Douglas Lane & Associates LLC Has $96.72 Million Stake in Delta Air Lines, Inc. $DAL

Douglas Lane & Associates LLC decreased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,966,588 shares of the transportation company’s stock after selling 108,993 shares during the period. Delta Air Lines accounts for 1.4% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 16th biggest holding. Douglas Lane & Associates LLC owned approximately 0.30% of Delta Air Lines worth $96,717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC lifted its position in Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock worth $35,000 after acquiring an additional 179 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Delta Air Lines during the 1st quarter worth $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Delta Air Lines during the first quarter valued at about $33,000. Hara Capital LLC acquired a new position in shares of Delta Air Lines during the first quarter valued at about $35,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Delta Air Lines during the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the sale, the executive vice president directly owned 131,731 shares of the company’s stock, valued at $7,318,974.36. This represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael P. Huerta sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the sale, the director directly owned 33,245 shares in the company, valued at $2,017,971.50. This trade represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock valued at $7,663,496 over the last three months. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on DAL shares. Bernstein Bank upped their price objective on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, July 11th. The Goldman Sachs Group upped their target price on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Delta Air Lines from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Citigroup upped their target price on shares of Delta Air Lines from $62.00 to $65.50 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, BNP Paribas Exane upped their price objective on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $66.93.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $59.94 on Friday. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $57.35 and its two-hundred day moving average price is $50.54. The stock has a market capitalization of $39.14 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 1.88 and a beta of 1.51.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The business had revenue of $15.51 billion for the quarter, compared to analysts’ expectations of $16.16 billion. During the same period in the prior year, the firm earned $2.36 earnings per share. Delta Air Lines’s revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st were paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, July 31st. Delta Air Lines’s payout ratio is currently 10.87%.

Delta Air Lines Company Profile

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.