Gordian Capital Singapore Pte Ltd Sells 13,900 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Gordian Capital Singapore Pte Ltd reduced its stake in Delta Air Lines by 48.1%, now holding 15,000 shares valued at approximately $658,000 after selling 13,900 shares in the first quarter.
• Delta Air Lines reported $2.10 EPS for the last quarter, exceeding the consensus estimate of $2.01, despite revenue being slightly lower than expected at $15.51 billion.
• The company declared a quarterly dividend increase to $0.1875, reflecting a positive change from the previous amount, and indicates strong financial management with a 10.87% dividend payout ratio.

Gordian Capital Singapore Pte Ltd decreased its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 48.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,000 shares of the transportation company's stock after selling 13,900 shares during the quarter. Gordian Capital Singapore Pte Ltd's holdings in Delta Air Lines were worth $658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new position in shares of Delta Air Lines in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT purchased a new position in shares of Delta Air Lines in the 1st quarter worth approximately $33,000. Continuum Advisory LLC boosted its holdings in shares of Delta Air Lines by 44.2% in the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after purchasing an additional 179 shares during the period. Hara Capital LLC purchased a new position in shares of Delta Air Lines in the 1st quarter worth approximately $35,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Delta Air Lines during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Trading Up 1.2%

DAL opened at $62.00 on Friday. The firm has a market cap of $40.48 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 1.91 and a beta of 1.56. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The stock has a fifty day moving average price of $54.75 and a 200-day moving average price of $50.82.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.01 by $0.09. The firm had revenue of $15.51 billion during the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.36 EPS. As a group, equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st were given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was 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 presently 10.87%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DAL. Wolfe Research boosted their price objective on Delta Air Lines from $56.00 to $63.00 in a report on Monday, July 14th. Barclays boosted their price objective on Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 11th. HSBC boosted their price objective on Delta Air Lines from $64.00 to $69.20 in a report on Friday, July 11th. UBS Group set a $72.00 price objective on Delta Air Lines in a report on Friday, July 11th. Finally, Citigroup upped their target price on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $66.21.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 45,423 shares of the company's 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 transaction, the executive vice president directly owned 131,731 shares of the company's stock, valued at $7,318,974.36. This represents a 25.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 35,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the transaction, the chief executive officer directly owned 632,823 shares in the company, valued at $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,473 shares of company stock worth $7,663,496. Company insiders own 0.88% of the company's stock.

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.

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.