Federated Hermes Inc. Trims Position in Delta Air Lines, Inc. $DAL

Federated Hermes Inc. decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 27.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,363 shares of the transportation company’s stock after selling 123,493 shares during the quarter. Federated Hermes Inc.’s holdings in Delta Air Lines were worth $16,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in DAL. Signature Resources Capital Management LLC bought a new position in Delta Air Lines in the 2nd quarter worth $25,000. NewSquare Capital LLC boosted its stake in shares of Delta Air Lines by 184.6% during the 2nd quarter. NewSquare Capital LLC now owns 572 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 371 shares in the last quarter. Activest Wealth Management increased its position in shares of Delta Air Lines by 2,280.8% during the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock valued at $30,000 after buying an additional 593 shares during the period. Wealth Preservation Advisors LLC bought a new position in Delta Air Lines in the first quarter worth about $31,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Delta Air Lines in the first quarter worth about $33,000. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $69.92 on Thursday. The business has a fifty day moving average price of $60.42 and a 200-day moving average price of $56.74. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The company has a market capitalization of $45.66 billion, a PE ratio of 9.85, a PEG ratio of 1.58 and a beta of 1.38. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $8.40 billion for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. As a group, equities analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were issued a dividend of $0.1875 per share. The ex-dividend date was Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.1%. Delta Air Lines’s dividend payout ratio is presently 10.56%.

Insider Activity at Delta Air Lines

In related news, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the sale, the senior vice president owned 15,816 shares of the company’s stock, valued at $968,730. This trade represents a 46.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total value of $1,453,722.59. Following the completion of the transaction, the executive vice president directly owned 81,109 shares in the company, valued at $5,055,523.97. This trade represents a 22.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DAL has been the topic of several research reports. Cowen reiterated a “buy” rating on shares of Delta Air Lines in a report on Thursday, December 4th. TD Cowen upped their price target on Delta Air Lines from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Jefferies Financial Group decreased their price objective on Delta Air Lines from $74.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Bank of America boosted their target price on shares of Delta Air Lines from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Dbs Bank raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. Based on data from MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and a consensus target price of $73.40.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.