Chevy Chase Trust Holdings LLC Sells 2,268 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Chevy Chase Trust Holdings LLC lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,441 shares of the transportation company’s stock after selling 2,268 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Delta Air Lines worth $17,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Citizens Bank & Trust Co. increased its holdings in Delta Air Lines by 4.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 41,626 shares of the transportation company’s stock valued at $1,975,000 after buying an additional 1,917 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at $5,910,000. BTC Capital Management Inc. lifted its holdings in shares of Delta Air Lines by 11.0% in the second quarter. BTC Capital Management Inc. now owns 14,801 shares of the transportation company’s stock worth $702,000 after buying an additional 1,461 shares in the last quarter. Mason & Associates Inc grew its holdings in shares of Delta Air Lines by 8.6% during the second quarter. Mason & Associates Inc now owns 4,804 shares of the transportation company’s stock worth $228,000 after purchasing an additional 380 shares in the last quarter. Finally, 1858 Wealth Management LLC purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at about $236,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Trading Down 0.9 %

Shares of DAL stock traded down $0.35 during mid-day trading on Tuesday, reaching $40.12. The company’s stock had a trading volume of 3,992,948 shares, compared to its average volume of 9,623,875. The company’s 50 day simple moving average is $44.73 and its 200-day simple moving average is $45.97. The firm has a market capitalization of $25.89 billion, a PE ratio of 5.82, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $53.86.

Delta Air Lines (NYSE:DAL) last issued its earnings results 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). 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 during the quarter, compared to analyst estimates of $15.45 billion. During the same quarter last year, the company posted $2.68 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts predict that Delta Air Lines, Inc. will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

Insider Buying and Selling at Delta Air Lines

In other news, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average cost of $43.90 per share, with a total value of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $878,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DAL has been the topic of a number of recent research reports. Jefferies Financial Group cut their price objective on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Sanford C. Bernstein cut their price objective on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. TD Cowen decreased their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. HSBC initiated coverage on shares of Delta Air Lines in a report on Monday, May 13th. They issued a “buy” rating and a $72.80 price objective for the company. Finally, Citigroup increased their target price on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $60.70.

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.