Delta Air Lines, Inc. (NYSE:DAL) Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 4.3% during the first quarter, Holdings Channel.com reports. The firm owned 116,330 shares of the transportation company’s stock after acquiring an additional 4,764 shares during the period. PNC Financial Services Group Inc.’s holdings in Delta Air Lines were worth $5,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 grew its position in Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 179 shares in the last quarter. Hara Capital LLC acquired a new position in shares of Delta Air Lines in the first quarter worth $35,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter worth about $40,000. Finally, Private Wealth Management Group LLC raised its position in Delta Air Lines by 104.8% during the first quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 507 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $54.17 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The company has a market cap of $35.37 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.65 and a beta of 1.56. The firm has a fifty day moving average price of $51.56 and a two-hundred day moving average price of $51.78. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98.

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

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be paid a $0.1875 dividend. The ex-dividend date is Thursday, July 31st. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.15. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.4%. Delta Air Lines’s dividend payout ratio is currently 10.87%.

Wall Street Analyst Weigh In

DAL has been the subject of several recent research reports. Susquehanna set a $65.00 target price on shares of Delta Air Lines and gave the stock a “positive” rating in a research report on Friday, July 11th. Susquehanna Bancshares increased their target price on shares of Delta Air Lines from $51.00 to $65.00 and gave the stock a “positive” rating in a research report on Friday, July 11th. The Goldman Sachs Group upped their price target on Delta Air Lines from $60.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. BNP Paribas Exane boosted their target price on Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, HSBC increased their price target on Delta Air Lines from $64.00 to $69.20 in a report on Friday, July 11th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.21.

Insider Transactions at Delta Air Lines

In other news, CEO Edward H. Bastian sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven M. Sear sold 18,000 shares of Delta Air Lines stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the sale, the executive vice president owned 97,505 shares in the company, valued at approximately $5,456,379.80. This trade represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,973 shares of company stock valued at $7,511,746. Company insiders own 0.88% of the company’s stock.

Delta Air Lines 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.