Munich Reinsurance Co Stock Corp in Munich Sells 172,849 Shares of Delta Air Lines, Inc. $DAL

Munich Reinsurance Co Stock Corp in Munich decreased its position in Delta Air Lines, Inc. (NYSE:DAL) by 68.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,501 shares of the transportation company’s stock after selling 172,849 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Delta Air Lines were worth $5,219,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lloyd Advisory Services LLC. bought a new position in shares of Delta Air Lines during the fourth quarter worth about $31,000. Camelot Portfolios LLC bought a new stake in Delta Air Lines in the 4th quarter valued at approximately $34,000. Byrne Asset Management LLC bought a new stake in Delta Air Lines in the 4th quarter valued at approximately $35,000. Beacon Financial Strategies CORP acquired a new position in Delta Air Lines during the 4th quarter worth approximately $36,000. Finally, Cornerstone Planning Group LLC boosted its position in Delta Air Lines by 451.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after acquiring an additional 429 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DAL. Jefferies Financial Group lifted their price objective on shares of Delta Air Lines from $81.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. BNP Paribas Exane decreased their target price on shares of Delta Air Lines from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Evercore lifted their price target on shares of Delta Air Lines from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Delta Air Lines in a research report on Tuesday. Finally, Zacks Research upgraded shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Twenty-four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Moderate Buy” and an average price target of $93.60.

Delta Air Lines Stock Down 1.4%

Shares of DAL stock opened at $87.39 on Thursday. Delta Air Lines, Inc. has a 52-week low of $49.83 and a 52-week high of $95.68. The stock has a market cap of $57.41 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.27 and a beta of 1.29. The firm’s 50-day moving average is $80.25 and its 200-day moving average is $72.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.Delta Air Lines’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $0.46 earnings per share. Sell-side analysts predict that Delta Air Lines, Inc. will post 5.72 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.215 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.86 annualized dividend and a dividend yield of 1.0%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio is presently 10.93%.

Trending Headlines about Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Delta announced new “Basic Business” fares, expanding its premium-cabin pricing strategy with a lower-cost option that could help fill seats while preserving some pricing power. Delta launches ‘basic business’ fares without lounge access, seat selection
• Positive Sentiment: UBS said Delta’s second-quarter results should come in slightly above the top end of guidance, but noted the bigger catalyst will be management’s outlook for the third quarter and full year. Delta Air Lines outlook seen as key driver of Q2 earnings reaction, UBS says
• Positive Sentiment: Susquehanna raised its price target on Delta and maintained a positive view, reflecting continued optimism around the airline’s earnings power and premium positioning. Susquehanna Boosts Delta Air Lines (NYSE:DAL) Price Target to $108.00
• Neutral Sentiment: Delta’s stock is near recent highs and has had a sharp rally this year, so investors may be demanding strong Q3 guidance and not just an earnings beat to justify further upside. Delta Air Lines (DAL) Stock Near Highs Ahead of Q2 Earnings: Buy, Hold, or Sell?
• Negative Sentiment: Rising crude prices are pressuring airline stocks, including DAL, because higher jet-fuel costs can squeeze margins if fares do not rise enough to offset the increase. Delta Stock Faces Fuel-Cost Headwinds Following US Military Strikes Against Iran

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 69,304 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $68.15, for a total transaction of $4,723,067.60. Following the completion of the sale, the executive vice president owned 69,369 shares of the company’s stock, valued at $4,727,497.35. This trade represents a 49.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of Delta Air Lines stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the transaction, the executive vice president directly owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 149,635 shares of company stock worth $10,833,855. 0.80% of the stock is owned by company insiders.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.