Prosperity Wealth Management Inc. Takes $217,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Prosperity Wealth Management Inc. bought a new position in Delta Air Lines, Inc. (NYSE:DAL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,403 shares of the transportation company’s stock, valued at approximately $217,000.

Other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in shares of Delta Air Lines by 10.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,817 shares of the transportation company’s stock worth $134,000 after purchasing an additional 258 shares during the last quarter. Forum Financial Management LP lifted its holdings in shares of Delta Air Lines by 3.5% during the first quarter. Forum Financial Management LP now owns 8,675 shares of the transportation company’s stock worth $343,000 after buying an additional 292 shares during the last quarter. Navalign LLC lifted its holdings in shares of Delta Air Lines by 1.7% during the fourth quarter. Navalign LLC now owns 17,402 shares of the transportation company’s stock worth $700,000 after buying an additional 293 shares during the last quarter. Utah Retirement Systems boosted its position in shares of Delta Air Lines by 0.6% in the fourth quarter. Utah Retirement Systems now owns 54,325 shares of the transportation company’s stock valued at $1,785,000 after acquiring an additional 300 shares during the period. Finally, Summit X LLC grew its stake in shares of Delta Air Lines by 1.1% in the third quarter. Summit X LLC now owns 28,205 shares of the transportation company’s stock worth $1,044,000 after acquiring an additional 307 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Analysts Set New Price Targets

DAL has been the subject of a number of research reports. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Bank of America boosted their price target on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. TheStreet raised Delta Air Lines from a “c+” rating to a “b-” rating in a report on Thursday, January 4th. Finally, Susquehanna lifted their price objective on Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $58.29.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $47.88 on Thursday. The stock has a market capitalization of $30.90 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 0.69 and a beta of 1.43. The firm’s 50-day moving average price is $43.87 and its two-hundred day moving average price is $39.58. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. Delta Air Lines, Inc. has a 1-year low of $30.60 and a 1-year high of $49.81.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The business had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Delta Air Lines, Inc. will post 6.52 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, February 26th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. Delta Air Lines’s payout ratio is 5.14%.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 71,840 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $39.20, for a total transaction of $2,816,128.00. Following the completion of the sale, the chief executive officer now owns 428,768 shares in the company, valued at approximately $16,807,705.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is owned by company insiders.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.