Delta Air Lines, Inc. (NYSE:DAL) EVP Sells $1,176,206.78 in Stock

Delta Air Lines, Inc. (NYSE:DAL) EVP Alain Bellemare sold 24,073 shares of Delta Air Lines stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the completion of the sale, the executive vice president now owns 141,451 shares in the company, valued at $6,911,295.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Delta Air Lines Stock Performance

Shares of DAL opened at $49.90 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.41 and a quick ratio of 0.36. The firm’s 50 day moving average is $44.83 and its 200-day moving average is $40.07. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $49.94. The stock has a market capitalization of $32.20 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.73 and a beta of 1.43.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $12.51 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Delta Air Lines, Inc. will post 6.52 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.80%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DAL shares. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley reissued an “overweight” rating and set a $85.00 price target on shares of Delta Air Lines in a report on Thursday, April 11th. Bank of America upped their price objective on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, TheStreet upgraded shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $58.29.

Hedge Funds Weigh In On Delta Air Lines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. lifted its stake in 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 valued at $25,000 after buying an additional 570 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its stake in Delta Air Lines by 396.6% in the 4th quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after purchasing an additional 575 shares during the period. Moisand Fitzgerald Tamayo LLC boosted its stake in Delta Air Lines by 55.2% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 874 shares of the transportation company’s stock worth $32,000 after purchasing an additional 311 shares during the period. Finally, Manchester Capital Management LLC grew its position in Delta Air Lines by 26,166.7% during the 4th 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. Institutional investors and hedge funds own 69.93% of the company’s stock.

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.