Delta Air Lines (NYSE:DAL) EVP Alain Bellemare Sells 35,000 Shares

Delta Air Lines, Inc. (NYSE:DAL) EVP Alain Bellemare sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares in the company, valued at approximately $8,810,718. This trade represents a 26.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alain Bellemare also recently made the following trade(s):

• On Wednesday, May 27th, Alain Bellemare sold 25,000 shares of Delta Air Lines stock. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00.
• On Thursday, May 7th, Alain Bellemare sold 20,621 shares of Delta Air Lines stock. The stock was sold at an average price of $72.75, for a total transaction of $1,500,177.75.

Delta Air Lines Stock Up 0.4%

Shares of NYSE:DAL traded up $0.36 during trading hours on Wednesday, reaching $93.13. The stock had a trading volume of 5,025,014 shares, compared to its average volume of 9,359,144. Delta Air Lines, Inc. has a 1 year low of $52.88 and a 1 year high of $95.68. The firm’s 50 day moving average is $85.87 and its 200-day moving average is $74.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42. The stock has a market capitalization of $61.24 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.15 and a beta of 1.31.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The company’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the business earned $2.10 EPS. Research analysts predict that Delta Air Lines, Inc. will post 6.54 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared 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 a boost from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, July 9th. Delta Air Lines’s payout ratio is 14.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Zacks Research raised Delta Air Lines from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Citigroup increased their price target on shares of Delta Air Lines from $106.00 to $110.00 and gave the company a “buy” rating in a research note on Sunday, July 12th. Evercore raised their price objective on shares of Delta Air Lines from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. BMO Capital Markets boosted their price objective on shares of Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Finally, UBS Group upped their target price on shares of 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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.40.

Institutional Trading of Delta Air Lines

Institutional investors and hedge funds have recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its stake in Delta Air Lines by 195.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company’s stock worth $34,000 after buying an additional 237 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in Delta Air Lines during the fourth quarter worth approximately $31,000. Camelot Portfolios LLC acquired a new position in Delta Air Lines during the fourth quarter worth approximately $34,000. Cornerstone Planning Group LLC lifted its stake in Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock valued at $34,000 after buying an additional 429 shares during the last quarter. Finally, Atlas Wealth LLC purchased a new stake in Delta Air Lines in the first quarter valued at approximately $35,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

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.