Callan Family Office LLC Purchases 18,304 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Callan Family Office LLC significantly increased its stake in Delta Air Lines by 285.5% in the 2nd quarter, purchasing an additional 18,304 shares, bringing its total holdings to 24,715 shares valued at approximately $1.2 million.
• Several hedge funds, including JT Stratford LLC and Sound Income Strategies LLC, also increased their positions in Delta Air Lines, indicating growing institutional interest in the company.
• Wall Street analysts are optimistic about Delta Air Lines, with multiple firms raising their price targets, and a strong consensus rating of "Buy" currently in place for the stock.

Callan Family Office LLC lifted its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 285.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,715 shares of the transportation company's stock after buying an additional 18,304 shares during the period. Callan Family Office LLC's holdings in Delta Air Lines were worth $1,215,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. JT Stratford LLC grew its stake in Delta Air Lines by 1.2% during the first quarter. JT Stratford LLC now owns 16,403 shares of the transportation company's stock valued at $715,000 after acquiring an additional 200 shares in the last quarter. one8zero8 LLC lifted its holdings in shares of Delta Air Lines by 1.1% in the 1st quarter. one8zero8 LLC now owns 21,405 shares of the transportation company's stock worth $933,000 after acquiring an additional 225 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Delta Air Lines by 14.7% in the 2nd quarter. Sound Income Strategies LLC now owns 1,911 shares of the transportation company's stock worth $94,000 after acquiring an additional 245 shares during the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in shares of Delta Air Lines by 5.0% in the 1st quarter. Mainstay Capital Management LLC ADV now owns 5,199 shares of the transportation company's stock worth $227,000 after acquiring an additional 246 shares during the last quarter. Finally, E&G Advisors LP lifted its holdings in shares of Delta Air Lines by 1.4% in the 1st quarter. E&G Advisors LP now owns 17,550 shares of the transportation company's stock worth $765,000 after acquiring an additional 250 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Peter W. Carter sold 17,550 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the sale, the executive vice president owned 191,442 shares of the company's stock, valued at approximately $10,948,567.98. The trade was a 8.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the sale, the director owned 33,245 shares of the company's stock, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,050 shares of company stock worth $5,139,795 in the last quarter. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Delta Air Lines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, September 29th. Barclays lifted their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Citigroup lifted their price objective on shares of Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a report on Friday, July 11th. Seaport Global Securities lifted their price objective on shares of Delta Air Lines from $69.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Finally, Jefferies Financial Group set a $70.00 price objective on shares of Delta Air Lines and gave the company a "buy" rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company. According to data from MarketBeat.com, Delta Air Lines currently has an average rating of "Buy" and an average price target of $70.11.

Delta Air Lines Trading Down 3.4%

NYSE DAL opened at $57.56 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. The company has a market capitalization of $37.59 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.48 and a beta of 1.50. The company's 50-day simple moving average is $58.65 and its two-hundred day simple moving average is $51.60. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The business had revenue of $8.40 billion for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. Equities analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines's payout ratio is currently 10.56%.

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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