Chung Wu Investment Group LLC Invests $49,000 in Delta Air Lines, Inc. $DAL

Chung Wu Investment Group LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the transportation company’s stock, valued at approximately $49,000.

Several other large investors have also recently bought and sold shares of DAL. Valeo Financial Advisors LLC increased its position in Delta Air Lines by 12.4% during the second quarter. Valeo Financial Advisors LLC now owns 15,900 shares of the transportation company’s stock worth $782,000 after acquiring an additional 1,751 shares during the period. DAVENPORT & Co LLC grew its stake in Delta Air Lines by 19.3% during the second quarter. DAVENPORT & Co LLC now owns 17,412 shares of the transportation company’s stock worth $856,000 after buying an additional 2,815 shares in the last quarter. Olistico Wealth LLC increased its holdings in Delta Air Lines by 46.1% in the 2nd quarter. Olistico Wealth LLC now owns 1,585 shares of the transportation company’s stock valued at $78,000 after buying an additional 500 shares during the period. Clarius Group LLC acquired a new stake in shares of Delta Air Lines in the 2nd quarter valued at $366,000. Finally, Penobscot Investment Management Company Inc. bought a new stake in shares of Delta Air Lines during the 2nd quarter worth $221,000. 69.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DAL. UBS Group set a $72.00 target price on shares of Delta Air Lines in a research note on Friday, July 11th. Wolfe Research upped their target price on Delta Air Lines from $56.00 to $63.00 in a report on Monday, July 14th. Barclays lifted their price target on Delta Air Lines from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. BNP Paribas Exane upped their price objective on Delta Air Lines from $58.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 11th. Finally, TD Cowen lifted their target price on shares of Delta Air Lines from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the stock. According to MarketBeat, Delta Air Lines currently has an average rating of “Buy” and an average target price of $67.84.

Insider Activity

In other news, Director Michael P. Huerta sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction 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. This trade represents a 6.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alain Bellemare sold 45,423 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the completion of the sale, the executive vice president owned 131,731 shares of the company’s stock, valued at $7,318,974.36. The trade was a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 136,473 shares of company stock worth $7,663,496. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Up 0.4%

DAL opened at $57.32 on Monday. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The company has a fifty day moving average of $58.23 and a 200-day moving average of $51.24. The stock has a market cap of $37.42 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.50. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.09. The firm had revenue of $15.51 billion during the quarter, compared to the consensus estimate of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The business’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $2.36 EPS. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

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

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.