Invst LLC Sells 17,634 Shares of Delta Air Lines, Inc. $DAL

Invst LLC trimmed its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 40.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,949 shares of the transportation company’s stock after selling 17,634 shares during the quarter. Invst LLC’s holdings in Delta Air Lines were worth $1,131,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC grew its holdings in Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock worth $35,000 after acquiring an additional 179 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in Delta Air Lines during the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT bought a new stake in Delta Air Lines during the 1st quarter worth approximately $33,000. Hara Capital LLC bought a new stake in Delta Air Lines during the 1st quarter worth approximately $35,000. Finally, Bernard Wealth Management Corp. bought a new stake in Delta Air Lines during the 4th quarter worth approximately $51,000. 69.93% of the stock is owned by institutional investors.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 45,423 shares of the firm’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the transaction, the executive vice president directly owned 131,731 shares of the company’s stock, valued at approximately $7,318,974.36. This trade represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the transaction, the director directly owned 33,245 shares in the company, valued at $2,017,971.50. This trade represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 136,473 shares of company stock valued at $7,663,496. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Delta Air Lines in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price objective on shares of Delta Air Lines from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Jefferies Financial Group upped their price objective on shares of Delta Air Lines from $56.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, July 14th. Barclays upped their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, Citigroup increased their target price on shares of Delta Air Lines from $62.00 to $65.50 and gave the stock a “buy” rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $66.21.

Delta Air Lines Stock Down 1.5%

Shares of NYSE DAL opened at $60.49 on Friday. The firm has a market cap of $39.50 billion, a PE ratio of 8.77, a P/E/G ratio of 1.92 and a beta of 1.51. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The company’s fifty day simple moving average is $57.17 and its 200 day simple moving average is $50.62. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.09. The business had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. Delta Air Lines’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 earnings per share. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, July 31st. Delta Air Lines’s payout ratio is 10.87%.

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.