Amundi Decreases Stake in Delta Air Lines, Inc. $DAL

Key Points

• Amundi reduced its Delta Air Lines stake by 3.8% in the first quarter, selling 81,054 shares and retaining 2.06 million shares worth approximately $137.2 million.
• Other institutional investors, including Wellington Management, Bank of New York Mellon, Pacer Advisors and AQR Capital, increased their positions; institutions collectively own about 69.93% of DAL.
• Delta exceeded quarterly earnings and revenue estimates, reporting $1.56 in EPS and $17.67 billion in revenue, while raising its quarterly dividend to $0.215 per share. Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $100.40.

Amundi cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,063,614 shares of the transportation company's stock after selling 81,054 shares during the period. Amundi owned approximately 0.31% of Delta Air Lines worth $137,189,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DAL. Wellington Management Group LLP raised its stake in Delta Air Lines by 137.4% in the fourth quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company's stock valued at $958,538,000 after buying an additional 7,994,004 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Delta Air Lines in the fourth quarter valued at about $471,532,000. Bank of New York Mellon Corp boosted its position in shares of Delta Air Lines by 29.2% in the 1st quarter. Bank of New York Mellon Corp now owns 12,270,241 shares of the transportation company's stock worth $815,726,000 after buying an additional 2,773,945 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Delta Air Lines by 1,579.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,673,400 shares of the transportation company's stock valued at $185,534,000 after buying an additional 2,514,193 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Delta Air Lines by 44.3% in the 4th quarter. AQR Capital Management LLC now owns 6,155,776 shares of the transportation company's stock valued at $426,441,000 after purchasing an additional 1,890,521 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company's stock.

More Delta Air Lines News

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

• Positive Sentiment: Wall Street analysts remain optimistic about Delta’s prospects, with coverage emphasizing the stock’s market outperformance and favorable recommendations. This supports investor confidence, although the reports provide limited new fundamental information. Do Wall Street Analysts Like Delta Air Lines Stock? Do Wall Street Analysts Like Delta Air Lines Stock?
• Positive Sentiment: A Delta partnership with DraftKings will offer customers a free-to-play sports knowledge contest. The initiative could modestly strengthen customer engagement and ancillary revenue opportunities, but its direct financial effect is likely limited. Delta, DraftKings partner on free-to-play sports knowledge contest
• Neutral Sentiment: Delta has attracted elevated attention from Zacks users, while broker commentary continues to favor the stock. The increased visibility may support trading interest, but it does not represent a new earnings or operating catalyst. Delta Air Lines Is a Trending Stock Brokers Suggest Investing in Delta
• Neutral Sentiment: Boeing narrowly led Airbus in orders at the Farnborough Airshow. A healthier Boeing could eventually improve aircraft supply and fleet-planning flexibility for airlines such as Delta, but the development has no immediate, material impact on DAL. Airlines Are Still Willing to Bet on Boeing

Delta Air Lines Stock Down 1.2%

Shares of NYSE DAL opened at $87.53 on Friday. The business has a 50-day moving average of $85.29 and a 200-day moving average of $74.12. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $57.56 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.11 and a beta of 1.29. Delta Air Lines, Inc. has a 12 month low of $50.44 and a 12 month high of $95.68.

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, topping analysts' consensus estimates of $1.49 by $0.07. The company had revenue of $17.67 billion during the quarter, compared to the consensus estimate of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.Delta Air Lines's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. Sell-side analysts expect that Delta Air Lines, Inc. will post 6.54 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 9th. This is an increase from Delta Air Lines's previous quarterly dividend of $0.19. Delta Air Lines's payout ratio is presently 14.26%.

Insider Transactions at Delta Air Lines

In related news, EVP Allison C. Ausband sold 9,710 shares of Delta Air Lines stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $76.00, for a total value of $737,960.00. Following the completion of the sale, the executive vice president directly owned 138,854 shares in the company, valued at approximately $10,552,904. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 25,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the sale, the executive vice president owned 95,025 shares of the company's stock, valued at $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 65,331 shares of company stock valued at $5,036,638. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on DAL shares. JPMorgan Chase & Co. lifted their target price on shares of Delta Air Lines from $85.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. HSBC cut their price target on Delta Air Lines from $80.20 to $79.30 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Morgan Stanley upped their price target on Delta Air Lines from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Citigroup boosted their price target on shares of Delta Air Lines from $106.00 to $110.00 and gave the company a "buy" rating in a report on Sunday, July 12th. Finally, BMO Capital Markets boosted their price target on shares of Delta Air Lines from $80.00 to $105.00 and gave the stock an "outperform" rating in a research report on Thursday, July 2nd. Twenty-three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of "Moderate Buy" and an average price target of $100.40.

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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