Sound Income Strategies LLC Acquires 245 Shares of Delta Air Lines, Inc. $DAL

Sound Income Strategies LLC grew its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 1,911 shares of the transportation company’s stock after purchasing an additional 245 shares during the period. Sound Income Strategies LLC’s holdings in Delta Air Lines were worth $94,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DAL. Kingstone Capital Partners Texas LLC bought a new position in shares of Delta Air Lines during the 2nd quarter valued at $386,364,000. Pacer Advisors Inc. grew its stake in Delta Air Lines by 5,224.6% in the 1st quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company’s stock valued at $189,081,000 after buying an additional 4,255,262 shares during the last quarter. AQR Capital Management LLC grew its stake 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 last quarter. Ameriprise Financial Inc. grew its stake in Delta Air Lines by 347.4% in the 1st quarter. Ameriprise Financial Inc. now owns 4,232,974 shares of the transportation company’s stock valued at $184,909,000 after buying an additional 3,286,741 shares during the last quarter. Finally, Ninety One UK Ltd grew its stake in Delta Air Lines by 1,469.9% in the 1st quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company’s stock valued at $144,273,000 after buying an additional 3,098,237 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL opened at $56.71 on Wednesday. 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 market capitalization of $37.03 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.76 and a beta of 1.51. The company’s fifty day moving average is $58.13 and its two-hundred day moving average is $51.01. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating 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 business had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same period in the previous year, the business earned $2.36 EPS. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

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

Insider Buying and Selling at Delta Air Lines

In other news, EVP Steven M. Sear sold 18,000 shares of Delta Air Lines stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the sale, the executive vice president directly owned 97,505 shares in the company, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the sale, the chief executive officer owned 632,823 shares in the company, valued at approximately $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock worth $7,663,496 in the last 90 days. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DAL shares. Bernstein Bank raised their target price on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, July 11th. Wolfe Research raised their target price on shares of Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Morgan Stanley raised their target price on shares of Delta Air Lines from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Raymond James Financial raised their target price on shares of Delta Air Lines from $60.00 to $68.00 in a research note on Friday, July 11th. Finally, Evercore ISI raised their target price on shares of Delta Air Lines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Delta Air Lines currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.99.

Delta Air Lines Company 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.