Spears Abacus Advisors LLC grew its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,076 shares of the transportation company’s stock after purchasing an additional 4,530 shares during the quarter. Delta Air Lines accounts for 3.0% of Spears Abacus Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Spears Abacus Advisors LLC’s holdings in Delta Air Lines were worth $23,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of DAL. Washington Trust Bank lifted its stake in shares of Delta Air Lines by 141.3% during the first quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock worth $25,000 after purchasing an additional 284 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Delta Air Lines in the first quarter worth about $26,000. Northwest Wealth Management LLC acquired a new position in shares of Delta Air Lines in the first quarter worth about $26,000. Paragon Capital Management LLC acquired a new position in shares of Delta Air Lines in the first quarter worth about $26,000. Finally, Kistler Tiffany Companies LLC acquired a new position in shares of Delta Air Lines in the first quarter worth about $26,000. Institutional investors own 87.41% of the company’s stock.

In other Delta Air Lines news, Director Michael P. Huerta sold 1,010 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $54.33, for a total transaction of $54,873.30. Following the sale, the director now owns 5,670 shares in the company, valued at $308,051.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne D. Smith sold 34,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $58.00, for a total value of $1,972,000.00. Following the sale, the executive vice president now owns 93,600 shares in the company, valued at approximately $5,428,800. The disclosure for this sale can be found here. Insiders have sold 106,468 shares of company stock worth $6,118,032 in the last 90 days. 0.47% of the stock is currently owned by insiders.

DAL has been the topic of several recent analyst reports. Deutsche Bank cut Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 price target on the stock. in a research note on Friday, March 1st. Cowen boosted their price target on Delta Air Lines from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Stephens set a $63.00 price target on Delta Air Lines and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Imperial Capital boosted their price target on Delta Air Lines from $53.00 to $58.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price target on Delta Air Lines from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $65.27.

NYSE DAL traded up $0.38 on Wednesday, hitting $55.26. 1,992,105 shares of the stock traded hands, compared to its average volume of 6,926,702. Delta Air Lines, Inc. has a twelve month low of $45.08 and a twelve month high of $61.32. The stock has a market capitalization of $36.14 billion, a P/E ratio of 9.78, a PEG ratio of 0.59 and a beta of 1.15. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.06. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. The firm had revenue of $10.47 billion for the quarter, compared to analysts’ expectations of $10.39 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, analysts anticipate that Delta Air Lines, Inc. will post 6.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 2nd were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.53%. The ex-dividend date was Wednesday, May 1st. Delta Air Lines’s payout ratio is currently 24.78%.

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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 and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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

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