Delta Air Lines, Inc. (NYSE:DAL) President Sells $4,905,000.00 in Stock

Delta Air Lines, Inc. (NYSE:DAL) President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the completion of the sale, the president now directly owns 217,584 shares in the company, valued at approximately $10,672,495.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Delta Air Lines Price Performance

Shares of DAL stock opened at $49.90 on Friday. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $49.94. The firm’s 50 day moving average is $44.83 and its 200-day moving average is $40.07. The firm has a market capitalization of $32.20 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.73 and a beta of 1.43. 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 (NYSE:DAL) last announced its quarterly earnings data 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 net margin of 8.48% and a return on equity of 41.89%. The firm had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $12.51 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.52 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.80%. Delta Air Lines’s payout ratio is presently 5.14%.

Hedge Funds Weigh In On Delta Air Lines

Hedge funds and other institutional investors have recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC bought a new position in shares of Delta Air Lines during the fourth quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Delta Air Lines by 495.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 685 shares of the transportation company’s stock worth $25,000 after purchasing an additional 570 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Delta Air Lines by 396.6% during the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after purchasing an additional 575 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Delta Air Lines by 26,166.7% during the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after purchasing an additional 785 shares in the last quarter. Finally, Rise Advisors LLC raised its holdings in shares of Delta Air Lines by 122.5% during the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after acquiring an additional 452 shares during the period. 69.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DAL shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. UBS Group started coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Delta Air Lines in a research note on Thursday, April 11th. StockNews.com cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, Susquehanna upped their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. One investment 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 company currently has a consensus rating of “Buy” and a consensus target price of $58.29.

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.