Amundi Has $72.85 Million Stock Position in Delta Air Lines, Inc. $DAL

Key Points

• Amundi has reduced its stake in Delta Air Lines by 15.8%, now holding approximately $72.85 million in shares after selling 314,326 shares.
• Multiple analysts have raised their price targets for Delta Air Lines, with new targets ranging from $65.00 to $72.00, reflecting a consensus "Buy" rating among analysts.
• Delta Air Lines reported $2.10 EPS for its last quarter, surpassing estimates but showing a slight decline in revenue compared to the same period last year.

Amundi lowered its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 15.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,670,955 shares of the transportation company's stock after selling 314,326 shares during the quarter. Amundi owned about 0.26% of Delta Air Lines worth $72,854,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DAL. Janney Montgomery Scott LLC raised its holdings in Delta Air Lines by 5.9% in the first quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock worth $7,037,000 after purchasing an additional 9,034 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Delta Air Lines by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company's stock worth $160,900,000 after buying an additional 92,772 shares during the period. Exchange Traded Concepts LLC raised its stake in Delta Air Lines by 152.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock worth $548,000 after buying an additional 7,586 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Delta Air Lines by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock worth $1,670,000 after buying an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. raised its stake in Delta Air Lines by 1,169.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company's stock worth $316,000 after buying an additional 6,677 shares during the period. Institutional investors and hedge funds own 69.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on DAL shares. UBS Group set a $72.00 price objective on Delta Air Lines in a research note on Friday, July 11th. Barclays raised their price objective on Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Susquehanna Bancshares raised their price objective on Delta Air Lines from $51.00 to $65.00 and gave the stock a "positive" rating in a research note on Friday, July 11th. Bernstein Bank raised their price objective on Delta Air Lines from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, Citigroup raised their price objective on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $66.21.

Delta Air Lines Stock Performance

DAL opened at $61.12 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The business's 50-day moving average price is $56.26 and its two-hundred day moving average price is $50.56. The company has a market capitalization of $39.91 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 1.91 and a beta of 1.51.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The firm had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same period in the previous year, the business earned $2.36 EPS. The company's revenue was down .1% compared to the same quarter last year. Equities analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, July 31st were given a $0.1875 dividend. 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 was Thursday, July 31st. Delta Air Lines's dividend payout ratio (DPR) is presently 10.87%.

Insiders Place Their Bets

In related news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer owned 632,823 shares of the company's stock, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter W. Carter sold 17,550 shares of Delta Air Lines stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total value of $1,003,684.50. Following the completion of the sale, the executive vice president directly owned 191,442 shares in the company, valued at approximately $10,948,567.98. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,473 shares of company stock valued at $7,663,496 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.

About Delta Air Lines

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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