Wesbanco Bank Inc. cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 30.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,303 shares of the transportation company’s stock after selling 11,130 shares during the quarter. Wesbanco Bank Inc.’s holdings in Delta Air Lines were worth $1,262,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Investment Advisory Services LLC purchased a new stake in Delta Air Lines in the fourth quarter valued at approximately $119,000. Alps Advisors Inc. purchased a new stake in Delta Air Lines in the fourth quarter valued at approximately $846,000. Financial Gravity Companies Inc. purchased a new stake in Delta Air Lines in the fourth quarter valued at approximately $89,000. BB&T Securities LLC grew its holdings in Delta Air Lines by 11.4% in the fourth quarter. BB&T Securities LLC now owns 73,983 shares of the transportation company’s stock valued at $3,691,000 after purchasing an additional 7,585 shares during the period. Finally, Hartford Investment Management Co. grew its holdings in Delta Air Lines by 3.2% in the fourth quarter. Hartford Investment Management Co. now owns 97,636 shares of the transportation company’s stock valued at $4,872,000 after purchasing an additional 2,987 shares during the period. Institutional investors and hedge funds own 89.33% of the company’s stock.
In other news, Director Francis S. Blake bought 5,185 shares of Delta Air Lines stock in a transaction dated Monday, January 28th. The shares were acquired at an average cost of $48.17 per share, with a total value of $249,761.45. Following the completion of the transaction, the director now owns 47,885 shares in the company, valued at approximately $2,306,620.45. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George N. Mattson bought 4,000 shares of Delta Air Lines stock in a transaction dated Monday, December 17th. The shares were purchased at an average cost of $52.87 per share, for a total transaction of $211,480.00. Following the completion of the transaction, the director now owns 72,530 shares of the company’s stock, valued at approximately $3,834,661.10. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 13,185 shares of company stock worth $664,881. Corporate insiders own 0.33% of the company’s stock.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Tuesday, January 15th. The transportation company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. Delta Air Lines had a net margin of 8.78% and a return on equity of 29.43%. The firm had revenue of $10.74 billion for the quarter, compared to analysts’ expectations of $10.71 billion. During the same period in the previous year, the company posted $0.96 earnings per share. Delta Air Lines’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Delta Air Lines, Inc. will post 6.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.75%. Delta Air Lines’s payout ratio is currently 24.78%.
A number of research firms recently issued reports on DAL. Zacks Investment Research downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Vertical Research began coverage on shares of Delta Air Lines in a report on Monday, February 4th. They issued a “hold” rating for the company. Imperial Capital restated an “outperform” rating and issued a $77.00 target price (down from $81.00) on shares of Delta Air Lines in a report on Friday, December 14th. Credit Suisse Group reaffirmed a “buy” rating and set a $71.00 price target on shares of Delta Air Lines in a research report on Monday, December 17th. Finally, Susquehanna Bancshares started coverage on shares of Delta Air Lines in a research report on Wednesday, November 28th. They set a “positive” rating and a $69.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Delta Air Lines presently has a consensus rating of “Buy” and a consensus target price of $67.22.
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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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