Delta Air Lines, Inc. (NYSE:DAL) EVP Sells $585,300.00 in Stock

Delta Air Lines, Inc. (NYSE:DAL) EVP Rahul D. Samant sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $58.53, for a total transaction of $585,300.00. Following the transaction, the executive vice president now directly owns 64,163 shares in the company, valued at $3,755,460.39. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $57.20 on Friday. The firm has a market cap of $36.91 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.35. The firm’s fifty day moving average is $48.68 and its 200-day moving average is $47.71. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. Delta Air Lines, Inc. has a 52 week low of $30.76 and a 52 week high of $59.09.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 EPS. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.12 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is presently 8.33%.

Hedge Funds Weigh In On Delta Air Lines

Hedge funds have recently bought and sold shares of the company. Senator Investment Group LP raised its stake in Delta Air Lines by 90.0% during the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after buying an additional 225,000 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in Delta Air Lines by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock worth $2,384,000 after buying an additional 1,362 shares during the last quarter. Norden Group LLC raised its stake in Delta Air Lines by 714.1% during the first quarter. Norden Group LLC now owns 112,048 shares of the transportation company’s stock worth $5,364,000 after buying an additional 98,285 shares during the last quarter. Inspire Investing LLC bought a new position in Delta Air Lines during the first quarter worth $907,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Delta Air Lines during the first quarter worth $1,309,000. Institutional investors own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DAL. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Bank of America lifted their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen decreased their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and a consensus target price of $65.40.

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.