Evolve Private Wealth LLC Takes Position in Delta Air Lines, Inc. $DAL

Key Points

• Evolve Private Wealth LLC initiated a new position in Delta Air Lines during the fourth quarter, buying 70,822 shares valued at about $4.9 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 69.93% of Delta’s stock. Several large firms, including Capital International Investors and State Street, also increased their stakes.
• Delta has been supported by generally positive fundamentals and sentiment: it beat quarterly EPS and revenue estimates, raised analyst attention, and recently announced a quarterly dividend of $0.1875 per share. Recent headlines also highlighted fuel-efficiency upgrades and a DOT clearance related to its handling of the 2024 IT outage.

Evolve Private Wealth LLC purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 70,822 shares of the transportation company's stock, valued at approximately $4,915,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors increased its position in Delta Air Lines by 4.4% during the 4th quarter. Capital International Investors now owns 24,211,101 shares of the transportation company's stock worth $1,680,249,000 after purchasing an additional 1,012,265 shares during the period. State Street Corp lifted its holdings in shares of Delta Air Lines by 0.7% in the 4th quarter. State Street Corp now owns 23,163,644 shares of the transportation company's stock valued at $1,607,557,000 after buying an additional 165,729 shares during the period. Geode Capital Management LLC boosted its stake in shares of Delta Air Lines by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company's stock valued at $1,215,766,000 after buying an additional 202,865 shares in the last quarter. Morgan Stanley grew its holdings in Delta Air Lines by 0.5% during the fourth quarter. Morgan Stanley now owns 12,310,804 shares of the transportation company's stock worth $854,370,000 after acquiring an additional 56,455 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Delta Air Lines by 23.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,496,296 shares of the transportation company's stock worth $659,043,000 after acquiring an additional 1,834,385 shares during the period. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 25,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the sale, the executive vice president directly owned 95,025 shares of the company's stock, valued at $7,738,836. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allison C. Ausband sold 9,710 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the transaction, the executive vice president directly owned 138,854 shares in the company, valued at $10,552,904. The trade was a 6.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 149,635 shares of company stock worth $10,833,855. Corporate insiders own 0.80% of the company's stock.

Key Headlines Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Bernstein reportedly raised its outlook on Delta, adding to a wave of favorable analyst attention that could support the stock by reinforcing expectations for earnings upside. Delta Air Lines To Rally Around 12%? Here Are 10 Top Analyst Forecasts For Wednesday
• Positive Sentiment: Delta said it will install VCT finlets across 240 Boeing 737NG aircraft, a move aimed at improving fuel efficiency and lowering operating costs over time. Delta Advances Fleet Efficiency with VCT Finlets Across 737NG Fleet
• Positive Sentiment: Reports that crude oil prices may fall if geopolitical tensions ease are constructive for airlines like Delta because jet fuel is a major expense and cheaper fuel can widen margins. 3 Stocks to Watch If the Strait of Hormuz Reopens
• Positive Sentiment: Delta was cleared by the U.S. Department of Transportation for its handling of the 2024 global IT outage, removing a potential regulatory overhang. Delta Air Lines is cleared by the DOT for how it handled the 2024 global IT outage
• Neutral Sentiment: Recent coverage also noted Delta’s quarter in the context of broader travel-sector earnings, but that piece appears more like benchmark commentary than a new stock-moving catalyst. Consumer Discretionary - Travel and Vacation Providers Stocks Q1 Results: Benchmarking Delta NYSE: DAL
• Neutral Sentiment: News that Spirit Airlines may make a comeback is mostly an industry headline and is not clearly a direct near-term driver for Delta’s shares. After Chapter 11 shutdown, Spirit Airlines may make a comeback
• Negative Sentiment: Bloomberg reported Delta may drop Safran as a supplier for new business-class suites after supply-chain and regulatory delays, which could signal execution risk around premium-cabin rollout plans. Delta Air Lines (DAL) Might Drop Safran SA, Reports Bloomberg

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $82.11 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. The company's 50-day moving average price is $74.00 and its 200 day moving average price is $70.01. Delta Air Lines, Inc. has a 52 week low of $45.28 and a 52 week high of $87.39. The stock has a market cap of $53.94 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.17 and a beta of 1.30.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. As a group, research analysts forecast that Delta Air Lines, Inc. will post 5.37 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were paid a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.75 annualized dividend and a yield of 0.9%. Delta Air Lines's payout ratio is presently 10.93%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore reissued an "outperform" rating and issued a $85.00 target price on shares of Delta Air Lines in a report on Friday, April 17th. Rothschild & Co Redburn cut their price target on shares of Delta Air Lines from $72.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Morgan Stanley boosted their price objective on shares of Delta Air Lines from $90.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Wolfe Research dropped their target price on shares of Delta Air Lines from $81.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Finally, Susquehanna reduced their price target on shares of Delta Air Lines from $81.00 to $78.00 and set a "positive" rating for the company in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.05.

Delta Air Lines Company 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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