Concurrent Investment Advisors LLC Acquires 30,487 Shares of Delta Air Lines, Inc. $DAL

Concurrent Investment Advisors LLC grew its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 239.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,241 shares of the transportation company’s stock after purchasing an additional 30,487 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Delta Air Lines were worth $2,127,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DAL. Vanguard Group Inc. boosted its stake in Delta Air Lines by 0.7% in the first quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company’s stock valued at $3,179,508,000 after acquiring an additional 514,264 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Delta Air Lines in the 2nd quarter worth $386,364,000. Invesco Ltd. boosted its position in shares of Delta Air Lines by 30.2% in the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock worth $315,788,000 after purchasing an additional 1,681,464 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Delta Air Lines by 149.9% in the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock worth $246,487,000 after purchasing an additional 3,577,489 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Delta Air Lines by 66.9% during the first quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company’s stock worth $257,918,000 after buying an additional 2,370,795 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In other news, CEO Edward H. Bastian sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer owned 632,823 shares of the company’s stock, valued at $35,615,278.44. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael P. Huerta sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the sale, the director directly owned 33,245 shares in the company, valued at $2,017,971.50. This trade represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

DAL has been the topic of a number of recent analyst reports. Susquehanna raised their target price on Delta Air Lines from $68.00 to $70.00 and gave the stock a “positive” rating in a report on Friday. The Goldman Sachs Group lifted their price objective on shares of Delta Air Lines from $60.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. BNP Paribas Exane lifted their price target on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 11th. Wolfe Research lifted their price target on shares of Delta Air Lines from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, HSBC lifted their target price on Delta Air Lines from $69.20 to $73.70 and gave the stock a “buy” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company. According to data from MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $70.68.

Delta Air Lines Trading Up 4.3%

DAL opened at $61.23 on Wednesday. The stock has a market capitalization of $39.98 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.51 and a beta of 1.50. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The firm’s fifty day simple moving average is $58.94 and its 200 day simple moving average is $51.77. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The business had revenue of $8.40 billion for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, October 16th. This represents a $0.75 annualized dividend and a yield of 1.2%. Delta Air Lines’s payout ratio is presently 10.56%.

Delta Air Lines Profile

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.