South State Corp Purchases Shares of 52,475 Delta Air Lines, Inc. (DAL)

South State Corp purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 52,475 shares of the transportation company’s stock, valued at approximately $2,820,000.

Several other hedge funds have also modified their holdings of the company. Raymond James Trust N.A. increased its position in shares of Delta Air Lines by 2.9% during the second quarter. Raymond James Trust N.A. now owns 15,053 shares of the transportation company’s stock worth $808,000 after purchasing an additional 430 shares in the last quarter. Symphony Asset Management LLC acquired a new position in shares of Delta Air Lines during the second quarter worth $249,000. AJO LP increased its position in shares of Delta Air Lines by 21.2% during the second quarter. AJO LP now owns 5,637,157 shares of the transportation company’s stock worth $302,941,000 after purchasing an additional 986,803 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Delta Air Lines by 5.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,331 shares of the transportation company’s stock worth $447,000 after purchasing an additional 399 shares in the last quarter. Finally, Columbia Asset Management increased its position in shares of Delta Air Lines by 11.0% during the second quarter. Columbia Asset Management now owns 12,656 shares of the transportation company’s stock worth $680,000 after purchasing an additional 1,256 shares in the last quarter. 86.49% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on DAL. Imperial Capital reaffirmed an “in-line” rating and set a $52.00 price target on shares of Delta Air Lines in a research report on Friday, May 19th. BidaskClub raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Vetr downgraded Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price target on the stock. in a research report on Thursday, June 1st. Atlantic Securities started coverage on Delta Air Lines in a research report on Tuesday, June 20th. They set an “overweight” rating and a $68.00 price target on the stock. Finally, Barclays PLC started coverage on Delta Air Lines in a research report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $61.34.

In other news, President Glen W. Hauenstein sold 67,000 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the transaction, the president now directly owns 239,418 shares in the company, valued at $13,203,902.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. Following the transaction, the vice president now owns 7,437 shares in the company, valued at $410,968.62. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 275,000 shares of company stock worth $294,160 and sold 75,700 shares worth $4,171,150. Insiders own 0.37% of the company’s stock.

Shares of Delta Air Lines, Inc. (NYSE DAL) traded down 0.358% during midday trading on Tuesday, reaching $48.645. The company’s stock had a trading volume of 1,819,665 shares. The company has a 50 day moving average of $48.68 and a 200-day moving average of $49.19. Delta Air Lines, Inc. has a 52 week low of $36.59 and a 52 week high of $55.75. The stock has a market capitalization of $35.41 billion, a price-to-earnings ratio of 9.642 and a beta of 1.25.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.02). The business had revenue of $10.79 billion during the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 earnings per share. Equities research analysts predict that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be paid a $0.305 dividend. The ex-dividend date is Monday, August 21st. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 dividend on an annualized basis and a yield of 2.50%. Delta Air Lines’s payout ratio is currently 24.25%.

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Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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