Delta Air Lines, Inc. $DAL Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 90.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,531 shares of the transportation company’s stock after selling 287,143 shares during the period. Trexquant Investment LP’s holdings in Delta Air Lines were worth $1,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Delta Air Lines by 5.9% during the first quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company’s stock worth $7,037,000 after buying an additional 9,034 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Delta Air Lines by 2.6% during 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 buying an additional 92,772 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Delta Air Lines by 152.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company’s stock worth $548,000 after buying an additional 7,586 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Delta Air Lines by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company’s stock worth $1,670,000 after buying an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in shares of Delta Air Lines by 1,169.4% during the first quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company’s stock worth $316,000 after buying an additional 6,677 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DAL has been the subject of several analyst reports. TD Cowen boosted their price objective on Delta Air Lines from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. The Goldman Sachs Group increased their price target on Delta Air Lines from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Citigroup increased their price target on Delta Air Lines from $62.00 to $65.50 and gave the company a “buy” rating in a research note on Friday, July 11th. Morgan Stanley increased their price target on Delta Air Lines from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their price target on Delta Air Lines from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $66.21.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Peter W. Carter sold 17,550 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the sale, the executive vice president directly owned 191,442 shares of the company’s stock, valued at $10,948,567.98. The trade was a 8.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the completion of the sale, the director 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. In the last three months, insiders have sold 136,473 shares of company stock worth $7,663,496. 0.88% of the stock is owned by corporate insiders.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $61.12 on Friday. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The stock has a fifty day moving average of $56.26 and a 200-day moving average of $50.66. The company has a market capitalization of $39.91 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The company had revenue of $15.51 billion during the quarter, compared to the consensus estimate of $16.16 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st were given a dividend of $0.1875 per share. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, July 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. Delta Air Lines’s payout ratio is currently 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.