Pacer Advisors Inc. Acquires 1,360,195 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Pacer Advisors increased its Delta Air Lines stake by 50.9% in the first quarter, acquiring 1.36 million shares and bringing its total holdings to 4.03 million shares valued at approximately $268.2 million.
• Delta reported quarterly earnings of $1.56 per share, exceeding analyst estimates, while revenue rose 18.7% year over year to $17.67 billion. The company also raised its quarterly dividend from $0.19 to $0.215 per share.
• Analyst sentiment remains favorable, with 23 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $100.40, versus a recent share price of $87.53.

Pacer Advisors Inc. increased its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,033,595 shares of the transportation company's stock after acquiring an additional 1,360,195 shares during the period. Pacer Advisors Inc. owned approximately 0.61% of Delta Air Lines worth $268,153,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DAL. Capital International Investors boosted its holdings in shares of Delta Air Lines by 4.4% in the 4th quarter. Capital International Investors now owns 24,211,101 shares of the transportation company's stock worth $1,680,249,000 after purchasing an additional 1,012,265 shares during the period. State Street Corp raised its holdings in Delta Air Lines by 0.7% during the 4th quarter. State Street Corp now owns 23,163,644 shares of the transportation company's stock valued at $1,607,557,000 after buying an additional 165,729 shares during the period. Geode Capital Management LLC lifted its position in Delta Air Lines by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company's stock worth $1,215,766,000 after buying an additional 202,865 shares during the last quarter. Wellington Management Group LLP lifted its position in Delta Air Lines by 137.4% in the fourth quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company's stock worth $958,538,000 after buying an additional 7,994,004 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Delta Air Lines by 0.5% during the fourth quarter. Morgan Stanley now owns 12,310,804 shares of the transportation company's stock worth $854,370,000 after buying an additional 56,455 shares during the period. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Stock Up 0.1%

Shares of DAL opened at $87.53 on Monday. The firm has a market capitalization of $57.56 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.10 and a beta of 1.31. Delta Air Lines, Inc. has a 12-month low of $50.44 and a 12-month high of $95.68. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $85.29 and a 200-day moving average price of $74.14.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The company had revenue of $17.67 billion for the quarter, compared to the consensus estimate of $17.43 billion. During the same quarter last year, the firm posted $2.10 EPS. The firm's revenue was up 18.7% compared to the same quarter last year. Equities research analysts expect that Delta Air Lines, Inc. will post 6.54 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, July 30th. Shareholders of record on Thursday, July 9th were paid a $0.215 dividend. The ex-dividend date was Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.19. Delta Air Lines's payout ratio is currently 14.26%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Seaport Research Partners boosted their price objective on shares of Delta Air Lines from $81.00 to $83.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. BNP Paribas Exane lowered their target price on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. Morgan Stanley lifted their price target on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. upped their price target on shares of Delta Air Lines from $85.00 to $114.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Finally, Citigroup increased their price objective on shares of Delta Air Lines from $106.00 to $110.00 and gave the stock a "buy" rating in a research report on Sunday, July 12th. Twenty-three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Delta Air Lines presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.40.

More Delta Air Lines News

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

• Positive Sentiment: Wall Street analysts remain optimistic about Delta’s prospects, with coverage emphasizing the stock’s market outperformance and favorable recommendations. This supports investor confidence, although the reports provide limited new fundamental information. Do Wall Street Analysts Like Delta Air Lines Stock? Do Wall Street Analysts Like Delta Air Lines Stock?
• Positive Sentiment: A Delta partnership with DraftKings will offer customers a free-to-play sports knowledge contest. The initiative could modestly strengthen customer engagement and ancillary revenue opportunities, but its direct financial effect is likely limited. Delta, DraftKings partner on free-to-play sports knowledge contest
• Neutral Sentiment: Delta has attracted elevated attention from Zacks users, while broker commentary continues to favor the stock. The increased visibility may support trading interest, but it does not represent a new earnings or operating catalyst. Delta Air Lines Is a Trending Stock Brokers Suggest Investing in Delta
• Neutral Sentiment: Boeing narrowly led Airbus in orders at the Farnborough Airshow. A healthier Boeing could eventually improve aircraft supply and fleet-planning flexibility for airlines such as Delta, but the development has no immediate, material impact on DAL. Airlines Are Still Willing to Bet on Boeing

Insider Buying and Selling

In other news, EVP Alain Bellemare sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the transaction, the executive vice president directly owned 95,025 shares of the company's stock, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $76.00, for a total value of $737,960.00. Following the completion of the transaction, the executive vice president directly owned 138,854 shares in the company, valued at approximately $10,552,904. This trade represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 65,331 shares of company stock worth $5,036,638. Corporate 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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