Edward H. Bastian Sells 25,000 Shares of Delta Air Lines, Inc. (DAL) Stock
Delta Air Lines, Inc. (NYSE:DAL) CEO Edward H. Bastian sold 25,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $48.55, for a total transaction of $1,213,750.00. Following the transaction, the chief executive officer now owns 285,508 shares in the company, valued at approximately $13,861,413.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Delta Air Lines, Inc. (NYSE:DAL) traded up 0.21% during mid-day trading on Tuesday, hitting $48.59. 5,592,261 shares of the stock were exchanged. The stock’s 50-day moving average price is $46.84 and its 200-day moving average price is $48.27. The company has a market cap of $35.37 billion, a P/E ratio of 8.96 and a beta of 0.75. Delta Air Lines, Inc. has a 52-week low of $32.60 and a 52-week high of $52.76.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, April 12th. The transportation company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $9.15 billion during the quarter, compared to analyst estimates of $9.14 billion. Delta Air Lines had a net margin of 11.03% and a return on equity of 33.59%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. Equities research analysts anticipate that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be issued a dividend of $0.2025 per share. This represents a $0.81 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, May 17th. Delta Air Lines’s dividend payout ratio (DPR) is 14.04%.
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A number of analysts have commented on DAL shares. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 target price on shares of Delta Air Lines in a report on Wednesday, February 22nd. Zacks Investment Research cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Friday, February 17th. Vetr cut shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.26 target price for the company. in a report on Monday, January 23rd. Cowen and Company reaffirmed an “outperform” rating and set a $60.00 target price on shares of Delta Air Lines in a report on Monday, March 6th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $44.00 target price on shares of Delta Air Lines in a report on Friday, March 3rd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Delta Air Lines has an average rating of “Buy” and an average price target of $53.26.
Institutional investors have recently bought and sold shares of the stock. FNY Managed Accounts LLC purchased a new position in Delta Air Lines during the first quarter valued at $100,000. Tompkins Financial Corp bought a new stake in shares of Delta Air Lines during the first quarter valued at approximately $107,000. TrimTabs Asset Management LLC raised its stake in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock valued at $111,000 after buying an additional 1,136 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Delta Air Lines during the first quarter valued at approximately $114,000. Finally, Parallel Advisors LLC bought a new stake in shares of Delta Air Lines during the fourth quarter valued at approximately $128,000. 79.44% of the stock is owned by hedge funds and other institutional investors.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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