NewEdge Advisors LLC Has $12.39 Million Stake in Delta Air Lines, Inc. $DAL

NewEdge Advisors LLC grew its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 24.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 132,293 shares of the transportation company’s stock after acquiring an additional 26,327 shares during the quarter. NewEdge Advisors LLC’s holdings in Delta Air Lines were worth $12,391,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in Delta Air Lines by 31.2% in the second quarter. IFP Advisors Inc now owns 11,276 shares of the transportation company’s stock worth $1,056,000 after purchasing an additional 2,679 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Delta Air Lines by 45.1% in the 2nd quarter. Baird Financial Group Inc. now owns 449,986 shares of the transportation company’s stock valued at $42,146,000 after buying an additional 139,799 shares during the period. Arizona State Retirement System increased its position in shares of Delta Air Lines by 6.1% in the 2nd quarter. Arizona State Retirement System now owns 47,092 shares of the transportation company’s stock valued at $4,411,000 after buying an additional 2,723 shares in the last quarter. West Family Investments Inc. bought a new stake in shares of Delta Air Lines in the 2nd quarter valued at $215,000. Finally, Waverly Advisors LLC raised its stake in Delta Air Lines by 12.6% during the 2nd quarter. Waverly Advisors LLC now owns 41,411 shares of the transportation company’s stock worth $3,879,000 after buying an additional 4,621 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Alain Bellemare sold 35,000 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $92.72, for a total value of $3,245,200.00. Following the sale, the executive vice president directly owned 95,025 shares in the company, valued at $8,810,718. This trade represents a 26.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Huerta sold 3,100 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $94.11, for a total transaction of $291,741.00. Following the completion of the sale, the director directly owned 32,525 shares in the company, valued at approximately $3,060,927.75. This represents a 8.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 356,726 shares of company stock valued at $33,081,037 over the last ninety days. Insiders own 0.80% of the company’s stock.

Delta Air Lines Stock Up 2.0%

DAL stock opened at $79.82 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35. The stock has a market capitalization of $52.49 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.08 and a beta of 1.29. The business has a 50-day moving average of $85.20 and a 200-day moving average of $77.20. Delta Air Lines, Inc. has a fifty-two week low of $55.03 and a fifty-two week high of $95.68.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same quarter last year, the firm earned $2.10 EPS. Delta Air Lines’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.23 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 Thursday, July 30th. Stockholders of record on Thursday, July 9th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.86 annualized dividend and a dividend yield of 1.1%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio (DPR) is 14.26%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DAL shares. Barclays reduced their target price on Delta Air Lines from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised their price target on Delta Air Lines from $85.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of Delta Air Lines in a report on Monday, August 3rd. Weiss Ratings upgraded Delta Air Lines from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Finally, Bank of America increased their target price on Delta Air Lines from $93.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Twenty-three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.84.

Delta Air Lines Profile

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.

Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.