Zions Bancorporation N.A. Grows Holdings in Delta Air Lines, Inc. (NYSE:DAL)
Zions Bancorporation N.A. grew its stake in Delta Air Lines, Inc. (NYSE:DAL) by 18.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,143 shares of the transportation company’s stock after acquiring an additional 339 shares during the period. Zions Bancorporation N.A.’s holdings in Delta Air Lines were worth $122,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in DAL. Washington Trust Bank increased its stake in 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 buying an additional 284 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. Northwest Wealth Management LLC purchased a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. Paragon Capital Management LLC purchased a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. Finally, Kistler Tiffany Companies LLC purchased a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on DAL shares. Deutsche Bank increased their price objective on shares of Spirit Airlines from $75.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Wolfe Research set a $69.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Friday, July 12th. Citigroup increased their price objective on shares of Vistra Energy from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Cowen reissued an “outperform” rating and issued a $69.00 price objective (up from $67.00) on shares of Delta Air Lines in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.56.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.07. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The business had revenue of $12.54 billion during the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts expect that Delta Air Lines, Inc. will post 7.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be issued a $0.4025 dividend. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $1.61 annualized dividend and a dividend yield of 2.59%. Delta Air Lines’s dividend payout ratio is presently 28.50%.
In other news, President Glen W. Hauenstein sold 50,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total value of $3,151,500.00. Following the completion of the transaction, the president now owns 267,526 shares in the company, valued at approximately $16,862,163.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven M. Sear sold 8,993 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total transaction of $479,057.11. Following the completion of the transaction, the insider now owns 76,150 shares of the company’s stock, valued at approximately $4,056,510.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,288 shares of company stock valued at $5,753,311. Company insiders own 0.47% of the company’s stock.
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.
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