Delta Air Lines, Inc. $DAL Holdings Raised by Glenview Trust Co

Key Points

• Glenview Trust Co increased its Delta Air Lines stake by 7.9% in the first quarter, bringing its holdings to 274,125 shares valued at about $18.2 million.
• Delta reported better-than-expected Q2 results, posting EPS of $1.56 versus estimates of $1.49 and revenue of $17.67 billion, up 18.7% year over year.
• The company also raised its quarterly dividend to $0.215 per share from $0.19, while analysts remain broadly bullish with a consensus target price of about $100.40.

Glenview Trust Co raised its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 7.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 274,125 shares of the transportation company's stock after buying an additional 19,972 shares during the period. Glenview Trust Co's holdings in Delta Air Lines were worth $18,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lloyd Advisory Services LLC. purchased a new stake in shares of Delta Air Lines during the fourth quarter worth $31,000. SWAN Capital LLC increased its position in Delta Air Lines by 1,016.0% in the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company's stock worth $32,000 after purchasing an additional 508 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Delta Air Lines during the 4th quarter worth about $34,000. Cornerstone Planning Group LLC lifted its holdings in shares of Delta Air Lines by 451.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company's stock valued at $34,000 after buying an additional 429 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Delta Air Lines during the 4th quarter valued at about $35,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Up 0.3%

Shares of DAL stock opened at $84.44 on Tuesday. The stock's 50 day simple moving average is $82.77 and its 200 day simple moving average is $73.18. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42. Delta Air Lines, Inc. has a twelve month low of $50.44 and a twelve month high of $95.68. The company has a market capitalization of $55.53 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.04 and a beta of 1.29.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $17.67 billion during the quarter, compared to analyst estimates of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The company's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 EPS. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.66 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a $0.215 dividend. The ex-dividend date is Thursday, July 9th. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. Delta Air Lines's dividend payout ratio is presently 14.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Cowen boosted their price target on Delta Air Lines from $106.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. The Goldman Sachs Group raised their price objective on shares of Delta Air Lines from $80.00 to $116.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Sanford C. Bernstein reissued an "outperform" rating and issued a $106.00 target price on shares of Delta Air Lines in a research report on Monday, July 13th. Raymond James Financial downgraded shares of Delta Air Lines from a "strong-buy" rating to an "outperform" rating and boosted their target price for the stock from $80.00 to $104.00 in a research report on Monday, July 6th. Finally, Susquehanna raised their price target on shares of Delta Air Lines from $78.00 to $108.00 and gave the company a "positive" rating in a report on Tuesday, July 7th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and a consensus target price of $100.40.

Insiders Place Their Bets

In related news, EVP Allison C. Ausband sold 5,000 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the executive vice president directly owned 133,854 shares of the company's stock, valued at approximately $10,574,466. This represents a 3.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the transaction, the executive vice president owned 95,025 shares in the company, valued at $7,738,836. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,331 shares of company stock valued at $5,036,638 over the last 90 days. 0.80% of the stock is owned by corporate insiders.

Delta Air Lines 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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