OMNI 360 Wealth Inc. Makes New $354,000 Investment in Delta Air Lines, Inc. $DAL

Key Points

• OMNI 360 Wealth Inc. has made a new investment of $354,000 in Delta Air Lines, acquiring 7,206 shares during the second quarter.
• Delta Air Lines announced a quarterly dividend of $0.1875 per share, increasing from the previous $0.15, which reflects a 1.3% dividend yield.
• Several analysts have recently raised their target prices for Delta Air Lines, with estimates ranging from $58.00 to $72.00, indicating a strong Buy consensus among investment analysts.

OMNI 360 Wealth Inc. acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,206 shares of the transportation company's stock, valued at approximately $354,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in Delta Air Lines by 5.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock worth $7,037,000 after purchasing an additional 9,034 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Delta Air Lines by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company's stock worth $160,900,000 after acquiring an additional 92,772 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Delta Air Lines by 152.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock worth $548,000 after acquiring an additional 7,586 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Delta Air Lines by 8.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock worth $1,670,000 after acquiring an additional 2,973 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its position in shares of Delta Air Lines by 1,169.4% in the 1st quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company's stock worth $316,000 after acquiring an additional 6,677 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DAL has been the subject of several research reports. BNP Paribas Exane lifted their target price on Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. UBS Group set a $72.00 price objective on Delta Air Lines in a research report on Friday, July 11th. Susquehanna Bancshares boosted their price objective on Delta Air Lines from $51.00 to $65.00 and gave the company a "positive" rating in a research report on Friday, July 11th. Sanford C. Bernstein restated an "outperform" rating on shares of Delta Air Lines in a research report on Friday, July 11th. Finally, TD Cowen lifted their target price on Delta Air Lines from $55.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Delta Air Lines currently has a consensus rating of "Buy" and a consensus price target of $66.93.

Insider Activity at Delta Air Lines

In related news, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the transaction, the executive vice president directly owned 97,505 shares of the company's stock, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,003,684.50. Following the transaction, the executive vice president directly owned 191,442 shares in the company, valued at $10,948,567.98. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock valued at $7,663,496 over the last ninety days. Company insiders own 0.88% of the company's stock.

Delta Air Lines Stock Down 0.8%

Shares of Delta Air Lines stock opened at $59.94 on Friday. The stock's fifty day moving average is $57.35 and its 200-day moving average is $50.54. The firm has a market capitalization of $39.14 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 1.88 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98.

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

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, July 31st. Delta Air Lines's payout ratio is presently 10.87%.

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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