Arax Advisory Partners Lowers Position in Delta Air Lines, Inc. $DAL

Arax Advisory Partners cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 88.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,663 shares of the transportation company’s stock after selling 290,170 shares during the quarter. Arax Advisory Partners’ holdings in Delta Air Lines were worth $2,614,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of DAL. TD Asset Management Inc lifted its position in shares of Delta Air Lines by 14.0% in the third quarter. TD Asset Management Inc now owns 457,796 shares of the transportation company’s stock valued at $25,980,000 after acquiring an additional 56,365 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Delta Air Lines in the third quarter valued at about $1,041,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Delta Air Lines by 22.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the transportation company’s stock valued at $7,438,000 after acquiring an additional 19,829 shares in the last quarter. iA Global Asset Management Inc. lifted its position in shares of Delta Air Lines by 53.2% in the fourth quarter. iA Global Asset Management Inc. now owns 92,142 shares of the transportation company’s stock valued at $6,395,000 after acquiring an additional 32,014 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in shares of Delta Air Lines by 66.0% in the third quarter. Ceredex Value Advisors LLC now owns 911,136 shares of the transportation company’s stock valued at $51,707,000 after acquiring an additional 362,329 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Trading Up 0.1%

Shares of NYSE DAL opened at $83.11 on Monday. The business’s 50 day moving average is $73.02 and its two-hundred day moving average is $69.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. Delta Air Lines, Inc. has a 1-year low of $45.28 and a 1-year high of $83.83. The stock has a market capitalization of $54.60 billion, a P/E ratio of 12.12, a PEG ratio of 1.17 and a beta of 1.30.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect that Delta Air Lines, Inc. will post 5.37 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, May 14th. Delta Air Lines’s payout ratio is presently 10.93%.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Allison C. Ausband sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the executive vice president directly owned 133,854 shares of the company’s stock, valued at $10,574,466. The trade was a 3.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John E. Laughter sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $71.61, for a total value of $1,074,150.00. Following the sale, the executive vice president directly owned 54,369 shares in the company, valued at $3,893,364.09. The trade was a 21.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 149,635 shares of company stock valued at $10,833,855 over the last ninety days. 0.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on DAL shares. Wolfe Research lowered their price objective on Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Seaport Research Partners boosted their price objective on Delta Air Lines from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Evercore restated an “outperform” rating and issued a $85.00 price objective on shares of Delta Air Lines in a research report on Friday, April 17th. Weiss Ratings cut Delta Air Lines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 6th. Finally, Morgan Stanley lifted their target price on Delta Air Lines from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.85.

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.