SVB Wealth LLC Makes New Investment in Delta Air Lines, Inc. $DAL

SVB Wealth LLC purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, HoldingsChannel reports. The institutional investor purchased 26,224 shares of the transportation company’s stock, valued at approximately $1,290,000.

A number of other hedge funds also recently added to or reduced their stakes in DAL. Foundations Investment Advisors LLC boosted its stake in Delta Air Lines by 2.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 7,844 shares of the transportation company’s stock valued at $386,000 after purchasing an additional 196 shares during the last quarter. JT Stratford LLC boosted its position in shares of Delta Air Lines by 1.2% during the first quarter. JT Stratford LLC now owns 16,403 shares of the transportation company’s stock valued at $715,000 after buying an additional 200 shares during the last quarter. Nwam LLC increased its holdings in Delta Air Lines by 3.1% in the 2nd quarter. Nwam LLC now owns 7,042 shares of the transportation company’s stock worth $377,000 after buying an additional 212 shares in the last quarter. First Horizon Advisors Inc. raised its position in Delta Air Lines by 26.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,028 shares of the transportation company’s stock worth $51,000 after buying an additional 218 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in Delta Air Lines by 14.7% during the 2nd quarter. Sound Income Strategies LLC now owns 1,911 shares of the transportation company’s stock valued at $94,000 after acquiring an additional 245 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $67.31 on Tuesday. The firm has a fifty day moving average price of $59.93 and a 200-day moving average price of $56.51. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The stock has a market cap of $43.95 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.37. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98.

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

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, October 16th. Delta Air Lines’s dividend payout ratio (DPR) is 10.56%.

Insider Buying and Selling

In other news, SVP William C. Carroll sold 14,010 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the sale, the senior vice president owned 15,816 shares in the company, valued at $968,730. This trade represents a 46.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the transaction, the executive vice president owned 81,109 shares of the company’s stock, valued at approximately $5,055,523.97. This represents a 22.33% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Dbs Bank upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Sanford C. Bernstein boosted their target price on shares of Delta Air Lines from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Jefferies Financial Group dropped their price target on Delta Air Lines from $74.00 to $72.00 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Rothschild & Co Redburn lifted their price objective on Delta Air Lines from $65.00 to $72.00 in a report on Tuesday, October 14th. Finally, Cowen reissued a “buy” rating on shares of Delta Air Lines in a report on Thursday. One analyst has rated the stock with a Strong Buy rating and twenty-two have assigned a Buy rating to the company. According to data from MarketBeat, Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $73.40.

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.