Fifth Third Bancorp Buys 5,047 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Fifth Third Bancorp increased its stake in Delta Air Lines by 7.5% during the second quarter, acquiring an additional 5,047 shares, totaling 71,987 shares worth approximately $3.54 million.
• In the latest quarter, Delta Air Lines reported a revenue of $15.51 billion, slightly below analysts' expectations of $16.16 billion, with earnings per share (EPS) of $2.10, exceeding the consensus estimate.
• Delta Air Lines announced a quarterly dividend of $0.1875, reflecting an annualized dividend yield of 1.3%, with the payout scheduled for November 6th for shareholders on record by October 16th.

Fifth Third Bancorp lifted its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,987 shares of the transportation company's stock after buying an additional 5,047 shares during the quarter. Fifth Third Bancorp's holdings in Delta Air Lines were worth $3,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in shares of Delta Air Lines by 5.9% in the first quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock worth $7,037,000 after buying an additional 9,034 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Delta Air Lines by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company's stock valued at $160,900,000 after purchasing an additional 92,772 shares during the period. Exchange Traded Concepts LLC raised its stake in Delta Air Lines by 152.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock valued at $548,000 after purchasing an additional 7,586 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Delta Air Lines by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock valued at $1,670,000 after purchasing an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. raised its stake in Delta Air Lines by 1,169.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company's stock valued at $316,000 after purchasing an additional 6,677 shares during the period. Institutional investors own 69.93% of the company's stock.

Insider Transactions at Delta Air Lines

In related news, EVP Peter W. Carter sold 17,550 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the completion of the transaction, the executive vice president owned 191,442 shares in the company, valued at $10,948,567.98. The trade was a 8.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the transaction, the director owned 33,245 shares of the company's stock, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,473 shares of company stock worth $7,663,496. 0.88% of the stock is currently owned by corporate insiders.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $57.13 on Friday. The stock has a market cap of $37.30 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.73 and a beta of 1.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. The stock has a 50 day moving average price of $58.08 and a 200-day moving average price of $50.80. Delta Air Lines, Inc. has a one year low of $34.74 and a one year 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 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.09. The firm had revenue of $15.51 billion during the quarter, compared to analysts' expectations of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The company's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 EPS. Equities analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders 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 dividend yield of 1.3%. Delta Air Lines's payout ratio is 10.87%.

Analysts Set New Price Targets

Several analysts recently issued reports on DAL shares. Dbs Bank lifted their target price on Delta Air Lines from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on Delta Air Lines from $53.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Jefferies Financial Group lifted their price objective on Delta Air Lines from $56.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, July 14th. Susquehanna set a $65.00 price objective on Delta Air Lines and gave the stock a "positive" rating in a research note on Friday, July 11th. Finally, Raymond James Financial lifted their price objective on Delta Air Lines from $60.00 to $68.00 in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Delta Air Lines has a consensus rating of "Moderate Buy" and an average price target of $66.56.

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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