Delta Air Lines, Inc. $DAL Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 29.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,270,241 shares of the transportation company’s stock after purchasing an additional 2,773,945 shares during the quarter. Bank of New York Mellon Corp’s holdings in Delta Air Lines were worth $815,726,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IFM Investors Pty Ltd increased its stake in Delta Air Lines by 0.5% during the 4th quarter. IFM Investors Pty Ltd now owns 28,167 shares of the transportation company’s stock worth $1,955,000 after buying an additional 144 shares during the period. Utah Retirement Systems lifted its holdings in Delta Air Lines by 0.3% during the 4th quarter. Utah Retirement Systems now owns 52,620 shares of the transportation company’s stock worth $3,652,000 after buying an additional 144 shares in the last quarter. First Financial Bank Trust Division boosted its position in Delta Air Lines by 3.3% in the 4th quarter. First Financial Bank Trust Division now owns 4,721 shares of the transportation company’s stock valued at $328,000 after buying an additional 150 shares during the period. HBK Sorce Advisory LLC boosted its position in Delta Air Lines by 2.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 6,022 shares of the transportation company’s stock valued at $454,000 after buying an additional 151 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Delta Air Lines by 2.4% in the fourth quarter. Larson Financial Group LLC now owns 6,472 shares of the transportation company’s stock worth $449,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Trading Up 0.8%

NYSE:DAL opened at $86.66 on Friday. Delta Air Lines, Inc. has a 1 year low of $50.44 and a 1 year high of $95.68. The stock has a market cap of $56.99 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42. The stock has a 50-day simple moving average of $82.28 and a 200-day simple moving average of $72.97.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company earned $2.10 EPS. As a group, analysts anticipate that Delta Air Lines, Inc. will post 6.61 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Thursday, July 9th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. Delta Air Lines’s dividend payout ratio is 14.26%.

Insider Buying and Selling

In related news, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total value of $2,036,000.00. Following the transaction, the executive vice president directly owned 95,025 shares of the company’s stock, valued at $7,738,836. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Allison C. Ausband sold 5,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the transaction, the executive vice president directly owned 133,854 shares in the company, valued at $10,574,466. This trade represents a 3.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 65,331 shares of company stock worth $5,036,638. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DAL. Evercore upped their price objective on Delta Air Lines from $85.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Seaport Research Partners lifted their target price on Delta Air Lines from $81.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Citigroup boosted their target price on Delta Air Lines from $106.00 to $110.00 and gave the stock a “buy” rating in a research note on Sunday. BNP Paribas Exane cut their price target on Delta Air Lines from $85.00 to $81.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Delta Air Lines in a research report on Tuesday, July 7th. Twenty-three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.40.

Key Stories Impacting Delta Air Lines

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

• Positive Sentiment: Delta is raising fares and keeping a higher baseline pricing structure, which should help protect margins if fuel costs stay elevated. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
• Positive Sentiment: Premium and corporate travel demand remains firm, supporting Delta’s revenue mix and pricing power. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
• Positive Sentiment: TD Cowen increased its price target on Delta Air Lines, signaling improved analyst confidence in the stock. Delta Air Lines (NYSE:DAL) Price Target Raised to $112.00 at TD Cowen
• Neutral Sentiment: Delta reported stronger revenue in the latest quarter, but net income fell from a year earlier, so the earnings update was mixed rather than uniformly positive. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
• Neutral Sentiment: Delta filed an omnibus shelf registration, which gives it flexibility to issue securities later, but does not by itself mean immediate dilution or financing activity. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
• Negative Sentiment: Higher jet fuel costs remain a headwind for the airline industry and could pressure Delta’s margins despite better pricing. United Airlines anticipates $6 billion in added fuel costs

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.