Investors Buy Delta Air Lines, Inc. (NYSE:DAL) on Weakness

Traders purchased shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading hours on Thursday. $96.31 million flowed into the stock on the tick-up and $53.92 million flowed out of the stock on the tick-down, for a money net flow of $42.39 million into the stock. Of all companies tracked, Delta Air Lines had the 17th highest net in-flow for the day. Delta Air Lines traded down ($0.63) for the day and closed at $49.04

DAL has been the subject of a number of research reports. Deutsche Bank AG boosted their price target on Delta Air Lines from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, April 18th. Vetr raised Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $57.50 price target for the company in a research report on Tuesday, July 25th. ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Evercore ISI reissued an “outperform” rating and set a $66.00 price target on shares of Delta Air Lines in a research report on Friday, July 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $62.00 price target (down previously from $63.00) on shares of Delta Air Lines in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Delta Air Lines has an average rating of “Buy” and a consensus price target of $60.74.

The company has a 50-day moving average of $52.50 and a 200-day moving average of $49.45. The firm has a market cap of $35.70 billion, a price-to-earnings ratio of 9.72 and a beta of 1.20.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the previous year, the business posted $1.47 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio (DPR) is presently 16.10%.

In related news, EVP Joanne D. Smith sold 3,700 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total value of $199,800.00. Following the completion of the sale, the executive vice president now owns 77,223 shares in the company, valued at $4,170,042. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joanne D. Smith sold 4,475 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $49.32, for a total transaction of $220,707.00. Following the completion of the sale, the executive vice president now owns 85,398 shares of the company’s stock, valued at approximately $4,211,829.36. The disclosure for this sale can be found here. In the last quarter, insiders purchased 394,000 shares of company stock valued at $31,520 and sold 131,306 shares valued at $6,924,439. 0.37% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $100,000. Tompkins Financial Corp acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $107,000. TrimTabs Asset Management LLC boosted its position in shares of Delta Air Lines by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock worth $111,000 after buying an additional 1,136 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Delta Air Lines during the first quarter worth approximately $114,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Delta Air Lines by 40.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock worth $127,000 after buying an additional 793 shares in the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.

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Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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