Munich Reinsurance Co Stock Corp in Munich Purchases 101,717 Shares of Delta Air Lines, Inc. $DAL

Munich Reinsurance Co Stock Corp in Munich boosted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 129.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 180,218 shares of the transportation company’s stock after purchasing an additional 101,717 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Delta Air Lines were worth $16,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its position in Delta Air Lines by 4.4% in the 4th quarter. Capital International Investors now owns 24,211,101 shares of the transportation company’s stock worth $1,680,249,000 after purchasing an additional 1,012,265 shares during the last quarter. State Street Corp lifted its stake in shares of Delta Air Lines by 0.7% in the fourth quarter. State Street Corp now owns 23,163,644 shares of the transportation company’s stock valued at $1,607,557,000 after buying an additional 165,729 shares during the period. Geode Capital Management LLC lifted its stake in shares of Delta Air Lines by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company’s stock valued at $1,215,766,000 after buying an additional 202,865 shares during the period. Wellington Management Group LLP grew its position in Delta Air Lines by 137.4% during the fourth quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company’s stock worth $958,538,000 after buying an additional 7,994,004 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Delta Air Lines during the second quarter valued at about $1,182,646,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 35,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $92.72, for a total value of $3,245,200.00. Following the completion of the sale, the executive vice president owned 95,025 shares in the company, valued at $8,810,718. This represents a 26.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward H. Bastian sold 206,510 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $92.80, for a total value of $19,164,128.00. Following the sale, the chief executive officer directly owned 1,363,448 shares in the company, valued at approximately $126,527,974.40. This represents a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 356,726 shares of company stock valued at $33,081,037. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DAL. Sanford C. Bernstein restated an “outperform” rating and set a $106.00 price objective on shares of Delta Air Lines in a research report on Monday, July 13th. BMO Capital Markets raised their target price on Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Delta Air Lines from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Morgan Stanley increased their price objective on shares of Delta Air Lines from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Delta Air Lines from $85.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Twenty-three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines presently has an average rating of “Moderate Buy” and an average target price of $99.84.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $80.13 on Friday. The stock has a 50-day simple moving average of $86.59 and a 200 day simple moving average of $76.86. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. Delta Air Lines, Inc. has a 12-month low of $55.03 and a 12-month high of $95.68. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.09 and a beta of 1.29.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. The business had revenue of $17.67 billion for the quarter, compared to analysts’ expectations of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. Delta Air Lines’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 earnings per share. On average, research analysts anticipate that Delta Air Lines, Inc. will post 6.23 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were issued a $0.215 dividend. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, July 9th. Delta Air Lines’s dividend payout ratio is currently 14.26%.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.