HB Wealth Management LLC Has $6.34 Million Stake in Delta Air Lines, Inc. $DAL

Key Points

• HB Wealth Management LLC reduced its stake in Delta Air Lines by 12.3%, now holding 128,964 shares valued at approximately $6.34 million.
• Delta Air Lines reported $2.10 EPS for the last quarter, surpassing expectations, but revenue fell short with $15.51 billion compared to a consensus estimate of $16.16 billion.
• The company announced a quarterly dividend of $0.1875 per share to be paid on November 6th, resulting in a 1.3% yield.

HB Wealth Management LLC trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 12.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,964 shares of the transportation company's stock after selling 18,135 shares during the period. HB Wealth Management LLC's holdings in Delta Air Lines were worth $6,342,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. JT Stratford LLC boosted its stake in Delta Air Lines by 1.2% during the 1st quarter. JT Stratford LLC now owns 16,403 shares of the transportation company's stock valued at $715,000 after purchasing an additional 200 shares during the period. one8zero8 LLC increased its position in Delta Air Lines by 1.1% during the first quarter. one8zero8 LLC now owns 21,405 shares of the transportation company's stock worth $933,000 after acquiring an additional 225 shares during the period. Sound Income Strategies LLC boosted its holdings in Delta Air Lines by 14.7% in the 2nd quarter. Sound Income Strategies LLC now owns 1,911 shares of the transportation company's stock valued at $94,000 after purchasing an additional 245 shares during the period. Mainstay Capital Management LLC ADV grew its position in Delta Air Lines by 5.0% in the 1st quarter. Mainstay Capital Management LLC ADV now owns 5,199 shares of the transportation company's stock worth $227,000 after purchasing an additional 246 shares during the last quarter. Finally, E&G Advisors LP increased its holdings in shares of Delta Air Lines by 1.4% during the 1st quarter. E&G Advisors LP now owns 17,550 shares of the transportation company's stock worth $765,000 after purchasing an additional 250 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Stock Down 1.6%

DAL opened at $56.71 on Wednesday. The firm's 50-day simple moving average is $58.13 and its 200-day simple moving average is $51.01. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The firm has a market cap of $37.03 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.76 and a beta of 1.51.

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, beating the consensus estimate of $2.01 by $0.09. The firm had revenue of $15.51 billion during the quarter, compared to the consensus estimate of $16.16 billion. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $2.36 EPS. Equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. Delta Air Lines's payout ratio is currently 10.87%.

Analyst Ratings Changes

DAL has been the subject of several research reports. Dbs Bank increased their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Wednesday, September 10th. Raymond James Financial lifted their price objective on Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. HSBC upped their target price on Delta Air Lines from $64.00 to $69.20 in a research note on Friday, July 11th. Citigroup lifted their price target on shares of Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wolfe Research boosted their price target on shares of Delta Air Lines from $56.00 to $63.00 in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.99.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the sale, the executive vice president 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter W. Carter sold 17,550 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the completion of the sale, the executive vice president owned 191,442 shares of the company's stock, valued at $10,948,567.98. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,473 shares of company stock valued at $7,663,496. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines 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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