Parcion Private Wealth LLC Makes New Investment in Delta Air Lines, Inc. $DAL

Parcion Private Wealth LLC purchased a new position in Delta Air Lines, Inc. (NYSE:DAL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,217 shares of the transportation company’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Delta Air Lines by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company’s stock worth $160,900,000 after acquiring an additional 92,772 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Delta Air Lines by 8.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company’s stock worth $1,670,000 after purchasing an additional 2,973 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Delta Air Lines in the second quarter worth approximately $15,138,000. Jefferies Financial Group Inc. raised its stake in shares of Delta Air Lines by 1,169.4% in the first quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company’s stock worth $316,000 after purchasing an additional 6,677 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Delta Air Lines by 21.2% in the first quarter. Asset Management One Co. Ltd. now owns 145,240 shares of the transportation company’s stock worth $6,332,000 after purchasing an additional 25,406 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael P. Huerta sold 2,500 shares of the stock in a transaction that occurred 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 approximately $2,017,971.50. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William C. Carroll sold 14,010 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the transaction, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. This trade represents a 46.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL opened at $60.04 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $39.20 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 1.43 and a beta of 1.50. The stock has a 50 day moving average of $59.60 and a 200 day moving average of $52.52. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The company had revenue of $8.40 billion during the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.56%.

Analyst Ratings Changes

Several analysts have recently commented on DAL shares. HSBC increased their price objective on Delta Air Lines from $69.20 to $73.70 and gave the stock a “buy” rating in a research note on Friday, October 10th. Sanford C. Bernstein increased their price objective on Delta Air Lines from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Morgan Stanley increased their price objective on Delta Air Lines from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Evercore ISI increased their price objective on Delta Air Lines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, TD Cowen increased their price objective on Delta Air Lines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $71.53.

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.