5,000 Shares in Delta Air Lines, Inc. $DAL Acquired by Corient IA LLC

Key Points

• Corient IA LLC acquired 5,000 shares of Delta Air Lines, valued at approximately $218,000, as reported in their recent 13F filing with the SEC.
• Analysts have raised their price targets for Delta Air Lines, with Deutsche Bank raising it to $63.00 and TD Cowen to $66.00, reflecting a positive outlook for the stock.
• Delta Air Lines announced a dividend increase, raising it from $0.15 to $0.1875 per share, reflecting confidence in financial stability.

Corient IA LLC bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,000 shares of the transportation company's stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock worth $32,000 after buying an additional 431 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Delta Air Lines during the 1st quarter valued at $33,000. Continuum Advisory LLC increased its holdings in Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after purchasing an additional 179 shares in the last quarter. Hara Capital LLC acquired a new stake in Delta Air Lines during the 1st quarter valued at $35,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Delta Air Lines during the 1st quarter valued at $40,000. Institutional investors own 69.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DAL shares. Deutsche Bank Aktiengesellschaft raised their price target on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. TD Cowen raised their price target on Delta Air Lines from $55.00 to $66.00 and gave the company a "buy" rating in a report on Monday, July 14th. Raymond James Financial raised their price target on Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. Jefferies Financial Group lifted their target price on Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, July 14th. Finally, HSBC lifted their target price on Delta Air Lines from $64.00 to $69.20 in a research note on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.21.

Delta Air Lines Stock Up 1.5%

Shares of Delta Air Lines stock opened at $61.16 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The business has a fifty day simple moving average of $52.84 and a 200 day simple moving average of $50.99. The stock has a market cap of $39.93 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.88 and a beta of 1.56.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The business had revenue of $15,507,000 billion during the quarter, compared to analysts' expectations of $16.16 billion. During the same period in the previous year, the firm earned $2.36 earnings per share. The firm's quarterly revenue was down .1% compared to the same quarter last year. Research analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be given a dividend of $0.1875 per share. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines's payout ratio is 10.87%.

Insiders Place Their Bets

In other news, EVP Steven M. Sear sold 18,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the sale, the executive vice president owned 97,505 shares of the company's stock, valued at $5,456,379.80. This trade represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alain Bellemare sold 45,423 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $55.56, for a total value of $2,523,701.88. Following the sale, the executive vice president directly owned 131,731 shares in the company, valued at approximately $7,318,974.36. This represents a 25.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 133,973 shares of company stock worth $7,511,746. 0.96% of the stock is owned by company insiders.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.

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