Econ Financial Services Corp Invests $1.97 Million in Delta Air Lines, Inc. $DAL

Econ Financial Services Corp acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 40,146 shares of the transportation company’s stock, valued at approximately $1,974,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Whalen Wealth Management Inc. purchased a new stake in Delta Air Lines in the second quarter valued at $1,022,000. New York Life Investment Management LLC lifted its position in Delta Air Lines by 3.5% in the second quarter. New York Life Investment Management LLC now owns 88,217 shares of the transportation company’s stock valued at $4,339,000 after acquiring an additional 2,966 shares during the last quarter. Howard Capital Management Inc. lifted its position in Delta Air Lines by 0.3% in the second quarter. Howard Capital Management Inc. now owns 88,651 shares of the transportation company’s stock valued at $4,360,000 after acquiring an additional 287 shares during the last quarter. Advisory Alpha LLC purchased a new stake in Delta Air Lines in the second quarter valued at $291,000. Finally, Rossby Financial LCC lifted its position in Delta Air Lines by 1,458.1% in the second quarter. Rossby Financial LCC now owns 5,360 shares of the transportation company’s stock valued at $264,000 after acquiring an additional 5,016 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Delta Air Lines

In other news, EVP John E. Laughter sold 23,323 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the transaction, the executive vice president directly owned 81,109 shares in the company, valued at $5,055,523.97. The trade was a 22.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the transaction, the senior vice president owned 15,816 shares in the company, valued at approximately $968,730. This trade represents a 46.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,833 shares of company stock worth $2,463,585 over the last ninety days. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Trading Down 4.2%

NYSE DAL opened at $57.93 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. The firm has a market cap of $37.82 billion, a PE ratio of 8.16, a P/E/G ratio of 1.38 and a beta of 1.50. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The firm’s fifty day moving average is $59.54 and its two-hundred day moving average is $53.26.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The company had revenue of $8.40 billion for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. Analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed 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 is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. Delta Air Lines’s payout ratio is currently 10.56%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DAL. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Delta Air Lines from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Morgan Stanley boosted their price target on shares of Delta Air Lines from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Susquehanna boosted their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “positive” rating in a research report on Friday, October 10th. UBS Group boosted their price target on shares of Delta Air Lines from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $71.53.

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.