New Age Alpha Advisors LLC Reduces Position in Delta Air Lines, Inc. (NYSE:DAL)

New Age Alpha Advisors LLC decreased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 53.2% during the first quarter, HoldingsChannel reports. The firm owned 49,138 shares of the transportation company’s stock after selling 55,887 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Delta Air Lines were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in DAL. Continuum Advisory LLC raised its stake in Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock worth $35,000 after purchasing an additional 179 shares during the period. Utah Retirement Systems increased its holdings in shares of Delta Air Lines by 0.4% during the 4th quarter. Utah Retirement Systems now owns 52,725 shares of the transportation company’s stock worth $3,190,000 after buying an additional 200 shares during the last quarter. Coppell Advisory Solutions LLC raised its position in shares of Delta Air Lines by 13.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,791 shares of the transportation company’s stock valued at $109,000 after buying an additional 206 shares during the period. Insigneo Advisory Services LLC lifted its holdings in Delta Air Lines by 2.8% in the fourth quarter. Insigneo Advisory Services LLC now owns 7,671 shares of the transportation company’s stock valued at $464,000 after acquiring an additional 212 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in Delta Air Lines by 1.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 21,148 shares of the transportation company’s stock valued at $1,296,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In related news, EVP Alain Bellemare sold 45,423 shares of the 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 transaction, the executive vice president owned 131,731 shares of the company’s stock, valued at $7,318,974.36. This represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated 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 sale, the chief executive officer directly owned 632,823 shares of the company’s stock, valued at $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. In the last 90 days, insiders sold 133,973 shares of company stock valued at $7,511,746. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DAL shares. UBS Group set a $72.00 target price on Delta Air Lines in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Delta Air Lines from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Delta Air Lines from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. HSBC lifted their price target on shares of Delta Air Lines from $64.00 to $69.20 in a research report on Friday, July 11th. Finally, Barclays upped their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Three investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.21.

Delta Air Lines Trading Up 2.4%

DAL opened at $54.17 on Thursday. The business has a fifty day moving average price of $51.56 and a 200 day moving average price of $51.78. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The stock has a market capitalization of $35.37 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.65 and a beta of 1.56.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating 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 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 business posted $2.36 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

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

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.