Allworth Financial LP Cuts Stock Holdings in Delta Air Lines, Inc. $DAL

Key Points

• Allworth Financial LP reduced its Delta Air Lines stake by 21.6% in the fourth quarter, selling 24,370 shares and leaving it with 88,709 shares worth about $6.16 million.
• Several other institutional investors either started new positions or increased holdings, and institutions overall now own 69.93% of Delta’s stock.
• Delta reported stronger-than-expected quarterly results, with EPS of $0.64 and revenue of $14.20 billion, while also announcing a quarterly dividend of $0.1875 per share to be paid on June 4.

Allworth Financial LP cut its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,709 shares of the transportation company's stock after selling 24,370 shares during the quarter. Allworth Financial LP's holdings in Delta Air Lines were worth $6,156,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Catalyst Financial Partners LLC bought a new position in Delta Air Lines in the fourth quarter worth approximately $299,000. Strategic Family Wealth Counselors L.L.C. bought a new stake in Delta Air Lines during the 4th quarter valued at $281,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Delta Air Lines by 2.7% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 57,383 shares of the transportation company's stock worth $3,982,000 after buying an additional 1,494 shares during the period. Legacy Financial Advisors Inc. grew its position in shares of Delta Air Lines by 17.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 19,804 shares of the transportation company's stock worth $1,374,000 after buying an additional 3,013 shares in the last quarter. Finally, World Investment Advisors grew its position in shares of Delta Air Lines by 16.8% during the 4th quarter. World Investment Advisors now owns 14,957 shares of the transportation company's stock worth $1,038,000 after buying an additional 2,147 shares in the last quarter. Institutional investors own 69.93% of the company's stock.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $71.61, for a total value of $1,074,150.00. Following the completion of the transaction, the executive vice president directly owned 54,369 shares in the company, valued at $3,893,364.09. This trade represents a 21.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward H. Bastian sold 100,000 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $70.26, for a total transaction of $7,026,000.00. Following the transaction, the chief executive officer owned 1,363,448 shares in the company, valued at approximately $95,795,856.48. The trade was a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 204,925 shares of company stock valued at $14,323,395. 0.80% of the stock is owned by insiders.

Delta Air Lines Trading Down 1.8%

Shares of DAL opened at $70.28 on Friday. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 1.03 and a beta of 1.25. Delta Air Lines, Inc. has a 12-month low of $45.28 and a 12-month high of $76.39. The stock's 50-day moving average price is $66.94 and its 200 day moving average price is $66.69. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.54.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the business earned $0.46 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that Delta Air Lines, Inc. will post 5.26 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.75 dividend on an annualized basis and a yield of 1.1%. Delta Air Lines's dividend payout ratio (DPR) is 10.93%.

Key Delta Air Lines News

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Berkshire Hathaway reported a new position in Delta Air Lines worth more than $2.6 billion, signaling strong institutional confidence in DAL and likely boosting sentiment around the stock. Berkshire Hathaway returns to airlines with $2.6 billion stake in Delta Air Lines
• Positive Sentiment: Investor reaction is also supported by reports that Citi remains bullish on Delta, reinforcing the view that DAL still has analyst support despite a choppy airline backdrop. Citi Remains a Buy on Delta Air Lines (DAL)
• Neutral Sentiment: Delta is still trading in a volatile airline environment, with rising jet fuel prices pressuring carriers across the sector as they cut capacity, raise fares, and trim forecasts. Will Airline ETFs Shield Your Portfolio Against Rising Jet Fuel Prices?
• Neutral Sentiment: Delta also announced a 4% employee pay raise, which is positive for labor relations but adds to cost pressure at a time when the industry faces fuel and demand uncertainty. Delta gives workers 4% pay raise amid industry uncertainty
• Neutral Sentiment: Separate headlines about Delta’s choice of Amazon’s LEO internet service over Starlink, and Elon Musk’s criticism of that decision, are more of a corporate/branding story than a clear earnings catalyst for DAL. Delta won't use Starlink. Elon Musk is not happy.

Analyst Ratings Changes

A number of brokerages recently commented on DAL. Jefferies Financial Group boosted their price objective on shares of Delta Air Lines from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Wolfe Research dropped their price objective on shares of Delta Air Lines from $81.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. BNP Paribas Exane cut their price objective on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 21st. Wells Fargo & Company cut their price target on Delta Air Lines from $87.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, March 16th. Finally, TD Cowen raised their target price on Delta Air Lines from $76.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.76.

Delta Air Lines Company Profile

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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