BlueMountain Capital Management LLC Has $3.17 Million Holdings in Delta Air Lines, Inc. (DAL)

BlueMountain Capital Management LLC cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 92.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,886 shares of the transportation company’s stock after selling 715,801 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Delta Air Lines were worth $3,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock valued at $2,080,189,000 after acquiring an additional 43,777,555 shares during the last quarter. Lansdowne Partners UK LLP lifted its stake in Delta Air Lines by 7.3% in the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock valued at $1,291,656,000 after acquiring an additional 1,918,036 shares during the last quarter. Primecap Management Co. CA lifted its stake in Delta Air Lines by 9.3% in the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock valued at $1,043,931,000 after acquiring an additional 1,930,614 shares during the last quarter. AQR Capital Management LLC lifted its stake in Delta Air Lines by 15.8% in the first quarter. AQR Capital Management LLC now owns 9,571,378 shares of the transportation company’s stock valued at $439,900,000 after acquiring an additional 1,308,115 shares during the last quarter. Finally, Boston Partners lifted its stake in Delta Air Lines by 2.5% in the second quarter. Boston Partners now owns 7,774,829 shares of the transportation company’s stock valued at $417,820,000 after acquiring an additional 190,531 shares during the last quarter. Hedge funds and other institutional investors own 86.49% of the company’s stock.

Delta Air Lines, Inc. (DAL) opened at 48.25 on Friday. The firm has a market capitalization of $35.13 billion, a P/E ratio of 9.56 and a beta of 1.25. Delta Air Lines, Inc. has a 52-week low of $36.85 and a 52-week high of $55.75. The firm’s 50-day moving average is $48.42 and its 200-day moving average is $49.15.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.02). The firm had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 earnings per share. On average, equities analysts expect that Delta Air Lines, Inc. will post $5.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were issued a dividend of $0.305 per share. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Monday, August 21st. Delta Air Lines’s payout ratio is 24.25%.

In other news, EVP Joanne D. Smith sold 3,700 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total transaction of $199,800.00. Following the sale, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $276,300.00. Following the sale, 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 have bought 267,000 shares of company stock worth $293,520 and have sold 75,700 shares worth $4,171,150. Insiders own 0.37% of the company’s stock.

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A number of research firms have issued reports on DAL. Morgan Stanley reiterated an “overweight” rating on shares of Delta Air Lines in a research note on Tuesday, September 12th. Deutsche Bank AG cut their target price on shares of Delta Air Lines from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, September 6th. Imperial Capital reiterated a “hold” rating and set a $50.00 target price on shares of Delta Air Lines in a research note on Wednesday, September 6th. Cowen and Company reiterated a “buy” rating and set a $60.00 target price on shares of Delta Air Lines in a research note on Tuesday, September 5th. Finally, BidaskClub lowered shares of Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 25th. 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 currently has an average rating of “Buy” and a consensus price target of $61.97.

About Delta Air Lines

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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