Virtu Financial LLC purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,069 shares of the transportation company’s stock, valued at approximately $768,000.
Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Delta Air Lines by 33.5% during the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock worth $555,000 after acquiring an additional 2,302 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Delta Air Lines in the 1st quarter valued at $178,000. Sivia Capital Partners LLC acquired a new stake in Delta Air Lines during the 2nd quarter worth $555,000. Marshall Wace LLP boosted its stake in Delta Air Lines by 102.2% during the 2nd quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company’s stock worth $385,000 after purchasing an additional 357,825 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Delta Air Lines by 10.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company’s stock worth $2,859,000 after purchasing an additional 5,564 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on DAL shares. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $88.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Citigroup reiterated a “buy” rating on shares of Delta Air Lines in a research note on Monday. UBS Group raised their price target on Delta Air Lines from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Seaport Research Partners boosted their price target 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. Finally, Bank of America upped their price objective on Delta Air Lines from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Delta Air Lines presently has an average rating of “Moderate Buy” and an average target price of $82.30.
Insiders Place Their Bets
In related news, EVP Allison C. Ausband sold 9,710 shares of Delta Air Lines stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $76.00, for a total value of $737,960.00. Following the sale, the executive vice president directly owned 138,854 shares in the company, valued at $10,552,904. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 149,635 shares of company stock worth $10,833,855. Company insiders own 0.80% of the company’s stock.
More Delta Air Lines News
Here are the key news stories impacting Delta Air Lines this week:
- Positive Sentiment: Bank of America raised its price target on Delta Air Lines to $93 from $78 and reiterated a buy rating, signaling confidence in upside from current levels. Article: Bank of America raises Delta price target
- Positive Sentiment: Argus also boosted its price target on DAL to $100 from $85 and maintained a buy rating, reinforcing the bullish analyst outlook. Article: Argus raises Delta price target
- Positive Sentiment: Delta shareholders backed the existing board and governance structure at the annual meeting, reducing uncertainty around corporate oversight. Article: Delta shareholders back board, governance status quo
- Positive Sentiment: Delta approved a 15% increase in its quarterly dividend, a sign management is confident in cash generation and financial strength. Article: Delta lifts dividend 15% while upgrading 737s
- Positive Sentiment: Berkshire Hathaway disclosed a new large position in Delta Air Lines, adding an influential long-term investor to the shareholder base. Article: Berkshire buys Delta stake
Delta Air Lines Stock Up 2.3%
Shares of Delta Air Lines stock opened at $86.12 on Tuesday. Delta Air Lines, Inc. has a one year low of $45.28 and a one year high of $87.39. The company has a market cap of $56.58 billion, a P/E ratio of 12.55, a PEG ratio of 1.16 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The firm has a fifty day moving average of $75.05 and a two-hundred day moving average of $70.44.
Delta Air Lines (NYSE:DAL – Get Free Report) last issued its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that Delta Air Lines, Inc. will post 5.52 earnings per share for the current year.
Delta Air Lines Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio is presently 10.93%.
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.
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