Ellis Investment Partners LLC Has $1.31 Million Position in Delta Air Lines, Inc. $DAL

Ellis Investment Partners LLC boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 2.5% in the second quarter, Holdings Channel reports. The institutional investor owned 26,530 shares of the transportation company’s stock after buying an additional 637 shares during the period. Ellis Investment Partners LLC’s holdings in Delta Air Lines were worth $1,305,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Delta Air Lines by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company’s stock valued at $3,179,508,000 after buying an additional 514,264 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Delta Air Lines in the 2nd quarter valued at approximately $386,364,000. Invesco Ltd. raised its holdings in Delta Air Lines by 30.2% in the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock valued at $315,788,000 after buying an additional 1,681,464 shares during the last quarter. AQR Capital Management LLC raised its holdings in Delta Air Lines by 149.9% in the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock valued at $246,487,000 after buying an additional 3,577,489 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Delta Air Lines by 66.9% in the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company’s stock valued at $257,918,000 after buying an additional 2,370,795 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DAL shares. Evercore ISI raised their price objective on shares of Delta Air Lines from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Seaport Global Securities raised their price objective on shares of Delta Air Lines from $69.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Wolfe Research raised their price objective on shares of Delta Air Lines from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. HSBC raised their price target on shares of Delta Air Lines from $69.20 to $73.70 and gave the stock a “buy” rating in a report on Friday. Finally, BNP Paribas Exane raised their price target on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $70.11.

Delta Air Lines Stock Down 3.4%

Delta Air Lines stock opened at $57.56 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98. The firm has a 50 day moving average price of $58.65 and a two-hundred day moving average price of $51.60. The firm has a market cap of $37.59 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.48 and a beta of 1.50.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The company had revenue of $8.40 billion during the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. Equities analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. Delta Air Lines’s payout ratio is currently 10.56%.

Insider Activity at Delta Air Lines

In other news, EVP Steven M. Sear sold 18,000 shares of Delta Air Lines stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total value of $1,007,280.00. Following the completion of the sale, the executive vice president owned 97,505 shares in the company, valued at $5,456,379.80. The trade was a 15.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the completion of the sale, the chief executive officer owned 632,823 shares of the company’s stock, valued at $35,615,278.44. This represents a 5.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,050 shares of company stock worth $5,139,795. 0.96% of the stock is owned by insiders.

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.