Delta Air Lines, Inc. (NYSE:DAL – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $89.32 and last traded at $88.6170, with a volume of 1019016 shares. The stock had previously closed at $86.72.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on DAL. Jefferies Financial Group increased their price target on shares of Delta Air Lines from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Seaport Research Partners increased their price objective on shares of Delta Air Lines from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. UBS Group raised their target price on shares of Delta Air Lines from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Research upgraded shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings lowered shares of Delta Air Lines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.68.
Read Our Latest Research Report on Delta Air Lines
Delta Air Lines Trading Up 3.6%
Delta Air Lines (NYSE:DAL – Get Free Report) last issued its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Delta Air Lines, Inc. will post 5.34 EPS for the current year.
Delta Air Lines Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a yield of 1.0%. Delta Air Lines’s dividend payout ratio is 12.54%.
Insider Activity
In related news, EVP John E. Laughter sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $71.61, for a total value of $1,074,150.00. Following the completion of the sale, the executive vice president owned 54,369 shares of the company’s stock, valued at approximately $3,893,364.09. The trade was a 21.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the transaction, the executive vice president owned 95,025 shares of the company’s stock, valued at $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 149,635 shares of company stock worth $10,833,855 over the last three months. 0.80% of the stock is currently owned by corporate insiders.
Institutional Trading of Delta Air Lines
A number of institutional investors and hedge funds have recently modified their holdings of DAL. Ballast Advisors LLC purchased a new position in Delta Air Lines in the 1st quarter valued at about $84,000. Sapient Capital LLC purchased a new stake in Delta Air Lines during the 1st quarter worth approximately $377,000. Pacer Advisors Inc. increased its stake in Delta Air Lines by 50.9% during the 1st quarter. Pacer Advisors Inc. now owns 4,033,595 shares of the transportation company’s stock worth $268,153,000 after buying an additional 1,360,195 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Delta Air Lines by 10.1% during the first quarter. Parallel Advisors LLC now owns 13,180 shares of the transportation company’s stock valued at $876,000 after acquiring an additional 1,206 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Delta Air Lines by 102.3% in the first quarter. NewEdge Advisors LLC now owns 105,966 shares of the transportation company’s stock valued at $7,045,000 after acquiring an additional 53,581 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.
About Delta Air Lines
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.
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