Delta Air Lines (NYSE:DAL) Trading Down 3.3%

Delta Air Lines, Inc. (NYSE:DAL) traded down 3.3% during trading on Monday . The stock traded as low as $43.56 and last traded at $43.93. 1,645,661 shares were traded during trading, a decline of 83% from the average session volume of 9,691,845 shares. The stock had previously closed at $45.44.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. HSBC began coverage on shares of Delta Air Lines in a report on Monday, May 13th. They issued a “buy” rating and a $72.80 target price for the company. Bank of America boosted their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Citigroup increased their price target on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Jefferies Financial Group reduced their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $60.70.

Delta Air Lines Price Performance

The firm has a market cap of $28.74 billion, a price-to-earnings ratio of 6.46, a P/E/G ratio of 0.94 and a beta of 1.35. The business’s 50-day simple moving average is $49.16 and its two-hundred day simple moving average is $45.74. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The business had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.68 earnings per share. As a group, research analysts expect that Delta Air Lines, Inc. will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio is presently 5.76%.

Insider Buying and Selling

In other news, Director Willie Cw Chiang bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were bought at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $878,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Delta Air Lines news, EVP Peter W. Carter sold 50,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the transaction, the executive vice president now directly owns 143,328 shares in the company, valued at approximately $7,166,400. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Willie Cw Chiang acquired 10,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were bought at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $878,000. The disclosure for this purchase can be found here. Insiders have sold a total of 78,919 shares of company stock worth $3,929,653 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

Large investors have recently bought and sold shares of the stock. Manchester Capital Management LLC increased its position in shares of Delta Air Lines by 24.7% during the 1st quarter. Manchester Capital Management LLC now owns 983 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 195 shares during the last quarter. HBK Sorce Advisory LLC increased its position in shares of Delta Air Lines by 4.0% during the 1st quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock valued at $276,000 after purchasing an additional 221 shares during the last quarter. Silverlake Wealth Management LLC increased its position in shares of Delta Air Lines by 2.9% during the 1st quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock valued at $390,000 after purchasing an additional 229 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Delta Air Lines by 7.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,472 shares of the transportation company’s stock worth $166,000 after acquiring an additional 233 shares during the last quarter. Finally, Norden Group LLC increased its holdings in Delta Air Lines by 1.8% in the 1st quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock worth $670,000 after acquiring an additional 243 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Company Profile

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.