AdvisorNet Financial Inc Sells 580 Shares of Delta Air Lines, Inc. $DAL

AdvisorNet Financial Inc cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 16.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,858 shares of the transportation company’s stock after selling 580 shares during the period. AdvisorNet Financial Inc’s holdings in Delta Air Lines were worth $141,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DAL. Janney Montgomery Scott LLC boosted its holdings in Delta Air Lines by 5.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company’s stock valued at $7,037,000 after purchasing an additional 9,034 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Delta Air Lines by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company’s stock valued at $160,900,000 after purchasing an additional 92,772 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Delta Air Lines by 152.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company’s stock valued at $548,000 after purchasing an additional 7,586 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Delta Air Lines by 8.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company’s stock valued at $1,670,000 after purchasing an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. boosted its holdings in Delta Air Lines by 1,169.4% in the 1st quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company’s stock valued at $316,000 after purchasing an additional 6,677 shares during the period. 69.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. HSBC lifted their price objective on shares of Delta Air Lines from $64.00 to $69.20 in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Delta Air Lines from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Susquehanna set a $65.00 price objective on shares of Delta Air Lines and gave the stock a “positive” rating in a report on Friday, July 11th. Morgan Stanley lifted their price objective on shares of Delta Air Lines from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Raymond James Financial lifted their price objective on shares of Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Delta Air Lines presently has an average rating of “Moderate Buy” and an average price target of $66.56.

Insider Transactions at Delta Air Lines

In other news, EVP Steven M. Sear sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total value of $1,007,280.00. Following the transaction, the executive vice president owned 97,505 shares in the company, valued at approximately $5,456,379.80. This represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alain Bellemare sold 45,423 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the completion of the transaction, the executive vice president owned 131,731 shares in the company, valued at approximately $7,318,974.36. This represents a 25.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,473 shares of company stock valued at $7,663,496. 0.88% of the stock is currently owned by insiders.

Delta Air Lines Price Performance

DAL stock opened at $56.71 on Friday. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $58.06 and its two-hundred day moving average price is $50.73. The stock has a market capitalization of $37.03 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.76 and a beta of 1.51.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results 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 net margin of 7.24% and a return on equity of 24.86%. The company had revenue of $15.51 billion for the quarter, compared to analysts’ expectations of $16.16 billion. During the same quarter in the previous year, the company earned $2.36 earnings per share. Delta Air Lines’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 16th. Delta Air Lines’s dividend payout ratio is currently 10.87%.

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.