CIBC Private Wealth Group LLC Decreases Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

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CIBC Private Wealth Group LLC cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,221 shares of the transportation company’s stock after selling 2,509 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Delta Air Lines were worth $8,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Cornerstone Advisors Inc. grew its holdings in Delta Air Lines by 36.0% during the second quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 164 shares during the period. Vicus Capital boosted its holdings in shares of Delta Air Lines by 3.5% in the second quarter. Vicus Capital now owns 5,523 shares of the transportation company’s stock worth $313,000 after acquiring an additional 185 shares during the period. Covington Capital Management boosted its holdings in shares of Delta Air Lines by 35.4% in the second quarter. Covington Capital Management now owns 746 shares of the transportation company’s stock worth $42,000 after acquiring an additional 195 shares during the period. Successful Portfolios LLC boosted its holdings in shares of Delta Air Lines by 5.2% in the third quarter. Successful Portfolios LLC now owns 3,942 shares of the transportation company’s stock worth $227,000 after acquiring an additional 196 shares during the period. Finally, grace capital boosted its holdings in shares of Delta Air Lines by 1.1% in the second quarter. grace capital now owns 19,695 shares of the transportation company’s stock worth $1,118,000 after acquiring an additional 217 shares during the period. 87.00% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:DAL traded down $0.08 on Friday, reaching $57.58. 4,153,406 shares of the company traded hands, compared to its average volume of 6,527,328. The business’s 50-day simple moving average is $55.44 and its 200 day simple moving average is $57.09. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $63.44. The stock has a market capitalization of $37.19 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 0.69 and a beta of 1.13. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 0.89.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, October 10th. The transportation company reported $2.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.06. The firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.61 billion. Delta Air Lines had a return on equity of 32.84% and a net margin of 10.12%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.80 earnings per share. Sell-side analysts expect that Delta Air Lines, Inc. will post 7.01 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th will be given a dividend of $0.403 per share. This represents a $1.61 annualized dividend and a yield of 2.80%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 23rd. Delta Air Lines’s payout ratio is presently 28.50%.

A number of equities analysts have recently commented on DAL shares. Raymond James cut their price target on Delta Air Lines from $70.00 to $64.00 and set an “outperform” rating for the company in a report on Friday, October 11th. They noted that the move was a valuation call. Argus downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. ValuEngine upgraded Delta Air Lines from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Buckingham Research lowered their price objective on Delta Air Lines from $58.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, Macquarie set a $62.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $64.89.

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 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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