Delta Air Lines, Inc. $DAL Shares Sold by Deltec Asset Management LLC

Deltec Asset Management LLC lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 61.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,700 shares of the transportation company’s stock after selling 16,800 shares during the period. Deltec Asset Management LLC’s holdings in Delta Air Lines were worth $526,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Delta Air Lines by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company’s stock valued at $3,179,508,000 after buying an additional 514,264 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Delta Air Lines in the 2nd quarter valued at approximately $386,364,000. Invesco Ltd. boosted its position in Delta Air Lines by 30.2% in the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock valued at $315,788,000 after buying an additional 1,681,464 shares during the period. AQR Capital Management LLC boosted its position in Delta Air Lines by 149.9% in the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock valued at $246,487,000 after buying an additional 3,577,489 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Delta Air Lines by 66.9% in the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company’s stock valued at $257,918,000 after buying an additional 2,370,795 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DAL. Bernstein Bank lifted their price objective on shares of Delta Air Lines from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, July 11th. Jefferies Financial Group set a $70.00 price target on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen boosted their price target on shares of Delta Air Lines from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Wolfe Research boosted their price target on shares of Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Finally, Citigroup boosted their price target on shares of Delta Air Lines from $62.00 to $65.50 and gave the stock a “buy” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and an average price target of $67.69.

Insider Buying and Selling

In other news, EVP Steven M. Sear sold 18,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total value of $1,007,280.00. Following the completion of the sale, the executive vice president owned 97,505 shares of the company’s stock, valued at $5,456,379.80. This represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the sale, the director directly owned 33,245 shares of the company’s stock, valued at $2,017,971.50. The trade was a 6.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,473 shares of company stock valued at $7,663,496. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Stock Performance

NYSE:DAL opened at $56.71 on Wednesday. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The firm has a 50 day simple moving average of $58.13 and a 200-day simple moving average of $51.01. The firm has a market cap of $37.03 billion, a PE ratio of 8.22, a P/E/G ratio of 1.76 and a beta of 1.51.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The firm had revenue of $15.51 billion during the quarter, compared to analyst estimates of $16.16 billion. During the same quarter in the prior year, the business posted $2.36 earnings per share. Delta Air Lines’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. Delta Air Lines’s dividend payout ratio is presently 10.87%.

Delta Air Lines 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.