HB Wealth Management LLC Sells 18,135 Shares of Delta Air Lines, Inc. $DAL

HB Wealth Management LLC lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 12.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 128,964 shares of the transportation company’s stock after selling 18,135 shares during the quarter. HB Wealth Management LLC’s holdings in Delta Air Lines were worth $6,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC bought a new position in shares of Delta Air Lines in the 2nd quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in Delta Air Lines in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new position in Delta Air Lines in the first quarter valued at approximately $33,000. Hara Capital LLC acquired a new stake in Delta Air Lines during the 1st quarter worth $35,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Delta Air Lines during the 1st quarter valued at $40,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Delta Air Lines

In related news, EVP Peter W. Carter sold 17,550 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the completion of the transaction, the executive vice president owned 191,442 shares in the company, valued at approximately $10,948,567.98. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 45,423 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 131,731 shares of the company’s stock, valued at $7,318,974.36. The trade was a 25.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,473 shares of company stock worth $7,663,496. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DAL. Morgan Stanley raised their target price on Delta Air Lines from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. lifted their price objective on shares of Delta Air Lines from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. The Goldman Sachs Group boosted their price objective on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 11th. Evercore ISI increased their target price on shares of Delta Air Lines from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Barclays lifted their price target on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Delta Air Lines has an average rating of “Moderate Buy” and a consensus target price of $66.99.

Delta Air Lines Trading Down 1.6%

DAL opened at $56.71 on Wednesday. The stock has a market capitalization of $37.03 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.76 and a beta of 1.51. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The firm’s fifty day simple moving average is $58.13 and its 200 day simple moving average is $51.01.

Delta Air Lines (NYSE:DAL) last released 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. The firm had revenue of $15.51 billion for the quarter, compared to the consensus estimate of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $2.36 EPS. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

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