Intrinsic Edge Capital Management LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 70,922 shares of the transportation company’s stock, valued at approximately $3,811,000. Delta Air Lines accounts for approximately 1.2% of Intrinsic Edge Capital Management LLC’s holdings, making the stock its 28th biggest holding.

Several other institutional investors also recently added to or reduced their stakes in DAL. BlackRock Inc. boosted its holdings in shares of Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock valued at $2,080,189,000 after buying an additional 43,777,555 shares during the period. Winslow Capital Management LLC boosted its holdings in shares of Delta Air Lines by 5,815,030.8% in the first quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock valued at $208,465,000 after buying an additional 4,535,724 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Delta Air Lines by 85.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock valued at $323,542,000 after buying an additional 3,245,791 shares during the period. Sound Shore Management Inc. CT acquired a new position in shares of Delta Air Lines in the second quarter valued at approximately $158,224,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Delta Air Lines by 77.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock valued at $288,312,000 after buying an additional 2,343,531 shares during the period. Institutional investors own 86.26% of the company’s stock.

Shares of Delta Air Lines, Inc. (NYSE:DAL) traded up 0.16% during trading on Thursday, hitting $51.64. 1,699,571 shares of the stock traded hands. Delta Air Lines, Inc. has a 1-year low of $37.91 and a 1-year high of $55.75. The stock has a 50 day moving average price of $47.91 and a 200-day moving average price of $49.20. The stock has a market cap of $37.59 billion, a price-to-earnings ratio of 10.24 and a beta of 1.24.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.02). The firm had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. Delta Air Lines’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 earnings per share. Equities analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd were issued a $0.305 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, August 21st. Delta Air Lines’s payout ratio is 24.25%.

In related news, President Glen W. Hauenstein sold 67,000 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.15, for a total value of $3,695,050.00. Following the transaction, the president now directly owns 239,418 shares of the company’s stock, valued at approximately $13,203,902.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. Following the completion of the transaction, the vice president now directly owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. Over the last three months, insiders purchased 141,000 shares of company stock worth $283,440 and sold 75,700 shares worth $4,171,150. 0.37% of the stock is currently owned by insiders.

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Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Atlantic Securities began coverage on shares of Delta Air Lines in a report on Tuesday, June 20th. They set an “overweight” rating and a $68.00 target price for the company. Barclays PLC began coverage on shares of Delta Air Lines in a report on Thursday, August 10th. They set an “overweight” rating and a $70.00 target price for the company. Morgan Stanley restated an “overweight” rating on shares of Delta Air Lines in a report on Tuesday, September 12th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $60.00 target price on shares of Delta Air Lines in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $61.47.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates 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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