Insider Selling: Delta Air Lines (NYSE:DAL) President Sells 39,900 Shares

Key Points

• Delta President Peter Carter sold 39,900 shares at an average price of $92.98, generating approximately $3.71 million. His remaining ownership fell 8.59% to 424,704 shares.
• Delta shares rose 0.4% to $93.13, near their 52-week high, while the company reported quarterly EPS of $1.56 and revenue of $17.67 billion—both above analyst expectations.
• Analysts remain broadly positive, with 23 Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $100.40. Delta also increased its quarterly dividend to $0.215 per share.

Delta Air Lines, Inc. (NYSE:DAL - Get Free Report) President Peter Carter sold 39,900 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $92.98, for a total transaction of $3,709,902.00. Following the transaction, the president owned 424,704 shares of the company's stock, valued at approximately $39,488,977.92. This represents a 8.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Delta Air Lines Stock Up 0.4%

Shares of NYSE DAL traded up $0.36 during mid-day trading on Wednesday, hitting $93.13. The company had a trading volume of 5,025,014 shares, compared to its average volume of 9,359,144. 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 50-day simple moving average of $85.87 and a two-hundred day simple moving average of $74.47. The company has a market capitalization of $61.24 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31. Delta Air Lines, Inc. has a one year low of $52.88 and a one year high of $95.68.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same quarter in the prior year, the company posted $2.10 earnings per share. Delta Air Lines's revenue was up 18.7% on a year-over-year basis. On average, equities analysts expect that Delta Air Lines, Inc. will post 6.54 EPS for the current year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th were paid a dividend of $0.215 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.19. Delta Air Lines's dividend payout ratio (DPR) is currently 14.26%.

Analyst Ratings Changes

Several research firms recently weighed in on DAL. Barclays raised their target price on shares of Delta Air Lines from $85.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. increased their price target on shares of Delta Air Lines from $85.00 to $114.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Morgan Stanley lifted their price objective on shares of Delta Air Lines from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Benchmark restated a "buy" rating on shares of Delta Air Lines in a research note on Wednesday, July 8th. Finally, HSBC dropped their target price on shares of Delta Air Lines from $80.20 to $79.30 and set a "buy" rating on the stock in a report on Thursday, April 9th. Twenty-three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.40.

Institutional Investors Weigh In On Delta Air Lines

A number of large investors have recently added to or reduced their stakes in DAL. Brighton Jones LLC increased its holdings in shares of Delta Air Lines by 33.5% in the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock valued at $555,000 after purchasing an additional 2,302 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Delta Air Lines during the 1st quarter worth about $178,000. Sivia Capital Partners LLC bought a new stake in shares of Delta Air Lines during the 2nd quarter worth about $555,000. Marshall Wace LLP grew its stake in Delta Air Lines by 102.2% in the 2nd quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company's stock valued at $385,000 after buying an additional 357,825 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Delta Air Lines by 10.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company's stock valued at $2,859,000 after buying an additional 5,564 shares during the last quarter. Institutional investors own 69.93% of the company's stock.

Delta Air Lines Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source