HB Wealth Management LLC Purchases 20,203 Shares of Delta Air Lines, Inc. $DAL

Key Points

• HB Wealth Management LLC increased its Delta Air Lines stake by 12.9% in the first quarter, buying 20,203 additional shares and bringing its total holdings to 177,145 shares worth about $11.8 million.
• Wall Street sentiment is turning more bullish on Delta, with several analysts raising price targets in recent reports; the stock now carries a “Moderate Buy” consensus and an average target price of $90.93.
• Delta reported solid operating results, beating quarterly EPS and revenue estimates, and it recently raised its dividend to $0.215 per share, up from $0.19.

HB Wealth Management LLC raised its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,145 shares of the transportation company's stock after buying an additional 20,203 shares during the quarter. HB Wealth Management LLC's holdings in Delta Air Lines were worth $11,777,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in shares of Delta Air Lines during the 3rd quarter worth approximately $1,041,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Delta Air Lines by 22.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the transportation company's stock valued at $7,438,000 after buying an additional 19,829 shares in the last quarter. iA Global Asset Management Inc. raised its position in shares of Delta Air Lines by 53.2% in the fourth quarter. iA Global Asset Management Inc. now owns 92,142 shares of the transportation company's stock valued at $6,395,000 after buying an additional 32,014 shares in the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of Delta Air Lines by 66.0% in the third quarter. Ceredex Value Advisors LLC now owns 911,136 shares of the transportation company's stock valued at $51,707,000 after buying an additional 362,329 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Delta Air Lines in the third quarter valued at approximately $12,978,000. Institutional investors own 69.93% of the company's stock.

Trending Headlines about Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Multiple earnings-preview pieces say Delta looks positioned to beat estimates, supported by strong bookings and lower fuel costs, which could improve near-term results. Delta Air Lines (DAL) Expected to Beat Earnings Estimates: Should You Buy?
• Positive Sentiment: BMO Capital Markets raised its price target on Delta to $105 from $80 and kept an outperform rating, reinforcing a more optimistic Wall Street view of the airline. Benzinga report on BMO price target increase
• Positive Sentiment: Goldman Sachs and TD Cowen also lifted targets across major U.S. airlines, with Delta included, which signals improving analyst confidence in the sector’s revenue outlook. Airlines Get a Wall Street Lift as Goldman, TD Cowen Raise Targets on Delta, United, Southwest, American
• Positive Sentiment: Delta’s international expansion, including its Korean Air partnership and new Los Angeles-to-Hong Kong service, underscores growth in the high-margin trans-Pacific market. Delta (DAL) Expands Pacific Reach With Korean Air Tie Up And Hong Kong Route

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DAL shares. Sanford C. Bernstein raised their price objective on Delta Air Lines from $88.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 17th. Argus upped their target price on Delta Air Lines from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Wells Fargo & Company increased their target price on Delta Air Lines from $75.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday. TD Cowen raised their price target on Delta Air Lines from $92.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Zacks Research raised Delta Air Lines from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.93.

Insider Buying and Selling

In related news, EVP Allison C. Ausband sold 5,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the executive vice president directly owned 133,854 shares in the company, valued at $10,574,466. This represents a 3.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alain Bellemare sold 25,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total value of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,635 shares of company stock worth $10,833,855 in the last ninety days. 0.80% of the stock is owned by insiders.

Delta Air Lines Stock Performance

Shares of NYSE:DAL opened at $92.75 on Friday. The company's 50 day simple moving average is $78.99 and its 200 day simple moving average is $71.91. The stock has a market capitalization of $60.94 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. Delta Air Lines, Inc. has a 1 year low of $49.19 and a 1 year high of $95.68.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that Delta Air Lines, Inc. will post 5.47 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be issued a dividend of $0.215 per share. This is an increase from Delta Air Lines's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.9%. Delta Air Lines's payout ratio is presently 10.93%.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.

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