Independent Financial Group LLC Invests $753,000 in Delta Air Lines, Inc. $DAL

Independent Financial Group LLC acquired a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,330 shares of the transportation company’s stock, valued at approximately $753,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. purchased a new stake in Delta Air Lines during the 4th quarter valued at about $31,000. SWAN Capital LLC raised its stake in shares of Delta Air Lines by 1,016.0% in the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock worth $32,000 after purchasing an additional 508 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Delta Air Lines in the fourth quarter worth about $34,000. Cornerstone Planning Group LLC lifted its holdings in shares of Delta Air Lines by 451.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after purchasing an additional 429 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in shares of Delta Air Lines during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DAL. Evercore increased their price target on shares of Delta Air Lines from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. TD Cowen lifted their price objective on shares of Delta Air Lines from $106.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Wolfe Research dropped their price objective on shares of Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Seaport Research Partners increased their price objective on shares of Delta Air Lines from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Finally, Citigroup raised their target price on shares of Delta Air Lines from $106.00 to $110.00 and gave the stock a “buy” rating in a report on Sunday, July 12th. Twenty-three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.40.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 25,000 shares of the firm’s stock in a transaction dated 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 approximately $7,738,836. This trade represents a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Allison C. Ausband sold 5,000 shares of Delta Air Lines stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total value of $395,000.00. Following the completion of the sale, the executive vice president owned 133,854 shares in the company, valued at approximately $10,574,466. The trade was a 3.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,331 shares of company stock valued at $5,036,638 in the last three months. Corporate insiders own 0.80% of the company’s stock.

Delta Air Lines Trading Up 0.1%

Shares of DAL stock opened at $84.61 on Wednesday. Delta Air Lines, Inc. has a 1-year low of $50.44 and a 1-year high of $95.68. The company has a market cap of $55.64 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35. The stock has a 50 day simple moving average of $83.04 and a 200-day simple moving average of $73.29.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The firm had revenue of $17.67 billion for the quarter, compared to analysts’ expectations of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. On average, equities research analysts expect that Delta Air Lines, Inc. will post 6.66 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.0%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, July 9th. Delta Air Lines’s dividend payout ratio (DPR) is 14.26%.

Delta Air Lines Company Profile

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.