 shares in the company, valued at approximately $14,681,865. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joanne D. Smith sold 4,353 shares of Delta Air Lines stock in a transaction on Monday, August 20th. The shares were sold at an average price of $57.50, for a total value of $250,297.50. Following the completion of the transaction, the executive vice president now owns 90,972 shares of the company’s stock, valued at approximately $5,230,890. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,353 shares of company stock valued at $2,350,708. Corporate insiders own 0.33% of the company’s stock.

Several brokerages have recently weighed in on DAL. Imperial Capital reissued an “outperform” rating and set a $68.00 price objective on shares of Delta Air Lines in a report on Friday, July 13th. Barclays decreased their price objective on Delta Air Lines from $73.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, July 16th. Zacks Investment Research lowered Delta Air Lines from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. ValuEngine raised Delta Air Lines from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Finally, Stifel Nicolaus decreased their price objective on Delta Air Lines from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $67.99.

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

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

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