Insider Selling: Delta Air Lines, Inc. (DAL) CEO Sells 20,000 Shares of Stock
Delta Air Lines, Inc. (NYSE:DAL) CEO Edward H. Bastian sold 20,000 shares of Delta Air Lines stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $52.79, for a total transaction of $1,055,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Delta Air Lines, Inc. (NYSE:DAL) traded down $0.86 during mid-day trading on Friday, reaching $52.06. 8,853,091 shares of the company’s stock traded hands, compared to its average volume of 7,803,182. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. Delta Air Lines, Inc. has a 12-month low of $43.81 and a 12-month high of $55.75. The company has a market capitalization of $37,120.00, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.53 by $0.04. The business had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 earnings per share. equities research analysts predict that Delta Air Lines, Inc. will post 5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.22 annualized dividend and a dividend yield of 2.34%. Delta Air Lines’s dividend payout ratio is currently 24.45%.
A number of analysts recently issued reports on the stock. Imperial Capital upgraded shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 price target for the company in a research note on Thursday, October 12th. Cowen lifted their price target on shares of Delta Air Lines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, October 12th. Vetr lowered shares of Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 price target for the company. in a research note on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $57.00 price target (up previously from $56.00) on shares of Delta Air Lines in a research note on Wednesday, October 4th. Finally, BidaskClub lowered shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $63.39.
Several institutional investors have recently added to or reduced their stakes in DAL. Boston Advisors LLC grew its position in shares of Delta Air Lines by 160.4% during the second quarter. Boston Advisors LLC now owns 13,592 shares of the transportation company’s stock worth $730,000 after acquiring an additional 8,372 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Delta Air Lines by 32.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 31,970 shares of the transportation company’s stock worth $1,718,000 after purchasing an additional 7,920 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Delta Air Lines by 22.5% in the second quarter. Great West Life Assurance Co. Can now owns 277,465 shares of the transportation company’s stock worth $14,903,000 after purchasing an additional 50,902 shares during the period. Rothschild Asset Management Inc. lifted its holdings in Delta Air Lines by 2.0% in the second quarter. Rothschild Asset Management Inc. now owns 1,229,421 shares of the transportation company’s stock worth $66,069,000 after purchasing an additional 24,291 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its holdings in Delta Air Lines by 0.5% in the second quarter. Coronation Fund Managers Ltd. now owns 85,092 shares of the transportation company’s stock worth $4,573,000 after purchasing an additional 412 shares during the period. Institutional investors and hedge funds own 85.22% of the company’s stock.
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Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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