Stocks: Harbour Capital Advisors LLC Invests $1,208,000 in Delta Air Lines Inc. (DAL)

Stocks: Harbour Capital Advisors LLC Invests $1,208,000 in Delta Air Lines Inc. (DAL)

Harbour Capital Advisors LLC purchased a new position in Delta Air Lines Inc. (NYSE:DAL) during the second quarter, Holdings Channel reports. The fund purchased 33,163 shares of the company’s stock, valued at approximately $1,208,000.

Several other hedge funds also recently modified their holdings of the company. Archford Capital Strategies LLC boosted its stake in shares of Delta Air Lines by 3,152.4% in the second quarter. Archford Capital Strategies LLC now owns 2,732 shares of the company’s stock worth $100,000 after buying an additional 2,648 shares in the last quarter. Capital Guardian Trust Co. boosted its stake in shares of Delta Air Lines by 168.2% in the second quarter. Capital Guardian Trust Co. now owns 3,189 shares of the company’s stock worth $116,000 after buying an additional 2,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Delta Air Lines during the second quarter worth approximately $124,000. Daiwa SB Investments Ltd. boosted its stake in shares of Delta Air Lines by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 3,530 shares of the company’s stock worth $128,000 after buying an additional 280 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Delta Air Lines by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 4,211 shares of the company’s stock worth $150,000 after buying an additional 79 shares in the last quarter. 82.84% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Inc. (NYSE:DAL) opened at 46.38 on Monday. Delta Air Lines Inc. has a 12-month low of $32.60 and a 12-month high of $52.77. The company has a market cap of $34.32 billion, a P/E ratio of 7.52 and a beta of 0.89. The firm’s 50 day moving average is $41.02 and its 200 day moving average is $39.68.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 13th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.05. Delta Air Lines had a net margin of 11.92% and a return on equity of 37.39%. The firm earned $10.48 billion during the quarter. During the same period last year, the business earned $1.74 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Delta Air Lines Inc. will post $5.70 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be issued a dividend of $0.2025 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.81 annualized dividend and a dividend yield of 1.75%. Delta Air Lines’s dividend payout ratio (DPR) is presently 13.11%.

Several equities analysts recently issued reports on the company. Piper Jaffray Cos. set a $35.00 price objective on Delta Air Lines and gave the company a “buy” rating in a research report on Sunday, August 21st. Bank of America Corp. set a $60.00 price objective on Delta Air Lines and gave the company a “buy” rating in a research report on Tuesday, October 4th. JPMorgan Chase & Co. lowered their price objective on Delta Air Lines from $63.00 to $48.50 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Deutsche Bank AG upped their price objective on Delta Air Lines from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, July 18th. Finally, Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating in a research report on Friday, October 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $52.69.

In related news, VP Craig M. Meynard sold 3,500 shares of the firm’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $41.41, for a total transaction of $144,935.00. Following the completion of the transaction, the vice president now owns 11,077 shares of the company’s stock, valued at $458,698.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven M. Sear sold 4,670 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $37.18, for a total transaction of $173,630.60. Following the transaction, the executive vice president now directly owns 52,173 shares of the company’s stock, valued at approximately $1,939,792.14. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.

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