First Hawaiian Bank Sells 6,672 Shares of Delta Air Lines, Inc. $DAL

Key Points

• First Hawaiian Bank reduced its shares in Delta Air Lines by 26.2%, selling 6,672 shares during the first quarter, leaving it with 18,750 shares worth approximately $818,000.
• Delta Air Lines reported a quarterly earnings of $2.10 per share, exceeding the consensus estimate of $2.01, but its revenue decreased by 0.1% year-over-year.
• The company has increased its quarterly dividend to $0.1875 per share, up from the previous $0.15, reflecting a 1.3% dividend yield.

First Hawaiian Bank cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 26.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,750 shares of the transportation company's stock after selling 6,672 shares during the period. First Hawaiian Bank's holdings in Delta Air Lines were worth $818,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DAL. Vanguard Group Inc. boosted its stake in Delta Air Lines by 0.7% in the first quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company's stock worth $3,179,508,000 after purchasing an additional 514,264 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Delta Air Lines by 30.2% during the first quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company's stock valued at $315,788,000 after acquiring an additional 1,681,464 shares during the period. AQR Capital Management LLC lifted its stake in shares of Delta Air Lines by 149.9% during the first quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company's stock valued at $246,487,000 after acquiring an additional 3,577,489 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Delta Air Lines by 66.9% during the first quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock valued at $257,918,000 after acquiring an additional 2,370,795 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Delta Air Lines by 5,224.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company's stock valued at $189,081,000 after acquiring an additional 4,255,262 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Stock Down 0.8%

Shares of Delta Air Lines stock opened at $59.94 on Monday. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The business has a 50-day moving average of $57.35 and a two-hundred day moving average of $50.47. The company has a market capitalization of $39.14 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51. 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 (NYSE:DAL - Get Free Report) last announced its quarterly 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 return on equity of 24.86% and a net margin of 7.24%.The company had revenue of $15.51 billion during the quarter, compared to the consensus estimate of $16.16 billion. During the same period in the prior year, the company earned $2.36 earnings per share. The company's revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, July 31st were issued a dividend of $0.1875 per share. The ex-dividend date was Thursday, July 31st. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. Delta Air Lines's dividend payout ratio is 10.87%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wolfe Research upped their price target on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Raymond James Financial upped their price target on Delta Air Lines from $60.00 to $68.00 in a research note on Friday, July 11th. UBS Group set a $72.00 price target on Delta Air Lines in a research note on Friday, July 11th. The Goldman Sachs Group increased their target price on Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Jefferies Financial Group increased their target price on Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $66.93.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 131,731 shares in the company, valued at approximately $7,318,974.36. This trade represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the transaction, the chief executive officer owned 632,823 shares of the company's stock, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock valued at $7,663,496 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

About Delta Air Lines

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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