Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its stake in Delta Air Lines by 13.2% during the first quarter, holding 183,146 shares worth approximately $7.98 million after selling 27,925 shares.
• Delta Air Lines reported earnings of $2.10 EPS for the last quarter, surpassing analyst expectations of $2.01 EPS, although revenue decreased by 0.1% year-over-year.
• The company announced an increase in its quarterly dividend to $0.1875 per share, reflecting a positive change from the previous dividend of $0.15.

Cetera Investment Advisers lowered its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,146 shares of the transportation company's stock after selling 27,925 shares during the quarter. Cetera Investment Advisers' holdings in Delta Air Lines were worth $7,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. HighPoint Advisor Group LLC boosted its holdings in shares of Delta Air Lines by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 8,555 shares of the transportation company's stock valued at $554,000 after buying an additional 155 shares in the last quarter. Continuum Advisory LLC boosted its stake in Delta Air Lines by 44.2% in the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after purchasing an additional 179 shares in the last quarter. Utah Retirement Systems boosted its stake in Delta Air Lines by 0.4% in the 4th quarter. Utah Retirement Systems now owns 52,725 shares of the transportation company's stock worth $3,190,000 after purchasing an additional 200 shares in the last quarter. Coppell Advisory Solutions LLC raised its position in Delta Air Lines by 13.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,791 shares of the transportation company's stock worth $109,000 after buying an additional 206 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its position in Delta Air Lines by 2.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 7,671 shares of the transportation company's stock worth $464,000 after buying an additional 212 shares during the last quarter. Institutional investors own 69.93% of the company's stock.

Insider Activity

In other news, EVP Steven M. Sear sold 18,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 35,000 shares of the business's stock in a transaction dated 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 directly 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. In the last 90 days, insiders sold 133,973 shares of company stock worth $7,511,746. 0.96% of the stock is owned by insiders.

Delta Air Lines Price Performance

NYSE DAL traded down $0.03 on Tuesday, hitting $52.49. The company had a trading volume of 3,232,205 shares, compared to its average volume of 10,958,779. The company has a market capitalization of $34.28 billion, a PE ratio of 7.61, a PEG ratio of 1.60 and a beta of 1.56. The company's fifty day moving average price is $51.38 and its 200-day moving average price is $51.76. 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, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its 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 company had revenue of $15,507,000 billion for the quarter, compared to analysts' expectations of $16.16 billion. During the same quarter in the previous year, the company posted $2.36 EPS. The firm's quarterly revenue was down .1% on a year-over-year basis. As a group, analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio is presently 10.87%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DAL shares. UBS Group set a $72.00 price target on shares of Delta Air Lines in a research report on Friday, July 11th. Wall Street Zen lowered shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Bernstein Bank lifted their target price on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Jefferies Financial Group lifted their target price on shares of Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a report on Monday, July 14th. Finally, Citigroup lifted their target price 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. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.21.

Delta Air Lines 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.