Insider Selling: Richard B. Hirst Sells 65,000 Shares of Delta Air Lines Stock (DAL)
Delta Air Lines (NYSE:DAL) EVP Richard B. Hirst sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $37.13, for a total value of $2,413,450.00. Following the completion of the sale, the executive vice president now directly owns 291,030 shares of the company’s stock, valued at approximately $10,805,944. The transaction was disclosed in a filing with the SEC, which is available at this link.
Delta Air Lines (NYSE:DAL) traded down 2.82% during mid-day trading on Tuesday, hitting $36.23. The stock had a trading volume of 16,390,870 shares. Delta Air Lines has a 52 week low of $18.53 and a 52 week high of $42.66. The stock has a 50-day moving average of $38.19 and a 200-day moving average of $35.84. The company has a market cap of $30.469 billion and a P/E ratio of 2.94.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.04 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.04. The company had revenue of $10.62 billion for the quarter, compared to the consensus estimate of $10.65 billion. During the same quarter last year, the company posted $0.98 earnings per share. Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Delta Air Lines will post $3.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 8th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, August 6th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.06.
DAL has been the subject of a number of recent research reports. Analysts at CRT Capital raised their price target on shares of Delta Air Lines from $43.00 to $47.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Delta Air Lines in a research note on Thursday, July 24th. They now have a $48.00 price target on the stock, up previously from $46.00. Finally, analysts at Imperial Capital raised their price target on shares of Delta Air Lines from $48.00 to $53.00 in a research note on Thursday, July 24th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $44.70.
Delta Air Lines, Inc (NYSE:DAL) provides scheduled air transportation for passengers and cargo throughout the United States and around the world.
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