Investors Buy Shares of Delta Air Lines, Inc. (DAL) on Weakness

Traders bought shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading hours on Monday. $104.53 million flowed into the stock on the tick-up and $52.79 million flowed out of the stock on the tick-down, for a money net flow of $51.74 million into the stock. Of all companies tracked, Delta Air Lines had the 11th highest net in-flow for the day. Delta Air Lines traded down ($0.73) for the day and closed at $51.53

Several equities analysts have recently weighed in on the company. Cowen and Company lifted their price target on Delta Air Lines from $58.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Evercore ISI reiterated an “outperform” rating and issued a $66.00 price target on shares of Delta Air Lines in a research report on Friday, July 14th. Imperial Capital boosted their target price on Delta Air Lines from $52.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 11th. ValuEngine cut Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $60.00 target price on shares of Delta Air Lines in a research report on Thursday, July 13th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $60.56.

The firm has a 50 day moving average of $51.80 and a 200-day moving average of $49.44. The company has a market cap of $34.60 billion, a P/E ratio of 9.42 and a beta of 1.20. Delta Air Lines also was the target of some unusual options trading activity on Wednesday. Traders acquired 20,043 call options on the stock. This is an increase of approximately 109% compared to the typical volume of 9,579 call options.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.66 by $0.02. The firm had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $1.47 EPS. Analysts forecast that Delta Air Lines, Inc. will post $5.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio (DPR) is presently 16.10%.

In related news, President Glen W. Hauenstein sold 67,000 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the completion of the transaction, the president now owns 239,418 shares of the company’s stock, valued at approximately $13,203,902.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Craig M. Meynard sold 5,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $55.26, for a total transaction of $276,300.00. Following the transaction, the vice president now directly owns 7,437 shares of the company’s stock, valued at approximately $410,968.62. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 389,000 shares of company stock valued at $31,120 and have sold 126,831 shares valued at $6,703,732. Company insiders own 0.37% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after buying an additional 43,777,555 shares during the period. Winslow Capital Management LLC raised its stake in Delta Air Lines by 5,815,030.8% in the first quarter. Winslow Capital Management LLC now owns 4,535,802 shares of the transportation company’s stock worth $208,465,000 after buying an additional 4,535,724 shares during the period. Dimensional Fund Advisors LP raised its stake in Delta Air Lines by 85.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,039,445 shares of the transportation company’s stock worth $323,542,000 after buying an additional 3,245,791 shares during the period. Sound Shore Management Inc. CT acquired a new stake in Delta Air Lines during the second quarter worth about $158,224,000. Finally, TIAA CREF Investment Management LLC raised its stake in Delta Air Lines by 77.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock worth $288,312,000 after buying an additional 2,343,531 shares during the period. Institutional investors own 87.88% of the company’s stock.

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About Delta Air Lines

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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