Delta Air Lines, Inc. $DAL Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 16.5% during the 1st quarter, Holdings Channel reports. The firm owned 37,045 shares of the transportation company’s stock after selling 7,329 shares during the quarter. NewEdge Wealth LLC’s holdings in Delta Air Lines were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Delta Air Lines by 137.4% during the fourth quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company’s stock valued at $958,538,000 after buying an additional 7,994,004 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new position in Delta Air Lines in the 4th quarter worth $471,532,000. Bank of New York Mellon Corp lifted its position in Delta Air Lines by 29.2% during the 1st quarter. Bank of New York Mellon Corp now owns 12,270,241 shares of the transportation company’s stock worth $815,726,000 after acquiring an additional 2,773,945 shares during the period. Pacer Advisors Inc. lifted its position in Delta Air Lines by 1,579.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,673,400 shares of the transportation company’s stock worth $185,534,000 after acquiring an additional 2,514,193 shares during the period. Finally, AQR Capital Management LLC grew its stake in Delta Air Lines by 44.3% during the 4th quarter. AQR Capital Management LLC now owns 6,155,776 shares of the transportation company’s stock valued at $426,441,000 after purchasing an additional 1,890,521 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

NYSE:DAL opened at $85.07 on Friday. Delta Air Lines, Inc. has a 52 week low of $50.44 and a 52 week high of $95.68. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $55.94 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. The stock’s 50-day moving average price is $83.80 and its 200-day moving average price is $73.56.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $17.67 billion during the quarter, compared to analysts’ expectations of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.Delta Air Lines’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. As a group, equities analysts expect that Delta Air Lines, Inc. will post 6.54 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, July 9th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio is currently 14.26%.

Trending Headlines about Delta Air Lines

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

• Positive Sentiment: Delta continues to draw investor interest as a major U.S. carrier with a strong Atlanta hub and ongoing travel demand support, which can help keep sentiment constructive around the stock. Article Title
• Positive Sentiment: Delta has also been trading with relatively low implied volatility, suggesting options are inexpensive and that traders may be positioning for a move higher or a stable range. Article Title
• Neutral Sentiment: Delta reportedly outperformed other airline stocks even as the broader group weakened, indicating relative strength rather than a clear company-specific catalyst. Article Title
• Negative Sentiment: Rising jet fuel prices are pressuring U.S. airline earnings forecasts, and Delta has already flagged fuel expense as a key margin headwind, which is weighing on airline shares. Article Title

Analysts Set New Price Targets

Several brokerages have recently issued reports on DAL. Morgan Stanley raised their price objective on Delta Air Lines from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. BMO Capital Markets upped their price objective on shares of Delta Air Lines from $80.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Wells Fargo & Company raised their target price on shares of Delta Air Lines from $75.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Zacks Research raised Delta Air Lines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, UBS Group boosted their price objective on Delta Air Lines from $107.00 to $112.00 and gave the company a “buy” rating in a report on Monday, July 13th. Twenty-three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Delta Air Lines has an average rating of “Moderate Buy” and an average price target of $100.40.

Insider Activity at Delta Air Lines

In other news, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $76.00, for a total transaction of $737,960.00. Following the transaction, the executive vice president owned 138,854 shares in the company, valued at $10,552,904. This trade represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alain Bellemare sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 65,331 shares of company stock valued at $5,036,638. Corporate insiders own 0.80% of the company’s stock.

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.