Cypress Capital Group Makes New $391,000 Investment in Delta Air Lines, Inc. $DAL

Cypress Capital Group acquired a new position in Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,951 shares of the transportation company’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new stake in Delta Air Lines in the second quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new position in Delta Air Lines in the first quarter worth about $31,000. Zions Bancorporation National Association UT purchased a new position in Delta Air Lines in the first quarter worth about $33,000. Hara Capital LLC purchased a new position in Delta Air Lines in the first quarter worth about $35,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Delta Air Lines in the first quarter worth about $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling

In other Delta Air Lines news, CEO Edward H. Bastian sold 35,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 632,823 shares in the company, valued at $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the transaction, the director owned 33,245 shares of the company’s stock, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $58.68 on Tuesday. The firm has a 50 day moving average of $58.77 and a 200 day moving average of $51.70. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $38.32 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 1.48 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.

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

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 16th. Delta Air Lines’s dividend payout ratio is presently 10.56%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Delta Air Lines from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Delta Air Lines from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Susquehanna Bancshares lifted their price target on shares of Delta Air Lines from $51.00 to $65.00 and gave the stock a “positive” rating in a research note on Friday, July 11th. Dbs Bank upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Jefferies Financial Group lifted their price target on shares of Delta Air Lines from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. Based on data from MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $70.31.

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 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.