The Essex Financial Services Inc. Purchases 2,105 Shares of Delta Air Lines, Inc. (DAL), Report finds

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DAL. TD Asset Management Inc. raised its position in shares of Delta Air Lines by 4.0% in the third quarter. TD Asset Management Inc. now owns 385,383 shares of the company’s stock valued at $15,169,000 after buying an additional 14,810 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Delta Air Lines by 24.5% in the second quarter. Quantbot Technologies LP now owns 81,836 shares of the company’s stock valued at $2,981,000 after buying an additional 16,097 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Delta Air Lines by 0.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 374,504 shares of the company’s stock valued at $13,643,000 after buying an additional 3,509 shares during the period. General Electric Co. increased its stake in shares of Delta Air Lines by 7.2% in the second quarter. General Electric Co. now owns 2,566,916 shares of the company’s stock valued at $93,513,000 after buying an additional 173,037 shares during the period. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of Delta Air Lines during the third quarter valued at approximately $318,000. Institutional investors and hedge funds own 79.44% of the company’s stock.

Essex Financial Services Inc. boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 34.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,182 shares of the company’s stock after buying an additional 2,105 shares during the period. Essex Financial Services Inc.’s holdings in Delta Air Lines were worth $402,000 at the end of the most recent reporting period.

Delta Air Lines, Inc. (NYSE:DAL) traded up 1.391% during midday trading on Monday, reaching $49.945. The company had a trading volume of 2,424,996 shares. The firm has a 50-day moving average price of $49.46 and a 200-day moving average price of $43.60. The company has a market capitalization of $36.56 billion, a price-to-earnings ratio of 8.626 and a beta of 0.75. Delta Air Lines, Inc. has a 52 week low of $32.60 and a 52 week high of $52.76.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, January 12th. The company reported $0.82 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.82. Delta Air Lines had a net margin of 11.03% and a return on equity of 33.59%. The firm earned $9.46 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter last year, the firm earned $1.18 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts expect that Delta Air Lines, Inc. will post $5.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, February 24th will be given a $0.2025 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 1.64%. Delta Air Lines’s dividend payout ratio (DPR) is currently 14.04%.

DAL has been the subject of several analyst reports. Argus increased their price objective on Delta Air Lines to $48.00 and gave the stock a “buy” rating in a research note on Monday, October 17th. Vetr raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $43.73 price objective for the company in a research note on Wednesday, October 26th. Citigroup Inc. initiated coverage on Delta Air Lines in a research note on Friday, November 18th. They issued a “buy” rating and a $61.00 price objective for the company. Deutsche Bank AG reissued a “buy” rating on shares of Delta Air Lines in a research note on Tuesday, November 8th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Delta Air Lines in a research note on Tuesday, November 8th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $55.88.

In related news, CEO Edward H. Bastian sold 103,000 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $50.77, for a total value of $5,229,310.00. Following the sale, the chief executive officer now directly owns 275,202 shares of the company’s stock, valued at approximately $13,972,005.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven M. Sear sold 4,671 shares of the stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $49.50, for a total transaction of $231,214.50. Following the completion of the sale, the insider now directly owns 52,174 shares in the company, valued at $2,582,613. The disclosure for this sale can be found here. Over the last three months, insiders purchased 21,000 shares of company stock worth $50,840 and sold 136,641 shares worth $6,859,083. Corporate insiders own 0.75% of the company’s stock.

About Delta Air Lines

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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