Truist Financial Corp Trims Stock Holdings in Delta Air Lines, Inc. $DAL

Key Points

• Truist Financial Corp reduced its stake in Delta Air Lines by 8.1%, owning 150,150 shares worth approximately $7.38 million after selling 13,248 shares in Q2.
• Delta Air Lines reported $2.10 earnings per share for the latest quarter, exceeding estimates, with a revenue of $15.51 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.1875 per share, with an annualized yield of 1.3%, to be paid on November 6.

Truist Financial Corp lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 8.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,150 shares of the transportation company's stock after selling 13,248 shares during the period. Truist Financial Corp's holdings in Delta Air Lines were worth $7,384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Signature Resources Capital Management LLC purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new position in Delta Air Lines during the 1st quarter valued at $33,000. Hara Capital LLC bought a new position in Delta Air Lines during the 1st quarter valued at $35,000. Finally, N.E.W. Advisory Services LLC bought a new position in Delta Air Lines during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Peter W. Carter sold 17,550 shares of Delta Air Lines stock in a transaction 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. The trade was a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven M. Sear sold 18,000 shares of Delta Air Lines stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total value of $1,007,280.00. Following the sale, the executive vice president directly owned 97,505 shares in the company, valued at $5,456,379.80. The trade was a 15.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,473 shares of company stock valued at $7,663,496. Company insiders own 0.96% of the company's stock.

Delta Air Lines Stock Performance

DAL stock opened at $58.30 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. The stock has a market capitalization of $38.07 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 1.53 and a beta of 1.50. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The stock's fifty day moving average is $58.28 and its two-hundred day moving average is $51.32.

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

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th 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 1.3%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines's payout ratio is 10.87%.

Analysts Set New Price Targets

A number of research analysts have commented on DAL shares. 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. Bernstein Bank increased their price target on shares of Delta Air Lines from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Dbs Bank raised Delta Air Lines from a "hold" rating to a "buy" rating in a report on Friday. Citigroup increased their target price on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group set a $70.00 target price on Delta Air Lines and gave the stock a "buy" rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating and nineteen have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $67.84.

Delta Air Lines Company 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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