JTC Employer Solutions Trustee Ltd Lowers Stock Holdings in Delta Air Lines, Inc. $DAL

Key Points

• JTC Employer Solutions Trustee Ltd has significantly reduced its stake in Delta Air Lines, Inc. by 70%, now holding only 15,000 shares after selling 35,000 shares in the second quarter.
• Analysts remain optimistic about Delta Air Lines, with multiple price target increases leading to an average rating of "Buy" and a consensus price target of $71.53.
• Delta Air Lines plans to pay a quarterly dividend of $0.1875 per share on November 6th, reflecting a 1.3% annualized yield.

JTC Employer Solutions Trustee Ltd reduced its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 70.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the transportation company's stock after selling 35,000 shares during the period. JTC Employer Solutions Trustee Ltd's holdings in Delta Air Lines were worth $737,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at $25,000. Activest Wealth Management raised its stake in shares of Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company's stock valued at $30,000 after acquiring an additional 593 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Delta Air Lines in the first quarter valued at $31,000. Zions Bancorporation National Association UT acquired a new stake in shares of Delta Air Lines in the first quarter valued at $33,000. Finally, Hara Capital LLC acquired a new stake in shares of Delta Air Lines in the first quarter valued at $35,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on DAL shares. Evercore ISI increased their price objective on Delta Air Lines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Wolfe Research increased their price objective on Delta Air Lines from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Citigroup raised their price target on Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a research note on Friday, July 11th. Barclays raised their price target on Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Sanford C. Bernstein raised their price target on Delta Air Lines from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. Based on data from MarketBeat, Delta Air Lines presently has an average rating of "Buy" and a consensus price target of $71.53.

Insiders Place Their Bets

In other Delta Air Lines news, CEO Edward H. Bastian sold 35,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total value of $151,750.00. Following the transaction, the director directly owned 33,245 shares in the company, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,510 shares of company stock valued at $2,979,663. 0.88% of the stock is currently owned by insiders.

Delta Air Lines Stock Down 1.2%

Delta Air Lines stock opened at $59.70 on Friday. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The stock has a market cap of $38.98 billion, a PE ratio of 8.41, a P/E/G ratio of 1.38 and a beta of 1.50. The stock's fifty day moving average is $59.35 and its two-hundred day moving average is $52.07.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $8.40 billion for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. On average, sell-side analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. Delta Air Lines's dividend payout ratio (DPR) is presently 10.56%.

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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