Delta Air Lines, Inc. $DAL Shares Acquired by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC increased its stake in Delta Air Lines by 73.7% during the second quarter, holding 20,595 shares valued at over $1 million, highlighting institutional investor interest in the airline's stock.
• Analysts are optimistic about Delta Air Lines, with several firms raising their price targets, reflecting strong performance expectations; the average price target now sits at $70.31.
• Delta Air Lines has announced a quarterly dividend of $0.1875 per share to be paid on November 6th, providing an annualized yield of 1.3% to shareholders.

NorthRock Partners LLC lifted its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 73.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,595 shares of the transportation company's stock after acquiring an additional 8,741 shares during the period. NorthRock Partners LLC's holdings in Delta Air Lines were worth $1,013,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DAL shares. Bernstein Bank increased their price objective on shares of Delta Air Lines from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Evercore ISI increased their price objective on shares of Delta Air Lines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, September 29th. Dbs Bank raised shares of Delta Air Lines from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. UBS Group raised their price target on shares of Delta Air Lines from $72.00 to $75.00 and gave the company a "buy" rating in a report on Friday. Finally, Raymond James Financial raised their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a "strong-buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $70.31.

Insider Transactions at Delta Air Lines

In related news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer directly owned 632,823 shares in the company, valued at $35,615,278.44. This trade represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the sale, the director owned 33,245 shares in the company, valued at approximately $2,017,971.50. This represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.96% of the company's stock.

Delta Air Lines Trading Up 2.1%

Delta Air Lines stock opened at $58.68 on Tuesday. The firm's 50-day moving average is $58.77 and its 200-day moving average is $51.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The company has a market cap of $38.32 billion, a P/E ratio of 8.27, a PEG ratio of 1.48 and a beta of 1.50.

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

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be given a $0.1875 dividend. 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 presently 10.56%.

Delta Air Lines Company 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.

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