Healthcare of Ontario Pension Plan Trust Fund Takes Position in Delta Air Lines, Inc. (NYSE:DAL)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,125 shares of the transportation company’s stock, valued at approximately $338,000.

Several other hedge funds have also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Delta Air Lines in the 2nd quarter worth $180,000. Sanctuary Advisors LLC purchased a new position in Delta Air Lines in the second quarter valued at about $5,987,000. Dana Investment Advisors Inc. bought a new position in Delta Air Lines in the second quarter worth about $10,644,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at about $437,000. Finally, Cetera Investment Advisers boosted its stake in Delta Air Lines by 0.9% in the second quarter. Cetera Investment Advisers now owns 220,621 shares of the transportation company’s stock valued at $10,466,000 after acquiring an additional 2,055 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Up 2.4 %

Shares of Delta Air Lines stock opened at $50.64 on Wednesday. The stock has a market cap of $32.68 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. The firm has a fifty day moving average price of $43.48 and a 200 day moving average price of $46.76. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $53.86. 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 for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. During the same quarter in the previous year, the business posted $2.68 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Delta Air Lines, Inc. will post 6.18 earnings per share for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 1.18%. Delta Air Lines’s dividend payout ratio is presently 8.63%.

Insiders Place Their Bets

In other news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was purchased at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $878,000. This trade represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen decreased their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group increased their price objective on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Sanford C. Bernstein raised their price target on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $63.89.

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.