Delta Air Lines (NYSE:DAL) Given New $95.00 Price Target at Seaport Research Partners

Delta Air Lines (NYSE:DAL) had its price objective trimmed by Seaport Research Partners from $108.00 to $95.00 in a research note released on Friday. The firm currently has a buy rating on the transportation company’s stock.

Other research analysts have also recently issued research reports about the stock. Bank of America boosted their price objective on shares of Delta Air Lines from $93.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Citigroup increased their price objective on Delta Air Lines from $106.00 to $110.00 and gave the company a “buy” rating in a research report on Sunday, July 12th. Evercore lifted their target price on Delta Air Lines from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Rothschild & Co Redburn boosted their target price on Delta Air Lines from $104.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $106.00 price target on shares of Delta Air Lines in a research note on Monday, July 13th. Twenty-three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.62.

Delta Air Lines Trading Up 2.6%

DAL opened at $84.95 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $55.87 billion, a PE ratio of 14.09, a PEG ratio of 1.14 and a beta of 1.29. Delta Air Lines has a 1-year low of $55.03 and a 1-year high of $95.68. The firm has a 50-day moving average price of $83.98 and a two-hundred day moving average price of $78.29.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The company had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same period in the prior year, the business earned $2.10 earnings per share. Delta Air Lines’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, equities analysts anticipate that Delta Air Lines will post 6.23 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Thursday, October 15th will be issued a $0.2150 dividend. This represents a $0.86 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, October 15th. Delta Air Lines’s dividend payout ratio is currently 14.26%.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, CEO Edward Bastian sold 206,510 shares of Delta Air Lines stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total transaction of $19,164,128.00. Following the completion of the sale, the chief executive officer owned 1,363,448 shares of the company’s stock, valued at approximately $126,527,974.40. The trade was a 13.15% 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 Alain Bellemare sold 35,000 shares of Delta Air Lines stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the sale, the executive vice president directly owned 95,025 shares of the company’s stock, valued at $8,810,718. This represents a 26.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 356,726 shares of company stock valued at $33,081,037. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delta Air Lines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAL. Parkside Financial Bank & Trust boosted its holdings in Delta Air Lines by 3.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,535 shares of the transportation company’s stock worth $331,000 after buying an additional 129 shares during the last quarter. Arlington Trust Co LLC increased its stake in shares of Delta Air Lines by 11.7% in the 2nd quarter. Arlington Trust Co LLC now owns 1,238 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 130 shares during the last quarter. Guardian Wealth Advisors LLC NC raised its position in shares of Delta Air Lines by 3.5% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 3,900 shares of the transportation company’s stock valued at $365,000 after acquiring an additional 131 shares during the period. Basecamp Wealth Advisors LLC raised its position in shares of Delta Air Lines by 10.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,582 shares of the transportation company’s stock valued at $105,000 after acquiring an additional 156 shares during the period. Finally, Greenleaf Trust raised its position in shares of Delta Air Lines by 1.3% in the 2nd quarter. Greenleaf Trust now owns 12,008 shares of the transportation company’s stock valued at $1,125,000 after acquiring an additional 159 shares during the period. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.

Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.