Delta Air Lines, Inc. $DAL Shares Sold by KMG Fiduciary Partners LLC

Key Points

• KMG Fiduciary Partners cut its Delta Air Lines stake by 55.6% in the second quarter, selling 47,634 shares and retaining 38,083 shares valued at $3.57 million. Institutional investors collectively own 69.93% of Delta’s stock.
• Delta reported quarterly earnings of $1.56 per share, beating estimates of $1.49, while revenue rose 18.7% year over year to $17.67 billion. The company also increased its quarterly dividend to $0.215 per share, or $0.86 annually.
• Analyst sentiment remains positive, with 23 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $100.40. However, Delta insiders sold 401,436 shares worth approximately $36.6 million during the last quarter.

KMG Fiduciary Partners LLC cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 55.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,083 shares of the transportation company's stock after selling 47,634 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Delta Air Lines were worth $3,567,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its stake 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 valued at $555,000 after buying an additional 2,302 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Delta Air Lines during the first quarter worth about $178,000. Sivia Capital Partners LLC acquired a new stake in shares of Delta Air Lines in the 2nd quarter worth about $555,000. Marshall Wace LLP boosted its stake in Delta Air Lines by 102.2% during the 2nd quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company's stock valued at $385,000 after purchasing an additional 357,825 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Delta Air Lines by 10.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company's stock worth $2,859,000 after purchasing an additional 5,564 shares during the last quarter. Institutional investors own 69.93% of the company's stock.

Delta Air Lines Trading Down 2.6%

Delta Air Lines stock opened at $88.99 on Tuesday. The firm has a market cap of $58.52 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31. Delta Air Lines, Inc. has a 1 year low of $53.12 and a 1 year high of $95.68. The firm's 50 day moving average price is $86.62 and its two-hundred day moving average price is $75.07. 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 (NYSE:DAL - Get Free Report) last released its quarterly earnings data 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 business 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 was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $2.10 EPS. On average, research analysts predict that Delta Air Lines, Inc. will post 6.54 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were paid a $0.215 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.19. Delta Air Lines's dividend payout ratio (DPR) is 14.26%.

Insider Activity

In other Delta Air Lines news, EVP Alain Bellemare sold 35,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares of the company's stock, valued at approximately $8,810,718. This represents a 26.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Peter W. Carter sold 39,900 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $92.98, for a total transaction of $3,709,902.00. Following the completion of the transaction, the president owned 424,704 shares of the company's stock, valued at approximately $39,488,977.92. The trade was a 8.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 401,436 shares of company stock worth $36,617,497. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DAL shares. JPMorgan Chase & Co. lifted their price target on Delta Air Lines from $85.00 to $114.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Jefferies Financial Group raised their target price on Delta Air Lines from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings raised Delta Air Lines from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. The Goldman Sachs Group reissued a "buy" rating on shares of Delta Air Lines in a research note on Monday, August 3rd. Finally, Raymond James Financial lowered Delta Air Lines from a "strong-buy" rating to an "outperform" rating and raised their price target for the company from $80.00 to $104.00 in a report on Monday, July 6th. Twenty-three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.40.

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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