Delta Air Lines, Inc. $DAL Shares Sold by 111 Capital

Key Points

• 111 Capital significantly reduced its holdings in Delta Air Lines, decreasing its position by 54.6% during the second quarter, now owning 5,163 shares valued at approximately $254,000.
• Delta Air Lines announced a quarterly dividend of $0.1875 per share, with an upcoming payment scheduled for November 6th, representing a 1.3% dividend yield.
• Analyst ratings for Delta Air Lines remain positive, with a consensus rating of "Buy" and several firms raising their price targets, including Seaport Global Securities increasing it to $80.00.

111 Capital lowered its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 54.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,163 shares of the transportation company's stock after selling 6,204 shares during the quarter. 111 Capital's holdings in Delta Air Lines were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DAL. Vanguard Group Inc. grew its holdings in Delta Air Lines by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company's stock worth $3,179,508,000 after buying an additional 514,264 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Delta Air Lines during the 2nd quarter worth $386,364,000. Invesco Ltd. boosted its position in Delta Air Lines by 30.2% during the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company's stock worth $315,788,000 after acquiring an additional 1,681,464 shares during the period. AQR Capital Management LLC grew its stake in shares of Delta Air Lines by 149.9% in the first quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company's stock worth $246,487,000 after purchasing an additional 3,577,489 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Delta Air Lines by 66.9% during the first quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock valued at $257,918,000 after purchasing an additional 2,370,795 shares during the period. Institutional investors own 69.93% of the company's stock.

Insiders Place Their Bets

In related news, EVP Peter W. Carter sold 17,550 shares of Delta Air Lines stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total value of $1,003,684.50. Following the transaction, the executive vice president owned 191,442 shares of the company's stock, valued at approximately $10,948,567.98. This trade represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer owned 632,823 shares in the company, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,473 shares of company stock worth $7,663,496 over the last three months. Company insiders own 0.96% of the company's stock.

Delta Air Lines Stock Up 1.8%

DAL stock opened at $58.30 on Tuesday. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The firm has a market cap of $38.07 billion, a PE ratio of 8.45, a P/E/G ratio of 1.53 and a beta of 1.50. The firm has a 50 day simple moving average of $58.28 and a 200 day simple moving average of $51.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The firm had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same quarter in the previous year, the business posted $2.36 earnings per share. The firm's quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share 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. 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 1.3%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines's dividend payout ratio is currently 10.87%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DAL shares. Seaport Global Securities upped their price objective on shares of Delta Air Lines from $69.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Raymond James Financial boosted their price target on shares of Delta Air Lines from $60.00 to $68.00 in a research report on Friday, July 11th. Citigroup increased 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. The Goldman Sachs Group raised their price objective on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, BNP Paribas Exane upped their target price on Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $67.84.

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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