Janney Montgomery Scott LLC Buys 361,352 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Janney Montgomery Scott LLC significantly increased its Delta Air Lines stake, buying 361,352 additional shares in the first quarter and lifting its holdings to 484,237 shares valued at about $32.2 million.
• Delta reported strong quarterly results, with earnings of $0.64 per share beating estimates and revenue of $14.20 billion topping expectations. Revenue rose 9.4% year over year, and analysts now expect full-year EPS of 5.36.
• The company also raised its quarterly dividend to $0.215 per share from $0.19, signaling continued shareholder returns. Meanwhile, several analysts remain bullish, with recent price targets lifted by firms including UBS and Evercore.

Janney Montgomery Scott LLC boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 294.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 484,237 shares of the transportation company's stock after buying an additional 361,352 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Delta Air Lines worth $32,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new stake in shares of Delta Air Lines in the fourth quarter valued at $31,000. SWAN Capital LLC boosted its stake in shares of Delta Air Lines by 1,016.0% during the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company's stock worth $32,000 after purchasing an additional 508 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Delta Air Lines during the 4th quarter worth about $34,000. Cornerstone Planning Group LLC grew its holdings in Delta Air Lines by 451.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company's stock valued at $34,000 after purchasing an additional 429 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in Delta Air Lines during the 4th quarter valued at about $35,000. Institutional investors own 69.93% of the company's stock.

Delta Air Lines Trading Up 0.6%

DAL stock opened at $93.10 on Tuesday. Delta Air Lines, Inc. has a 12 month low of $48.24 and a 12 month high of $95.14. The firm's 50-day moving average is $77.18 and its 200 day moving average is $71.27. The company has a market capitalization of $61.16 billion, a PE ratio of 13.57, a P/E/G ratio of 1.50 and a beta of 1.30. 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 (NYSE:DAL - Get Free Report) last released its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. On average, research analysts anticipate that Delta Air Lines, Inc. will post 5.36 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 9th will be issued a $0.215 dividend. The ex-dividend date is Thursday, July 9th. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.9%. Delta Air Lines's dividend payout ratio (DPR) is presently 12.54%.

Key Delta Air Lines News

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

• Positive Sentiment: Citi raised its price target on Delta Air Lines and reaffirmed a Buy rating ahead of the expected airline earnings season, signaling confidence in upcoming results. Citi Lifts Delta Air Lines (DAL) Target Ahead of Expected Strong Airline Earnings Season
• Positive Sentiment: UBS reiterated a Buy rating and lifted its target to $107, implying additional upside from current levels and reinforcing the bullish analyst view on DAL. This is Why Delta Air Lines, Inc. (DAL) is a Top Stock to Buy Now for Good Returns
• Neutral Sentiment: Delta is approaching its July 9 ex-dividend date and is being highlighted in dividend-stock roundups, which may support investor interest but is not a major fundamental catalyst by itself. 5 Best July Dividend Stocks to Buy
• Neutral Sentiment: Recent commentary also notes Delta’s sizable one-year rally, which may lead some investors to question whether more upside remains after the stock’s strong appreciation. Delta Air Lines (DAL) Stock After 88% One-Year Rally Is There Still Upside Potential
• Negative Sentiment: A report describing a rough flight with injuries could add a small overhang to sentiment, though it appears more headline-driven than fundamentally material. “2 ½ Minutes of Terror”: Delta Air Lines Stock NYSE: DAL Slips After Rough Flight With Injuries

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DAL. Rothschild & Co Redburn reduced their price objective on shares of Delta Air Lines from $72.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Wells Fargo & Company cut their target price on Delta Air Lines from $87.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. Evercore upped their target price on Delta Air Lines from $85.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, June 25th. UBS Group increased their price target on Delta Air Lines from $98.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Finally, Seaport Research Partners raised their price target on Delta Air Lines from $81.00 to $83.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. One 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 stock. Based on data from MarketBeat, Delta Air Lines presently has an average rating of "Moderate Buy" and an average target price of $86.26.

Insider Activity at Delta Air Lines

In related news, EVP Allison C. Ausband sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total value of $395,000.00. Following the transaction, the executive vice president owned 133,854 shares of the company's stock, valued at $10,574,466. This represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John E. Laughter sold 15,000 shares of the firm's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $71.61, for a total value of $1,074,150.00. Following the transaction, the executive vice president owned 54,369 shares in the company, valued at $3,893,364.09. The trade was a 21.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 149,635 shares of company stock worth $10,833,855. Company insiders own 0.80% of the company's stock.

About Delta Air Lines

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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