David Dewalt Sells 31,756 Shares of Delta Air Lines (NYSE:DAL) Stock

Key Points

• Director David Dewalt sold 31,756 Delta Air Lines shares at an average price of $90.85, generating approximately $2.89 million. His remaining stake fell 58.68% to 22,358 shares.
• Delta reported quarterly earnings of $1.56 per share, beating estimates of $1.49, while revenue rose 18.7% year over year to $17.67 billion.
• Analysts remain broadly positive, with 23 Buy ratings and two Holds; the stock has a “Moderate Buy” consensus and an average price target of $100.40. Delta also raised its quarterly dividend to $0.215 per share.

Delta Air Lines, Inc. (NYSE:DAL - Get Free Report) Director David Dewalt sold 31,756 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $90.85, for a total transaction of $2,885,032.60. Following the transaction, the director owned 22,358 shares of the company's stock, valued at approximately $2,031,224.30. The trade was a 58.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Delta Air Lines Stock Performance

NYSE DAL traded up $0.36 during trading hours on Wednesday, reaching $93.13. 5,025,014 shares of the company were exchanged, compared to its average volume of 9,359,144. The stock has a market capitalization of $61.24 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.15 and a beta of 1.31. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. Delta Air Lines, Inc. has a 1 year low of $52.88 and a 1 year high of $95.68. The business's 50 day simple moving average is $85.87 and its 200-day simple moving average is $74.47.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.07. The firm had revenue of $17.67 billion for the quarter, compared to analysts' expectations of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 earnings per share. On average, equities research analysts expect that Delta Air Lines, Inc. will post 6.54 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were issued a $0.215 dividend. This is a boost from Delta Air Lines's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.9%. Delta Air Lines's payout ratio is presently 14.26%.

Analysts Set New Price Targets

Several brokerages have weighed in on DAL. Morgan Stanley increased their price objective on Delta Air Lines from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, July 10th. Cantor Fitzgerald set a $112.00 target price on Delta Air Lines in a research note on Tuesday, July 14th. BNP Paribas Exane dropped their price target on Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. Raymond James Financial downgraded Delta Air Lines from a "strong-buy" rating to an "outperform" rating and increased their price target for the stock from $80.00 to $104.00 in a research note on Monday, July 6th. Finally, BMO Capital Markets lifted their price objective on Delta Air Lines from $80.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Twenty-three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $100.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DAL. Accel Wealth Management purchased a new position in Delta Air Lines in the 2nd quarter valued at approximately $204,000. Tema ETFs LLC lifted its position in shares of Delta Air Lines by 10.2% during the second quarter. Tema ETFs LLC now owns 12,545 shares of the transportation company's stock worth $1,175,000 after acquiring an additional 1,160 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Delta Air Lines during the second quarter worth $1,379,000. Arbor Wealth Advisors LLC bought a new position in shares of Delta Air Lines in the second quarter worth $234,000. Finally, Great Waters Wealth Management boosted its holdings in shares of Delta Air Lines by 6.8% in the second quarter. Great Waters Wealth Management now owns 6,944 shares of the transportation company's stock worth $650,000 after acquiring an additional 442 shares during the period. 69.93% of the stock is owned by institutional investors.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.

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