Outlook Wealth Advisors LLC bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,068 shares of the transportation company’s stock, valued at approximately $470,000.
A number of other large investors have also bought and sold shares of the stock. Accredited Wealth Management LLC raised its holdings in shares of Delta Air Lines by 1,983.3% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 476 shares during the period. Lloyd Advisory Services LLC. acquired a new stake in shares of Delta Air Lines in the 4th quarter valued at about $31,000. SWAN Capital LLC increased its position in Delta Air Lines by 1,016.0% in the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock valued at $32,000 after buying an additional 508 shares in the last quarter. Camelot Portfolios LLC bought a new stake in Delta Air Lines in the 4th quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC raised its stake in Delta Air Lines by 451.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after buying an additional 429 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, EVP Allison C. Ausband sold 9,710 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the transaction, the executive vice president directly owned 138,854 shares of the company’s stock, valued at $10,552,904. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alain Bellemare sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the transaction, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 149,635 shares of company stock valued at $10,833,855 in the last three months. 0.80% of the stock is currently owned by insiders.
Key Stories Impacting Delta Air Lines
- Positive Sentiment: Bank of America raised its price target on Delta Air Lines to $93 from $78 and reiterated a buy rating, signaling confidence in upside from current levels. Article: Bank of America raises Delta price target
- Positive Sentiment: Argus also boosted its price target on DAL to $100 from $85 and maintained a buy rating, reinforcing the bullish analyst outlook. Article: Argus raises Delta price target
- Positive Sentiment: Delta shareholders backed the existing board and governance structure at the annual meeting, reducing uncertainty around corporate oversight. Article: Delta shareholders back board, governance status quo
- Positive Sentiment: Delta approved a 15% increase in its quarterly dividend, a sign management is confident in cash generation and financial strength. Article: Delta lifts dividend 15% while upgrading 737s
- Positive Sentiment: Berkshire Hathaway disclosed a new large position in Delta Air Lines, adding an influential long-term investor to the shareholder base. Article: Berkshire buys Delta stake
Delta Air Lines Stock Performance
Shares of DAL opened at $86.12 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The stock has a 50 day moving average price of $75.05 and a two-hundred day moving average price of $70.44. The firm has a market capitalization of $56.58 billion, a P/E ratio of 12.55, a P/E/G ratio of 1.16 and a beta of 1.30. Delta Air Lines, Inc. has a 52 week low of $45.28 and a 52 week high of $87.39.
Delta Air Lines (NYSE:DAL – Get Free Report) last posted its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Equities analysts forecast that Delta Air Lines, Inc. will post 5.52 earnings per share for the current fiscal year.
Delta Air Lines Increases Dividend
The company 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 dividend of $0.215 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s payout ratio is presently 10.93%.
Wall Street Analyst Weigh In
DAL has been the topic of several recent research reports. Argus increased their price target on Delta Air Lines from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Raymond James Financial boosted their price objective on Delta Air Lines from $76.00 to $80.00 and gave the company a “strong-buy” rating in a report on Thursday, April 9th. Citigroup reaffirmed a “buy” rating on shares of Delta Air Lines in a research report on Monday. Morgan Stanley lifted their price target on shares of Delta Air Lines from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Weiss Ratings lowered shares of Delta Air Lines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.30.
Read Our Latest Research Report on Delta Air Lines
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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