Chicago Partners Investment Group LLC Raises Stake in Delta Air Lines, Inc. $DAL

Key Points

• Chicago Partners Investment Group LLC raised its stake in Delta Air Lines by 114.4% in Q2, owning 11,822 shares valued at $581,000 by the end of the quarter.
• Analysts are optimistic about Delta Air Lines, with several brokerages raising their target prices, including Deutsche Bank which increased it from $63 to $72, maintaining a "buy" rating.
• Delta Air Lines recently announced a quarterly dividend of $0.1875 per share, reflecting an annualized dividend yield of 1.2% and a payout ratio of 10.56%.

Chicago Partners Investment Group LLC raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 114.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,822 shares of the transportation company's stock after purchasing an additional 6,308 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Delta Air Lines were worth $581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DAL. Signature Resources Capital Management LLC bought a new stake in Delta Air Lines during the 2nd quarter valued at about $25,000. Activest Wealth Management increased its stake in Delta Air Lines by 2,280.8% during the 2nd quarter. Activest Wealth Management now owns 619 shares of the transportation company's stock valued at $30,000 after purchasing an additional 593 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in Delta Air Lines during the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT purchased a new position in shares of Delta Air Lines during the first quarter valued at approximately $33,000. Finally, Hara Capital LLC purchased a new position in shares of Delta Air Lines during the first quarter valued at approximately $35,000. 69.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on DAL. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Delta Air Lines from $63.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, October 10th. Morgan Stanley boosted their target price on shares of Delta Air Lines from $88.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wolfe Research upped their price target on shares of Delta Air Lines from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Bank of America boosted their price objective on shares of Delta Air Lines from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, October 15th. Finally, Citigroup upped their price target on shares of Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $71.53.

Insider Buying and Selling at Delta Air Lines

In other news, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the transaction, the director owned 33,245 shares in the company, valued at $2,017,971.50. The trade was a 6.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the business's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the sale, the senior vice president owned 15,816 shares in the company, valued at approximately $968,730. This trade represents a 46.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $62.34 on Wednesday. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The stock has a market capitalization of $40.71 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The firm's 50 day simple moving average is $59.59 and its 200-day simple moving average is $52.47.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The company had revenue of $8.40 billion for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. Analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 16th. Delta Air Lines's payout ratio is currently 10.56%.

Delta Air Lines 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.