QRG Capital Management Inc. Purchases 11,919 Shares of Delta Air Lines, Inc. $DAL

Key Points

• QRG Capital Management Inc. increased its stake in Delta Air Lines by 4.9%, buying 11,919 shares, which brings their total holdings to 256,856 shares valued at approximately $12.6 million.
• Insider sales occurred as EVPs Alain Bellemare and Peter W. Carter sold 45,423 and 17,550 shares respectively, marking decreases of 25.64% and 8.40% in their positions.
• Delta Air Lines plans to pay a quarterly dividend of $0.1875 on November 6th, 2023, representing an annualized yield of 1.3%.

QRG Capital Management Inc. lifted its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,856 shares of the transportation company's stock after purchasing an additional 11,919 shares during the quarter. QRG Capital Management Inc.'s holdings in Delta Air Lines were worth $12,632,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DAL. Brighton Jones LLC increased its stake in Delta Air Lines by 33.5% during the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock worth $555,000 after acquiring an additional 2,302 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Delta Air Lines by 108.3% during the first quarter. Merit Financial Group LLC now owns 32,874 shares of the transportation company's stock valued at $1,433,000 after buying an additional 17,090 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Delta Air Lines by 14.6% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,406 shares of the transportation company's stock valued at $236,000 after purchasing an additional 687 shares during the period. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Delta Air Lines in the first quarter valued at approximately $3,806,000. Finally, Wedmont Private Capital boosted its holdings in shares of Delta Air Lines by 3.4% in the first quarter. Wedmont Private Capital now owns 14,102 shares of the transportation company's stock valued at $577,000 after purchasing an additional 467 shares during the period. 69.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Delta Air Lines news, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the completion of the sale, the executive vice president owned 131,731 shares in the company, valued at approximately $7,318,974.36. This represents a 25.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter W. Carter sold 17,550 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the sale, the executive vice president owned 191,442 shares of the company's stock, valued at $10,948,567.98. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,473 shares of company stock worth $7,663,496 in the last 90 days. Corporate insiders own 0.88% of the company's stock.

Delta Air Lines Trading Up 0.4%

Shares of Delta Air Lines stock opened at $57.32 on Friday. The firm has a market capitalization of $37.42 billion, a PE ratio of 8.31, a P/E/G ratio of 1.53 and a beta of 1.50. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The firm's 50-day moving average price is $58.23 and its 200 day moving average price is $51.21. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.09. The firm had revenue of $15.51 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $2.36 EPS. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. Delta Air Lines's dividend payout ratio is presently 10.87%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup boosted their price target on Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a report on Friday, July 11th. Wolfe Research upped their price target on Delta Air Lines from $56.00 to $63.00 in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft upped their target price on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Evercore ISI upped their target price on Delta Air Lines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. Finally, Jefferies Financial Group set a $70.00 price target on shares of Delta Air Lines and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $67.84.

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.

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