Deltec Asset Management LLC Reduces Stake in Delta Air Lines, Inc. $DAL

Key Points

• Deltec Asset Management LLC reduced its stake in Delta Air Lines by 61.1%, holding only 10,700 shares after selling 16,800 shares in the second quarter, reflecting a current value of $526,000.
• Analysts have raised their price targets for Delta Air Lines, with estimates ranging from $60.00 to $80.00, indicating a positive outlook with an average rating of "Buy."
• Delta Air Lines announced a quarterly dividend of $0.1875 per share, representing an annualized yield of 1.3%, to be paid on November 6th to shareholders of record.

Deltec Asset Management LLC lowered its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 61.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,700 shares of the transportation company's stock after selling 16,800 shares during the period. Deltec Asset Management LLC's holdings in Delta Air Lines were worth $526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC purchased a new position in shares of Delta Air Lines during the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Delta Air Lines during the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT purchased a new position in shares of Delta Air Lines during the first quarter valued at approximately $33,000. Hara Capital LLC purchased a new stake in shares of Delta Air Lines in the first quarter valued at approximately $35,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Delta Air Lines in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on DAL shares. Dbs Bank boosted their price target on Delta Air Lines from $55.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, September 10th. Evercore ISI upped their target price on Delta Air Lines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Susquehanna set a $65.00 target price on Delta Air Lines and gave the company a "positive" rating in a research report on Friday, July 11th. Finally, Seaport Global Securities upped their target price on Delta Air Lines from $69.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $67.69.

Delta Air Lines Trading Down 1.6%

Shares of Delta Air Lines stock opened at $56.71 on Wednesday. The firm has a market capitalization of $37.03 billion, a PE ratio of 8.22, a P/E/G ratio of 1.76 and a beta of 1.51. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The firm's 50-day moving average price is $58.13 and its 200 day moving average price is $51.01. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.09. The firm had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. Delta Air Lines's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $2.36 EPS. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. Delta Air Lines's dividend payout ratio is presently 10.87%.

Insider Buying and Selling

In other Delta Air Lines news, EVP Peter W. Carter sold 17,550 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total value of $1,003,684.50. Following the completion of the sale, the executive vice president owned 191,442 shares in the company, valued at approximately $10,948,567.98. This represents a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alain Bellemare sold 45,423 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the sale, the executive vice president owned 131,731 shares of the company's stock, valued at $7,318,974.36. This represents a 25.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,473 shares of company stock worth $7,663,496 in the last 90 days. Corporate insiders own 0.96% of the company's stock.

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.

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