Cardinal Point Capital Management ULC Purchases Shares of 4,200 Delta Air Lines, Inc. $DAL

Cardinal Point Capital Management ULC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,200 shares of the transportation company’s stock, valued at approximately $207,000.

Several other large investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new position in shares of Delta Air Lines in the 2nd quarter worth approximately $25,000. Activest Wealth Management raised its holdings in shares of Delta Air Lines by 2,280.8% in the 2nd quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock worth $30,000 after buying an additional 593 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Delta Air Lines in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Delta Air Lines in the 1st quarter worth approximately $33,000. Finally, Hara Capital LLC acquired a new position in shares of Delta Air Lines in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DAL shares. Bernstein Bank increased their target price on Delta Air Lines from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. BNP Paribas Exane increased their price target on Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 11th. Wall Street Zen upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. TD Cowen increased their price target on Delta Air Lines from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, HSBC increased their price objective on Delta Air Lines from $69.20 to $73.70 and gave the company a “buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $71.53.

Delta Air Lines Stock Up 3.7%

Shares of DAL opened at $60.93 on Friday. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.35 and a beta of 1.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. The business’s fifty day moving average price is $59.61 and its two-hundred day moving average price is $52.84. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week 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 company had revenue of $8.40 billion for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. On average, analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

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

Insider Transactions at Delta Air Lines

In related news, Director Michael P. Huerta sold 2,500 shares of the business’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 value of $151,750.00. Following the completion of the sale, the director directly owned 33,245 shares in the company, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total value of $1,453,722.59. Following the sale, the executive vice president owned 81,109 shares of the company’s stock, valued at $5,055,523.97. The trade was a 22.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,833 shares of company stock worth $2,463,585 over the last quarter. Company insiders own 0.88% of the company’s stock.

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.