The Manufacturers Life Insurance Company Trims Stock Position in Delta Air Lines, Inc. $DAL

The Manufacturers Life Insurance Company lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 7.4% during the first quarter, HoldingsChannel.com reports. The fund owned 342,614 shares of the transportation company’s stock after selling 27,336 shares during the period. The Manufacturers Life Insurance Company’s holdings in Delta Air Lines were worth $22,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DAL. Lloyd Advisory Services LLC. purchased a new position in shares of Delta Air Lines during the 4th quarter valued at $31,000. Camelot Portfolios LLC bought a new position in shares of Delta Air Lines in the fourth quarter worth $34,000. Cornerstone Planning Group LLC raised its position in shares of Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after buying an additional 429 shares in the last quarter. Atlas Wealth LLC purchased a new stake in shares of Delta Air Lines in the first quarter worth $35,000. Finally, Main Street Group LTD bought a new stake in Delta Air Lines during the first quarter valued at $36,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Down 1.2%

Shares of NYSE:DAL opened at $87.53 on Friday. Delta Air Lines, Inc. has a 52-week low of $50.44 and a 52-week high of $95.68. The firm has a fifty day moving average of $85.29 and a 200 day moving average of $74.12. The firm has a market capitalization of $57.56 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.10 and a beta of 1.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42.

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

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were paid a $0.215 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 9th. Delta Air Lines’s payout ratio is currently 14.26%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DAL shares. Cantor Fitzgerald set a $112.00 target price on Delta Air Lines in a research report on Tuesday, July 14th. Jefferies Financial Group raised their price target on Delta Air Lines from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 10th. Argus set a $105.00 price target on Delta Air Lines in a research report on Tuesday, July 14th. Barclays lifted their price target on Delta Air Lines from $85.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, Morgan Stanley boosted their price objective on Delta Air Lines from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Twenty-three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.40.

Trending Headlines about Delta Air Lines

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

• Positive Sentiment: Wall Street analysts remain optimistic about Delta’s prospects, with coverage emphasizing the stock’s market outperformance and favorable recommendations. This supports investor confidence, although the reports provide limited new fundamental information. Do Wall Street Analysts Like Delta Air Lines Stock? Do Wall Street Analysts Like Delta Air Lines Stock?
• Positive Sentiment: A Delta partnership with DraftKings will offer customers a free-to-play sports knowledge contest. The initiative could modestly strengthen customer engagement and ancillary revenue opportunities, but its direct financial effect is likely limited. Delta, DraftKings partner on free-to-play sports knowledge contest
• Neutral Sentiment: Delta has attracted elevated attention from Zacks users, while broker commentary continues to favor the stock. The increased visibility may support trading interest, but it does not represent a new earnings or operating catalyst. Delta Air Lines Is a Trending Stock Brokers Suggest Investing in Delta
• Neutral Sentiment: Boeing narrowly led Airbus in orders at the Farnborough Airshow. A healthier Boeing could eventually improve aircraft supply and fleet-planning flexibility for airlines such as Delta, but the development has no immediate, material impact on DAL. Airlines Are Still Willing to Bet on Boeing

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Allison C. Ausband sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the executive vice president directly owned 133,854 shares in the company, valued at $10,574,466. This trade represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of Delta Air Lines stock in a transaction that occurred 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 transaction, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 65,331 shares of company stock valued at $5,036,638. 0.80% of the stock is owned by insiders.

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.