Bank of New York Mellon Corp raised its position in Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 29.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,270,241 shares of the transportation company’s stock after purchasing an additional 2,773,945 shares during the period. Bank of New York Mellon Corp owned 1.87% of Delta Air Lines worth $815,726,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its holdings in Delta Air Lines by 0.5% in the 4th quarter. IFM Investors Pty Ltd now owns 28,167 shares of the transportation company’s stock valued at $1,955,000 after acquiring an additional 144 shares during the last quarter. Utah Retirement Systems boosted its holdings in shares of Delta Air Lines by 0.3% during the 4th quarter. Utah Retirement Systems now owns 52,620 shares of the transportation company’s stock worth $3,652,000 after purchasing an additional 144 shares during the last quarter. First Financial Bank Trust Division boosted its holdings in shares of Delta Air Lines by 3.3% during the 4th quarter. First Financial Bank Trust Division now owns 4,721 shares of the transportation company’s stock worth $328,000 after purchasing an additional 150 shares during the last quarter. HBK Sorce Advisory LLC grew its position in shares of Delta Air Lines by 2.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 6,022 shares of the transportation company’s stock valued at $454,000 after purchasing an additional 151 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Delta Air Lines by 2.4% in the fourth quarter. Larson Financial Group LLC now owns 6,472 shares of the transportation company’s stock valued at $449,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.
Insider Activity at Delta Air Lines
In related news, EVP Alain Bellemare sold 25,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total value of $2,036,000.00. Following the completion of the sale, the executive vice president owned 95,025 shares in the company, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allison C. Ausband sold 9,710 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $76.00, for a total value of $737,960.00. Following the completion of the sale, the executive vice president directly owned 138,854 shares in the company, valued at approximately $10,552,904. The trade was a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 65,331 shares of company stock worth $5,036,638. Company insiders own 0.80% of the company’s stock.
More Delta Air Lines News
- Positive Sentiment: Delta is raising fares and keeping a higher baseline pricing structure, which should help protect margins if fuel costs stay elevated. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
- Positive Sentiment: Premium and corporate travel demand remains firm, supporting Delta’s revenue mix and pricing power. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
- Positive Sentiment: TD Cowen increased its price target on Delta Air Lines, signaling improved analyst confidence in the stock. Delta Air Lines (NYSE:DAL) Price Target Raised to $112.00 at TD Cowen
- Neutral Sentiment: Delta reported stronger revenue in the latest quarter, but net income fell from a year earlier, so the earnings update was mixed rather than uniformly positive. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
- Neutral Sentiment: Delta filed an omnibus shelf registration, which gives it flexibility to issue securities later, but does not by itself mean immediate dilution or financing activity. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
- Negative Sentiment: Higher jet fuel costs remain a headwind for the airline industry and could pressure Delta’s margins despite better pricing. United Airlines anticipates $6 billion in added fuel costs
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $106.00 price objective on shares of Delta Air Lines in a research report on Monday. Morgan Stanley upped their target price on Delta Air Lines from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, July 10th. JPMorgan Chase & Co. upped their target price on Delta Air Lines from $85.00 to $114.00 and gave the company an “overweight” rating in a report on Monday. Susquehanna raised their target price on Delta Air Lines from $78.00 to $108.00 and gave the stock a “positive” rating in a research note on Tuesday, July 7th. Finally, Wolfe Research reduced their price target on Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.40.
Check Out Our Latest Stock Analysis on DAL
Delta Air Lines Stock Performance
NYSE DAL opened at $86.66 on Friday. The stock has a market cap of $56.99 billion, a PE ratio of 14.37, a P/E/G ratio of 1.07 and a beta of 1.29. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. Delta Air Lines, Inc. has a twelve month low of $50.44 and a twelve month high of $95.68. The stock has a fifty day simple moving average of $82.28 and a 200-day simple moving average of $72.97.
Delta Air Lines (NYSE:DAL – Get Free Report) last issued its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. Delta Air Lines’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 EPS. Equities analysts anticipate that Delta Air Lines, Inc. will post 6.61 earnings per share for the current year.
Delta Air Lines Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a $0.215 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. Delta Air Lines’s payout ratio is presently 14.26%.
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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