Delta Air Lines, Inc. $DAL Stock Position Lessened by KMG Fiduciary Partners LLC

Key Points

• KMG Fiduciary Partners LLC has decreased its stake in Delta Air Lines by 8.3%, owning 83,309 shares valued at approximately $4.1 million after selling 7,562 shares in the second quarter.
• Delta Air Lines reported quarterly earnings of $2.10 per share, exceeding analysts' estimates but showing a revenue decrease of 0.1% compared to the previous year, with total revenue of $15.51 billion.
• Recent analyst ratings for Delta Air Lines show a consensus Buy rating, with target prices ranging from $60.00 to $90.00 after multiple upgrades from major financial institutions.

KMG Fiduciary Partners LLC cut its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,309 shares of the transportation company's stock after selling 7,562 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Delta Air Lines were worth $4,097,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Delta Air Lines by 0.7% in the first quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company's stock valued at $3,179,508,000 after purchasing an additional 514,264 shares during the last quarter. Invesco Ltd. raised its position in Delta Air Lines by 30.2% in the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company's stock worth $315,788,000 after buying an additional 1,681,464 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Delta Air Lines by 149.9% during the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company's stock valued at $246,487,000 after acquiring an additional 3,577,489 shares during the period. Bank of New York Mellon Corp boosted its stake in Delta Air Lines by 66.9% in the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock worth $257,918,000 after purchasing an additional 2,370,795 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Delta Air Lines by 5,224.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company's stock valued at $189,081,000 after acquiring an additional 4,255,262 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Susquehanna set a $65.00 target price on Delta Air Lines and gave the stock a "positive" rating in a research note on Friday, July 11th. Seaport Global Securities upped their target price on Delta Air Lines from $69.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Raymond James Financial increased their price target on Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. Finally, Jefferies Financial Group increased their price target on Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.56.

Delta Air Lines Price Performance

DAL traded up $0.36 during trading on Friday, hitting $59.83. 15,277,569 shares of the stock traded hands, compared to its average volume of 7,186,185. The business has a 50 day moving average price of $57.94 and a 200 day moving average price of $50.57. The company has a market cap of $39.07 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.82 and a beta of 1.51. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33.

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

Insider Buying and Selling at Delta Air Lines

In related news, EVP Peter W. Carter sold 17,550 shares of the company's stock in a transaction on 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 transaction, the executive vice president owned 191,442 shares in the company, valued at approximately $10,948,567.98. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the sale, the director owned 33,245 shares of the company's stock, valued at $2,017,971.50. The trade was a 6.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock valued at $7,663,496 in the last quarter. Insiders own 0.88% of the company's stock.

Delta Air Lines Company 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.