Summit Financial LLC Lowers Stake in Delta Air Lines, Inc. (NYSE:DAL)

Summit Financial LLC trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 9.9% during the fourth quarter, Holdings Channel reports. The firm owned 19,628 shares of the transportation company’s stock after selling 2,161 shares during the quarter. Summit Financial LLC’s holdings in Delta Air Lines were worth $1,188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Delta Air Lines by 16.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,571 shares of the transportation company’s stock valued at $1,857,000 after acquiring an additional 5,046 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Delta Air Lines by 12.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,941 shares of the transportation company’s stock valued at $67,548,000 after purchasing an additional 147,438 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Delta Air Lines by 6.0% in the third quarter. Captrust Financial Advisors now owns 54,542 shares of the transportation company’s stock valued at $2,770,000 after acquiring an additional 3,106 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Delta Air Lines by 2,958.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 199,531 shares of the transportation company’s stock worth $10,134,000 after purchasing an additional 193,008 shares during the last quarter. Finally, Atom Investors LP acquired a new position in Delta Air Lines in the third quarter valued at $950,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DAL has been the topic of a number of research reports. UBS Group lowered their price target on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. TD Cowen boosted their target price on Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 13th. Barclays cut their price target on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday. Finally, Susquehanna upped their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.29.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Rahul D. Samant sold 17,970 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $69.08, for a total transaction of $1,241,367.60. Following the sale, the executive vice president now owns 35,889 shares in the company, valued at approximately $2,479,212.12. This represents a 33.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Trading Down 2.8 %

Shares of Delta Air Lines stock opened at $42.38 on Wednesday. The company has a 50-day moving average of $57.98 and a two-hundred day moving average of $58.36. Delta Air Lines, Inc. has a 12-month low of $37.29 and a 12-month high of $69.98. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The stock has a market cap of $27.40 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.09. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. On average, research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.42%. Delta Air Lines’s dividend payout ratio is presently 11.26%.

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.