Choreo LLC Buys Shares of 16,483 Delta Air Lines, Inc. (NYSE:DAL)

Choreo LLC acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,483 shares of the transportation company’s stock, valued at approximately $776,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC grew its position in shares of Delta Air Lines by 26,166.7% in the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 785 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines in the 2nd quarter valued at about $36,000. Rise Advisors LLC increased its position in shares of Delta Air Lines by 122.5% during the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Delta Air Lines in the 2nd quarter valued at about $40,000. Finally, Private Wealth Management Group LLC acquired a new stake in Delta Air Lines during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Up 2.1 %

Shares of Delta Air Lines stock opened at $45.21 on Friday. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 0.89 and a beta of 1.34. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The stock’s 50-day moving average is $42.27 and its 200 day moving average is $46.09. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The company had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. Delta Air Lines’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $2.68 EPS. Equities research analysts anticipate that Delta Air Lines, Inc. will post 5.99 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. Delta Air Lines’s payout ratio is presently 8.63%.

Analyst Ratings Changes

Several research firms recently issued reports on DAL. Jefferies Financial Group reduced their price target on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Citigroup boosted their price target on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Sanford C. Bernstein dropped their price objective on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Finally, TD Cowen cut their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and an average price target of $60.70.

Insiders Place Their Bets

In other news, Director Willie Cw Chiang bought 10,000 shares of the stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $878,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.96% 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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.