Kestra Advisory Services LLC grew its stake in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 12.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,754 shares of the transportation company’s stock after buying an additional 9,138 shares during the quarter. Kestra Advisory Services LLC’s holdings in Delta Air Lines were worth $5,435,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Granite Investment Partners LLC boosted its holdings in shares of Delta Air Lines by 399.3% during the 1st quarter. Granite Investment Partners LLC now owns 98,188 shares of the transportation company’s stock valued at $6,528,000 after acquiring an additional 78,522 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in Delta Air Lines by 1.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 57,011 shares of the transportation company’s stock worth $3,735,000 after purchasing an additional 672 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Delta Air Lines in the first quarter valued at about $186,000. W Advisors LLC acquired a new stake in shares of Delta Air Lines during the first quarter valued at about $201,000. Finally, Cvfg LLC acquired a new stake in shares of Delta Air Lines during the first quarter valued at about $1,330,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Delta Air Lines news, EVP Allison C. Ausband sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the executive vice president owned 133,854 shares of the company’s stock, valued at approximately $10,574,466. This represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total value of $2,036,000.00. Following the sale, the executive vice president owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. The trade was a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,331 shares of company stock worth $5,036,638 in the last ninety days. Insiders own 0.80% of the company’s stock.
Delta Air Lines Stock Performance
Delta Air Lines (NYSE:DAL – Get Free Report) last issued its quarterly 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 firm had revenue of $17.67 billion for the quarter, compared to the consensus estimate of $17.43 billion. During the same quarter in the previous year, the company earned $2.10 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Research analysts anticipate that Delta Air Lines, Inc. will post 6.67 earnings per share for the current year.
Delta Air Lines Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 9th will be issued a $0.215 dividend. The ex-dividend date is Thursday, July 9th. This is a positive change 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 (DPR) is presently 14.26%.
Delta Air Lines News Roundup
Here are the key news stories impacting Delta Air Lines this week:
- Positive Sentiment: TD Cowen lifted its price target on Delta Air Lines to $112 and kept a buy rating, suggesting analysts see more upside ahead. Delta Air Lines (NYSE:DAL) Price Target Raised to $112.00 at TD Cowen
- Positive Sentiment: Multiple market write-ups highlighted strong travel demand and described Delta as a momentum and value stock, which may be supporting investor confidence. Why Delta Air Lines (DAL) is a Top Momentum Stock for the Long-Term
- Positive Sentiment: Reports also noted Delta’s healthy travel demand and additional bullish coverage, reinforcing the airline’s upbeat fundamental narrative. Delta Air Lines (DAL) Gains From Healthy Travel Demand
- Neutral Sentiment: Delta CEO Ed Bastian said cheaper jet fuel may not translate into lower airfares, implying pricing could stay firm even if fuel costs ease. Cheaper jet fuel won’t lower airfares, Delta Air Lines CEO Ed Bastian says
- Neutral Sentiment: Investors are also watching broader industry factors like geopolitical tensions and oil-price moves, which could create near-term volatility for airlines. Thanks to Escalating Iran Tensions, Delta Air Lines Stock Could Face Turbulence
Analysts Set New Price Targets
Several research firms have recently issued reports on DAL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Delta Air Lines in a research note on Tuesday, July 7th. Morgan Stanley lifted their target price on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Barclays boosted their target price on shares of Delta Air Lines from $85.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Seaport Research Partners upped their price target on shares of Delta Air Lines from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Finally, Zacks Research raised shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.40.
Read Our Latest Report on Delta Air Lines
Delta Air Lines 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.
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