Delta Air Lines, Inc. (NYSE:DAL) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lifted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 6.0% during the first quarter, Holdings Channel.com reports. The firm owned 7,648 shares of the transportation company’s stock after acquiring an additional 435 shares during the period. Foundations Investment Advisors LLC’s holdings in Delta Air Lines were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of DAL. Kayne Anderson Rudnick Investment Management LLC raised its position 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 worth $32,000 after acquiring an additional 431 shares in the last quarter. Continuum Advisory LLC raised its position in 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 in the last quarter. Hara Capital LLC bought a new stake in Delta Air Lines in the first quarter worth about $35,000. Private Wealth Management Group LLC raised its position in Delta Air Lines by 104.8% in the first quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company’s stock worth $43,000 after acquiring an additional 507 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in Delta Air Lines in the first quarter worth about $47,000. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Stock Down 3.9%

DAL opened at $51.15 on Friday. The business has a 50 day moving average price of $51.29 and a 200 day moving average price of $52.04. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. 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 firm has a market cap of $33.40 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 1.66 and a beta of 1.56.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The firm had revenue of $15,507,000 billion during the quarter, compared to analyst estimates of $16.16 billion. During the same period in the previous year, the company earned $2.36 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be given a $0.1875 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.15. This represents a $0.75 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines’s dividend payout ratio (DPR) is currently 10.87%.

Insiders Place Their Bets

In related news, EVP Alain Bellemare sold 45,423 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total value of $2,523,701.88. Following the completion of the transaction, the executive vice president directly owned 131,731 shares of the company’s stock, valued at $7,318,974.36. This trade represents a 25.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the transaction, the chief executive officer directly owned 632,823 shares of the company’s stock, valued at approximately $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,973 shares of company stock valued at $7,511,746 over the last ninety days. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DAL has been the topic of several research reports. Barclays boosted their price target on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Wall Street Zen downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Morgan Stanley boosted their price objective on Delta Air Lines from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Bernstein Bank boosted their price objective on Delta Air Lines from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on Delta Air Lines from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.21.

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.