Strengthening Families & Communities LLC trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 97.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,259 shares of the transportation company's stock after selling 46,670 shares during the quarter. Strengthening Families & Communities LLC's holdings in Delta Air Lines were worth $118,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Arlington Trust Co LLC boosted its stake in shares of Delta Air Lines by 11.7% in the second quarter. Arlington Trust Co LLC now owns 1,238 shares of the transportation company's stock worth $116,000 after buying an additional 130 shares during the last quarter. IFM Investors Pty Ltd raised its position in Delta Air Lines by 0.5% during the fourth quarter. IFM Investors Pty Ltd now owns 28,167 shares of the transportation company's stock valued at $1,955,000 after acquiring an additional 144 shares in the last quarter. Utah Retirement Systems raised its position in Delta Air Lines by 0.3% during the fourth quarter. Utah Retirement Systems now owns 52,620 shares of the transportation company's stock valued at $3,652,000 after acquiring an additional 144 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in Delta Air Lines by 2.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 6,022 shares of the transportation company's stock valued at $454,000 after acquiring an additional 151 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Delta Air Lines by 2.4% in the fourth quarter. Larson Financial Group LLC now owns 6,472 shares of the transportation company's stock valued at $449,000 after acquiring an additional 152 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Delta Air Lines
In related news, CEO Edward H. Bastian sold 206,510 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total transaction of $19,164,128.00. Following the completion of the transaction, the chief executive officer owned 1,363,448 shares in the company, valued at $126,527,974.40. This represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven M. Sear sold 40,460 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the transaction, the executive vice president owned 104,404 shares of the company's stock, valued at approximately $9,766,994.20. This trade represents a 27.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 356,726 shares of company stock valued at $33,081,037. Insiders own 0.80% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on DAL. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $106.00 price objective on shares of Delta Air Lines in a research note on Monday, July 13th. BMO Capital Markets boosted their target price on shares of Delta Air Lines from $80.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, July 2nd. Morgan Stanley increased their price target on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Wells Fargo & Company raised their price target on shares of Delta Air Lines from $75.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Finally, Evercore lifted their price objective on shares of Delta Air Lines from $85.00 to $105.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Twenty-three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and an average price target of $99.84.
Read Our Latest Stock Report on Delta Air Lines
Delta Air Lines Stock Up 2.2%
Shares of DAL opened at $78.07 on Thursday. The firm has a market cap of $51.34 billion, a P/E ratio of 12.95, a PEG ratio of 1.05 and a beta of 1.29. Delta Air Lines, Inc. has a 12 month low of $55.03 and a 12 month high of $95.68. The stock's 50 day moving average is $87.11 and its two-hundred day moving average is $76.77. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48.
Delta Air Lines (NYSE:DAL - Get Free Report) last announced 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. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business had revenue of $17.67 billion during the quarter, compared to the consensus estimate of $17.43 billion. During the same period in the prior year, the company posted $2.10 EPS. The business's quarterly revenue was up 18.7% on a year-over-year basis. Analysts predict that Delta Air Lines, Inc. will post 6.23 earnings per share for the current fiscal year.
Delta Air Lines Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Thursday, July 9th. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a yield of 1.1%. Delta Air Lines's payout ratio is 14.26%.
Delta Air Lines Profile
(
Free Report)
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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