Delta Air Lines, Inc. $DAL Position Lowered by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in Delta Air Lines by 6.5%, now holding 132,331 shares valued at approximately $6.5 million.
• Delta Air Lines will pay a quarterly dividend of $0.1875 per share on November 6th, which translates to an annualized dividend of $0.75 and a yield of 1.3%.
• Wall Street analysts are optimistic about Delta Air Lines, with the average target price rising to $70.11 and most giving it a Buy rating.

US Bancorp DE decreased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,331 shares of the transportation company's stock after selling 9,211 shares during the period. US Bancorp DE's holdings in Delta Air Lines were worth $6,508,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of DAL. Brighton Jones LLC lifted its holdings in Delta Air Lines by 33.5% in the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock worth $555,000 after acquiring an additional 2,302 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Delta Air Lines by 169.9% in the first quarter. Farther Finance Advisors LLC now owns 14,391 shares of the transportation company's stock worth $610,000 after acquiring an additional 9,059 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Delta Air Lines by 3.7% in the first quarter. GAMMA Investing LLC now owns 9,585 shares of the transportation company's stock worth $418,000 after acquiring an additional 344 shares during the last quarter. CVA Family Office LLC lifted its holdings in Delta Air Lines by 8.7% in the first quarter. CVA Family Office LLC now owns 3,935 shares of the transportation company's stock worth $172,000 after acquiring an additional 315 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Delta Air Lines by 22.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 109,977 shares of the transportation company's stock worth $4,795,000 after acquiring an additional 20,057 shares during the last quarter. Institutional investors own 69.93% of the company's stock.

Insider Activity at Delta Air Lines

In related news, CEO Edward H. Bastian sold 35,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, the chief executive officer owned 632,823 shares in the company, valued at $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven M. Sear sold 18,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the transaction, the executive vice president owned 97,505 shares in the company, valued at $5,456,379.80. This represents a 15.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,050 shares of company stock worth $5,139,795 over the last ninety days. Insiders own 0.96% of the company's stock.

Delta Air Lines Stock Performance

DAL opened at $57.56 on Monday. The business's 50 day moving average is $58.65 and its 200-day moving average is $51.60. The stock has a market cap of $37.59 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.48 and a beta of 1.50. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98.

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

Delta Air Lines Dividend Announcement

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

Wall Street Analysts Forecast Growth

DAL has been the topic of a number of recent research reports. Susquehanna Bancshares raised their target price on shares of Delta Air Lines from $51.00 to $65.00 and gave the stock a "positive" rating in a report on Friday, July 11th. JPMorgan Chase & Co. raised their target price on shares of Delta Air Lines from $72.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Barclays raised their target price on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Susquehanna raised their target price on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a "positive" rating in a report on Friday. Finally, Dbs Bank upgraded shares of Delta Air Lines from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $70.11.

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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