Insider Selling: Delta Air Lines, Inc. (NYSE:DAL) EVP Sells $1,176,206.78 in Stock

Delta Air Lines, Inc. (NYSE:DAL) EVP Alain Bellemare sold 24,073 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the completion of the sale, the executive vice president now directly owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Delta Air Lines Trading Up 0.0 %

Shares of Delta Air Lines stock opened at $49.90 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $50.24. The firm has a market capitalization of $32.20 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.71 and a beta of 1.43. The firm’s 50 day simple moving average is $45.03 and its two-hundred day simple moving average is $40.18.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same quarter in the prior year, the business posted $0.25 EPS. Delta Air Lines’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict that Delta Air Lines, Inc. will post 6.52 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.80%. Delta Air Lines’s payout ratio is currently 5.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DAL. Deutsche Bank Aktiengesellschaft upped their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Susquehanna upped their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research report on Tuesday, April 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Delta Air Lines in a research report on Thursday, April 11th. TheStreet raised shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research report on Thursday, January 4th. Finally, UBS Group began coverage on shares of Delta Air Lines in a research report on Wednesday, March 20th. They issued a “buy” rating and a $59.00 price target for the company. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Delta Air Lines has a consensus rating of “Buy” and an average price target of $58.29.

Institutional Trading of Delta Air Lines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hourglass Capital LLC increased its stake in shares of Delta Air Lines by 8.5% in the first quarter. Hourglass Capital LLC now owns 121,250 shares of the transportation company’s stock worth $5,804,000 after acquiring an additional 9,480 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Delta Air Lines by 3.3% in the first quarter. Pinnacle Associates Ltd. now owns 87,952 shares of the transportation company’s stock worth $4,210,000 after acquiring an additional 2,823 shares during the period. SlateStone Wealth LLC acquired a new stake in shares of Delta Air Lines in the first quarter worth $216,000. Lindbrook Capital LLC increased its stake in shares of Delta Air Lines by 7.2% in the first quarter. Lindbrook Capital LLC now owns 3,472 shares of the transportation company’s stock worth $166,000 after acquiring an additional 233 shares during the period. Finally, Inlet Private Wealth LLC increased its stake in shares of Delta Air Lines by 8.1% in the first quarter. Inlet Private Wealth LLC now owns 63,850 shares of the transportation company’s stock worth $3,056,000 after acquiring an additional 4,800 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

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.