Clear Creek Financial Management LLC Cuts Stake in Delta Air Lines, Inc. (NYSE:DAL)

Clear Creek Financial Management LLC cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 9.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,213 shares of the transportation company’s stock after selling 613 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Delta Air Lines were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DAL. MeadowBrook Investment Advisors LLC bought a new stake in Delta Air Lines in the fourth quarter worth $27,000. Manchester Capital Management LLC lifted its position in Delta Air Lines by 26,166.7% in the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after buying an additional 785 shares during the last quarter. Rise Advisors LLC lifted its position in Delta Air Lines by 122.5% in the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after buying an additional 452 shares during the last quarter. Nordwand Advisors LLC bought a new stake in Delta Air Lines in the fourth quarter worth $40,000. Finally, Unique Wealth Strategies LLC bought a new stake in Delta Air Lines in the second quarter worth $40,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Up 3.1 %

Shares of DAL stock traded up $1.24 on Friday, hitting $41.38. The stock had a trading volume of 6,033,520 shares, compared to its average volume of 9,552,022. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average price of $43.99 and a 200 day moving average price of $45.94. The company has a market cap of $26.70 billion, a PE ratio of 5.95, a P/E/G ratio of 0.86 and a beta of 1.35. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. During the same quarter last year, the firm earned $2.68 EPS. Delta Air Lines’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts anticipate that Delta Air Lines, Inc. will post 6.26 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a dividend of $0.15 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.45%. Delta Air Lines’s payout ratio is presently 8.63%.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, Director Willie Cw Chiang purchased 10,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

DAL has been the subject of a number of analyst reports. HSBC initiated coverage on Delta Air Lines in a research report on Monday, May 13th. They issued a “buy” rating and a $72.80 price target for the company. Jefferies Financial Group decreased their target price on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Sanford C. Bernstein decreased their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. TD Cowen decreased their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Citigroup lifted their target price on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $60.70.

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.