GC Wealth Management RIA LLC Takes $278,000 Position in Delta Air Lines, Inc. $DAL

Key Points

• GC Wealth Management RIA LLC has taken a new position in Delta Air Lines, investing approximately $278,000 for 5,646 shares during the second quarter.
• CEO Edward H. Bastian recently sold 35,000 shares of Delta stock valued at approximately $1.97 million, signaling a 5.24% decrease in his ownership.
• Several analysts have increased their price targets for Delta, with Raymond James raising its target from $60.00 to $68.00 and Seaport Global Securities setting a new target of $80.00, indicating strong market confidence.

GC Wealth Management RIA LLC purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,646 shares of the transportation company's stock, valued at approximately $278,000.

Several other large investors have also made changes to their positions in DAL. Signature Resources Capital Management LLC acquired a new position in shares of Delta Air Lines during the second quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Delta Air Lines during the first quarter valued at $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Delta Air Lines during the first quarter valued at $33,000. Hara Capital LLC acquired a new position in shares of Delta Air Lines during the first quarter valued at $35,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Delta Air Lines during the first quarter valued at $40,000. Institutional investors and hedge funds own 69.93% of the company's stock.

Insider Buying and Selling at Delta Air Lines

In related news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on 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 sale, the chief executive officer owned 632,823 shares of the company's stock, valued at approximately $35,615,278.44. This trade represents a 5.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 45,423 shares of Delta Air Lines stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the completion of the sale, the executive vice president directly owned 131,731 shares in the company, valued at approximately $7,318,974.36. This represents a 25.64% decrease in their position. 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. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James Financial increased their target price on Delta Air Lines from $60.00 to $68.00 in a research note on Friday, July 11th. Seaport Global Securities increased their target price on Delta Air Lines from $69.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Dbs Bank increased 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. Bernstein Bank increased their target price on Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $67.69.

Delta Air Lines Stock Down 1.1%

Shares of Delta Air Lines stock opened at $56.11 on Thursday. 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 $58.13 and a two-hundred day moving average of $51.04. The company has a market capitalization of $36.64 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.50. 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 Announces Dividend

The firm also recently declared 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. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 16th. Delta Air Lines's dividend payout ratio is 10.87%.

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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