Buckingham Capital Management Inc. lifted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 7.8% in the 1st quarter, HoldingsChannel reports. The fund owned 73,121 shares of the transportation company’s stock after acquiring an additional 5,274 shares during the period. Buckingham Capital Management Inc.’s holdings in Delta Air Lines were worth $3,777,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Washington Trust Bank lifted 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 worth $25,000 after purchasing an additional 284 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth about $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Delta Air Lines during the 1st quarter worth about $26,000. Northwest Wealth Management LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth about $26,000. Finally, Paragon Capital Management LLC acquired a new position in shares of Delta Air Lines during the 1st quarter worth about $26,000. Institutional investors own 91.60% of the company’s stock.
In other news, COO W Gilbert West sold 7,465 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $58.52, for a total value of $436,851.80. Following the completion of the transaction, the chief operating officer now directly owns 94,933 shares of the company’s stock, valued at approximately $5,555,479.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Berkshire Hathaway Inc bought 2,345,077 shares of the company’s stock in a transaction dated 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 disclosure for this purchase can be found here. Over the last three months, insiders bought 3,554,538 shares of company stock valued at $175,828,075 and sold 132,465 shares valued at $7,438,462. Corporate insiders own 0.47% of the company’s stock.
Delta Air Lines stock opened at $54.83 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.66 and a beta of 1.13. Delta Air Lines, Inc. has a 12 month low of $45.08 and a 12 month high of $61.32.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.90 by $0.06. The firm had revenue of $10.47 billion during the quarter, compared to analysts’ expectations of $10.39 billion. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, analysts expect that Delta Air Lines, Inc. will post 6.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 2nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.55%. Delta Air Lines’s payout ratio is presently 24.78%.
Several research firms recently weighed in on DAL. Zacks Investment Research cut Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley cut Delta Air Lines from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $62.00 to $61.00 in a research report on Monday. Citigroup boosted their price objective on Delta Air Lines from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Raymond James upped their price target on Delta Air Lines from $60.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Credit Suisse Group upped their price target on Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $65.56.
COPYRIGHT VIOLATION NOTICE: “Delta Air Lines, Inc. (DAL) Stake Increased by Buckingham Capital Management Inc.” was originally published by Macon Daily and is owned by of Macon Daily. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://macondaily.com/2019/05/22/delta-air-lines-inc-dal-stake-increased-by-buckingham-capital-management-inc.html.
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.
Further Reading: How much can an individual set aside as a catch-up contribution?
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).
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.