Taylor & Morgan Wealth Management LLC Cuts Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Taylor & Morgan Wealth Management LLC lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 9,238 shares of the transportation company’s stock after selling 188 shares during the quarter. Taylor & Morgan Wealth Management LLC’s holdings in Delta Air Lines were worth $469,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DAL. Woodmont Investment Counsel LLC increased its stake in Delta Air Lines by 15.7% during the 1st quarter. Woodmont Investment Counsel LLC now owns 41,090 shares of the transportation company’s stock valued at $1,967,000 after buying an additional 5,581 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Delta Air Lines by 84.0% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 197,464 shares of the transportation company’s stock valued at $9,453,000 after buying an additional 90,140 shares in the last quarter. Verum Partners LLC acquired a new stake in shares of Delta Air Lines in the 1st quarter valued at about $237,000. Silverlake Wealth Management LLC lifted its stake in shares of Delta Air Lines by 2.9% during the 1st quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock valued at $390,000 after buying an additional 229 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Delta Air Lines by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,650 shares of the transportation company’s stock worth $19,275,000 after acquiring an additional 6,915 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the sale, the executive vice president now owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the sale, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Stock Performance

NYSE DAL traded up $2.20 during trading on Monday, hitting $56.32. 4,404,742 shares of the company’s stock traded hands, compared to its average volume of 9,421,475. Delta Air Lines, Inc. has a 12-month low of $30.76 and a 12-month high of $56.64. The stock has a market capitalization of $36.34 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.98 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The business has a 50 day moving average of $47.33 and a 200-day moving average of $47.44.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. Delta Air Lines’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Delta Air Lines, Inc. will post 6.17 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.15 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.07%. Delta Air Lines’s dividend payout ratio is currently 8.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DAL shares. JPMorgan Chase & Co. lifted their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Susquehanna lifted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. Barclays lifted their price target on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Bank of America increased their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and a consensus target price of $65.40.

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.