Elevation Point Wealth Partners LLC Grows Holdings in Delta Air Lines, Inc. $DAL

Elevation Point Wealth Partners LLC lifted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 34.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 24,613 shares of the transportation company’s stock after purchasing an additional 6,362 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Delta Air Lines were worth $1,636,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in shares of Delta Air Lines by 33.5% in the 4th quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock valued at $555,000 after buying an additional 2,302 shares during the period. Acadian Asset Management LLC purchased a new position in Delta Air Lines during the 1st quarter valued at about $178,000. Sivia Capital Partners LLC purchased a new position in Delta Air Lines during the 2nd quarter valued at about $555,000. Marshall Wace LLP grew its position in Delta Air Lines by 102.2% in the 2nd quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company’s stock valued at $385,000 after acquiring an additional 357,825 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Delta Air Lines by 10.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company’s stock valued at $2,859,000 after acquiring an additional 5,564 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In other news, EVP Alain Bellemare sold 25,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 95,025 shares in the company, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John E. Laughter sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $71.61, for a total transaction of $1,074,150.00. Following the transaction, the executive vice president owned 54,369 shares of the company’s stock, valued at approximately $3,893,364.09. The trade was a 21.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 149,635 shares of company stock worth $10,833,855. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DAL. Barclays increased their price target on shares of Delta Air Lines from $85.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. HSBC dropped their price objective on shares of Delta Air Lines from $80.20 to $79.30 and set a “buy” rating for the company in a report on Thursday, April 9th. BNP Paribas Exane cut their target price on shares of Delta Air Lines from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Jefferies Financial Group increased their target price on shares of Delta Air Lines from $81.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Evercore raised their price target on shares of Delta Air Lines from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Delta Air Lines currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.93.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $92.75 on Monday. Delta Air Lines, Inc. has a one year low of $49.19 and a one year high of $95.68. The company has a market cap of $60.94 billion, a PE ratio of 13.52, a P/E/G ratio of 1.39 and a beta of 1.29. 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 business has a 50-day simple moving average of $78.99 and a 200-day simple moving average of $71.91.

Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 5.47 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be given 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 dividend yield of 0.9%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s payout ratio is currently 10.93%.

Key Stories Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Multiple earnings-preview pieces say Delta looks positioned to beat estimates, supported by strong bookings and lower fuel costs, which could improve near-term results. Delta Air Lines (DAL) Expected to Beat Earnings Estimates: Should You Buy?
• Positive Sentiment: BMO Capital Markets raised its price target on Delta to $105 from $80 and kept an outperform rating, reinforcing a more optimistic Wall Street view of the airline. Benzinga report on BMO price target increase
• Positive Sentiment: Goldman Sachs and TD Cowen also lifted targets across major U.S. airlines, with Delta included, which signals improving analyst confidence in the sector’s revenue outlook. Airlines Get a Wall Street Lift as Goldman, TD Cowen Raise Targets on Delta, United, Southwest, American
• Positive Sentiment: Delta’s international expansion, including its Korean Air partnership and new Los Angeles-to-Hong Kong service, underscores growth in the high-margin trans-Pacific market. Delta (DAL) Expands Pacific Reach With Korean Air Tie Up And Hong Kong Route

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.