NewEdge Advisors LLC Has $12.39 Million Position in Delta Air Lines, Inc. $DAL

Key Points

• NewEdge Advisors increased its Delta Air Lines stake by 24.8% in the second quarter, holding 132,293 shares valued at approximately $12.39 million. Institutional investors collectively own 69.93% of Delta’s stock.
• Delta insiders sold 356,726 shares worth about $33.1 million over the past three months, including sizable sales by President Peter Carter and EVP Steven Sear.
• Analysts maintain a largely positive outlook, with 23 Buy ratings and two Holds producing a “Moderate Buy” consensus and a $98.84 price target. Delta also beat quarterly earnings and revenue estimates and raised its quarterly dividend to $0.215 per share.

NewEdge Advisors LLC raised its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 24.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,293 shares of the transportation company's stock after buying an additional 26,327 shares during the quarter. NewEdge Advisors LLC's holdings in Delta Air Lines were worth $12,391,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DAL. Markowski Investments acquired a new position in shares of Delta Air Lines in the 2nd quarter worth approximately $27,000. Timbuktu Capital Management LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC grew its position in Delta Air Lines by 195.9% in the second quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company's stock valued at $34,000 after acquiring an additional 237 shares during the period. Lloyd Advisory Services LLC. bought a new stake in Delta Air Lines in the fourth quarter valued at $31,000. Finally, Atlas Wealth LLC acquired a new position in Delta Air Lines during the first quarter worth $35,000. Institutional investors and hedge funds own 69.93% of the company's stock.

Insider Activity

In other Delta Air Lines news, President Peter Carter sold 39,900 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $92.98, for a total transaction of $3,709,902.00. Following the completion of the sale, the president directly owned 424,704 shares of the company's stock, valued at approximately $39,488,977.92. The trade was a 8.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Steven Sear sold 40,460 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the transaction, the executive vice president owned 104,404 shares in the company, valued at approximately $9,766,994.20. The trade was a 27.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 356,726 shares of company stock worth $33,081,037. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

DAL has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Delta Air Lines from $106.00 to $110.00 and gave the company a "buy" rating in a research note on Sunday, July 12th. The Goldman Sachs Group reiterated a "buy" rating on shares of Delta Air Lines in a research report on Monday, August 3rd. UBS Group cut their price target on shares of Delta Air Lines from $112.00 to $99.00 and set a "buy" rating for the company in a report on Thursday. Barclays reduced their price target on shares of Delta Air Lines from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Delta Air Lines from $85.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Twenty-three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and a consensus price target of $98.84.

Delta Air Lines Price Performance

DAL opened at $79.82 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35. The stock has a market capitalization of $52.49 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.08 and a beta of 1.29. The company's 50 day simple moving average is $85.20 and its 200-day simple moving average is $77.20. Delta Air Lines, Inc. has a one year low of $55.03 and a one year high of $95.68.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $17.67 billion for the quarter, compared to the consensus estimate of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 EPS. Sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.23 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were given a $0.215 dividend. The ex-dividend date was 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 yield of 1.1%. Delta Air Lines's dividend payout ratio is 14.26%.

About Delta Air Lines

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.

Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.

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