Stevens Capital Management LP Makes New $6.70 Million Investment in Delta Air Lines, Inc. (NYSE:DAL)

Stevens Capital Management LP purchased a new position in Delta Air Lines, Inc. (NYSE:DAL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 118,065 shares of the transportation company’s stock, valued at approximately $6,700,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kistler Tiffany Companies LLC purchased a new position in Delta Air Lines during the 1st quarter worth $26,000. Paragon Capital Management LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter valued at $26,000. Glassman Wealth Services grew its stake in shares of Delta Air Lines by 1,153.5% during the 1st quarter. Glassman Wealth Services now owns 539 shares of the transportation company’s stock valued at $28,000 after buying an additional 496 shares during the period. Cornerstone Advisors Inc. grew its stake in shares of Delta Air Lines by 36.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock valued at $35,000 after buying an additional 164 shares during the period. Finally, Carroll Financial Associates Inc. grew its stake in shares of Delta Air Lines by 105.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 623 shares of the transportation company’s stock valued at $35,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 87.34% of the company’s stock.

In related news, EVP Rahul D. Samant sold 16,559 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $61.87, for a total value of $1,024,505.33. Following the transaction, the executive vice president now directly owns 51,039 shares in the company, valued at approximately $3,157,782.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William C. Carroll sold 6,384 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $61.96, for a total value of $395,552.64. Following the completion of the transaction, the senior vice president now owns 23,010 shares in the company, valued at $1,425,699.60. The disclosure for this sale can be found here. Insiders have sold a total of 93,288 shares of company stock worth $5,753,311 over the last 90 days. Company insiders own 0.47% of the company’s stock.

NYSE DAL traded down $1.60 on Wednesday, hitting $57.24. The stock had a trading volume of 302,218 shares, compared to its average volume of 6,643,033. Delta Air Lines, Inc. has a one year low of $45.08 and a one year high of $63.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. The stock has a market cap of $38.26 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.47 and a beta of 1.18. The firm’s 50-day simple moving average is $60.05.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.28 by $0.07. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The firm had revenue of $12.54 billion during the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. Delta Air Lines’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that Delta Air Lines, Inc. will post 7.06 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, July 24th. Delta Air Lines’s dividend payout ratio is presently 28.50%.

Several research firms recently weighed in on DAL. Zacks Investment Research restated a “sell” rating on shares of Delta Air Lines in a report on Tuesday, July 23rd. Wolfe Research set a $69.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a report on Friday, July 12th. Raymond James boosted their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Deutsche Bank boosted their price objective on shares of Delta Air Lines from $56.00 to $61.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Finally, Imperial Capital boosted their price objective on shares of Delta Air Lines from $61.00 to $63.00 and gave the stock an “in-line” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.56.

Delta Air Lines Company 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 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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