PNC Financial Services Group Inc. Has $5.07 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

PNC Financial Services Group Inc. raised its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,330 shares of the transportation company's stock after purchasing an additional 4,764 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Delta Air Lines were worth $5,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Delta Air Lines by 414.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock valued at $32,000 after buying an additional 431 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Delta Air Lines by 44.2% in the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after acquiring an additional 179 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of Delta Air Lines in the 1st quarter valued at approximately $35,000. N.E.W. Advisory Services LLC bought a new stake in shares of Delta Air Lines during the 1st quarter valued at approximately $40,000. Finally, Private Wealth Management Group LLC grew its holdings in shares of Delta Air Lines by 104.8% during the 1st quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock valued at $43,000 after purchasing an additional 507 shares during the last quarter. Institutional investors own 69.93% of the company's stock.

Wall Street Analyst Weigh In

DAL has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Raymond James Financial upped their price target on shares of Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. Susquehanna Bancshares raised their price objective on Delta Air Lines from $51.00 to $65.00 and gave the company a "positive" rating in a report on Friday, July 11th. Barclays upped their target price on Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group increased their target price 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. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.21.

Insiders Place Their Bets

In other news, EVP Alain Bellemare sold 45,423 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the completion of the sale, the executive vice president owned 131,731 shares of the company's stock, valued at $7,318,974.36. This trade represents a 25.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven M. Sear sold 18,000 shares of the 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 in the company, valued at approximately $5,456,379.80. This represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,973 shares of company stock valued at $7,511,746 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Delta Air Lines Trading Down 0.9%

Shares of NYSE DAL traded down $0.51 during midday trading on Thursday, reaching $53.61. The stock had a trading volume of 4,973,894 shares, compared to its average volume of 10,952,094. The company's 50 day moving average price is $51.65 and its 200 day moving average price is $51.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The firm has a market cap of $35.00 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.56.

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 for the quarter, topping analysts' consensus estimates of $2.01 by $0.09. The business had revenue of $15,507,000 billion during the quarter, compared to the consensus estimate of $16.16 billion. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. Delta Air Lines's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.36 earnings per share. As a group, sell-side analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, July 31st. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio (DPR) is currently 10.87%.

About Delta Air Lines

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.