Envestnet Portfolio Solutions Inc. Sells 9,866 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 34.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,839 shares of the transportation company's stock after selling 9,866 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Delta Air Lines were worth $821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Johnson Investment Counsel Inc. increased its position in shares of Delta Air Lines by 17.3% during the first quarter. Johnson Investment Counsel Inc. now owns 12,528 shares of the transportation company's stock valued at $546,000 after buying an additional 1,846 shares during the period. State of Alaska Department of Revenue grew its stake in Delta Air Lines by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 75,180 shares of the transportation company's stock valued at $3,277,000 after acquiring an additional 2,085 shares in the last quarter. Prosperity Wealth Management Inc. bought a new stake in Delta Air Lines during the 1st quarter worth approximately $700,000. CENTRAL TRUST Co lifted its stake in Delta Air Lines by 15.5% in the 1st quarter. CENTRAL TRUST Co now owns 5,924 shares of the transportation company's stock worth $258,000 after purchasing an additional 796 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Delta Air Lines by 168.1% in the 1st quarter. QRG Capital Management Inc. now owns 244,937 shares of the transportation company's stock worth $10,679,000 after purchasing an additional 153,565 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Stock Down 2.4%

Shares of NYSE DAL opened at $48.35 on Thursday. The stock has a market capitalization of $31.57 billion, a P/E ratio of 8.57, a PEG ratio of 2.51 and a beta of 1.51. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The firm's 50 day simple moving average is $47.12 and its two-hundred day simple moving average is $53.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.38 and a quick ratio of 0.33.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.91% and a return on equity of 28.18%. The business had revenue of $12.98 billion during the quarter, compared to analysts' expectations of $13.85 billion. During the same period last year, the company posted $0.45 EPS. Delta Air Lines's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date 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 10.64%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DAL shares. Susquehanna decreased their price target on shares of Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Raymond James Financial reduced their target price on Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. TD Cowen raised their price target on Delta Air Lines from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Wall Street Zen downgraded Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.67.

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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