Delta Air Lines, Inc. (NYSE:DAL) is Beech Hill Advisors Inc.’s 2nd Largest Position

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Beech Hill Advisors Inc. lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,119 shares of the transportation company’s stock after selling 4,800 shares during the period. Delta Air Lines comprises 3.6% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 2nd biggest position. Beech Hill Advisors Inc.’s holdings in Delta Air Lines were worth $6,688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its stake in Delta Air Lines by 3,507.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,338,652 shares of the transportation company’s stock valued at $189,469,000 after acquiring an additional 3,246,105 shares in the last quarter. AQR Capital Management LLC grew its stake in Delta Air Lines by 207.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,075,433 shares of the transportation company’s stock valued at $117,781,000 after acquiring an additional 1,400,082 shares in the last quarter. Holocene Advisors LP grew its stake in Delta Air Lines by 346.4% during the 2nd quarter. Holocene Advisors LP now owns 1,141,994 shares of the transportation company’s stock valued at $64,808,000 after acquiring an additional 886,164 shares in the last quarter. Janus Henderson Group PLC grew its stake in Delta Air Lines by 27.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,946,432 shares of the transportation company’s stock valued at $223,961,000 after acquiring an additional 850,291 shares in the last quarter. Finally, Natixis grew its stake in Delta Air Lines by 1,893.9% during the 2nd quarter. Natixis now owns 694,321 shares of the transportation company’s stock valued at $39,403,000 after acquiring an additional 659,498 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

NYSE:DAL opened at $53.83 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.34 and a quick ratio of 0.29. The firm has a market capitalization of $34.52 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 0.64 and a beta of 1.16. The company’s 50-day moving average is $56.70 and its two-hundred day moving average is $57.27. Delta Air Lines, Inc. has a 1-year low of $45.08 and a 1-year high of $63.44.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.06. The company had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.61 billion. Delta Air Lines had a net margin of 10.12% and a return on equity of 32.84%. Delta Air Lines’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.80 EPS. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post 7.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th will be issued a $0.403 dividend. This represents a $1.61 annualized dividend and a yield of 2.99%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 23rd. Delta Air Lines’s payout ratio is presently 28.50%.

In other Delta Air Lines news, EVP Rahul D. Samant sold 16,559 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

Several analysts recently issued reports on DAL shares. Imperial Capital upped their price objective on shares of Delta Air Lines from $61.00 to $63.00 and gave the company an “in-line” rating in a research note on Wednesday, July 10th. Cowen dropped their price objective on shares of Delta Air Lines from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Macquarie set a $62.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research note on Friday, October 11th. Barclays set a $65.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Buckingham Research dropped their price objective on shares of Delta Air Lines from $58.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.17.

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 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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