Greenleaf Trust Sells 1,224 Shares of Delta Air Lines, Inc. $DAL

Greenleaf Trust lowered its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,989 shares of the transportation company’s stock after selling 1,224 shares during the quarter. Greenleaf Trust’s holdings in Delta Air Lines were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signature Resources Capital Management LLC bought a new position in Delta Air Lines in the 2nd quarter worth $25,000. Wealth Preservation Advisors LLC bought a new position in Delta Air Lines in the 1st quarter worth $31,000. Zions Bancorporation National Association UT bought a new position in Delta Air Lines in the 1st quarter worth $33,000. Hara Capital LLC bought a new position in Delta Air Lines in the 1st quarter worth $35,000. Finally, N.E.W. Advisory Services LLC bought a new position in Delta Air Lines in the 1st quarter worth $40,000. Institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling at Delta Air Lines

In other news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated 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 sale, the chief executive officer directly owned 632,823 shares in the company, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven M. Sear sold 18,000 shares of Delta Air Lines stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the transaction, the executive vice president directly owned 97,505 shares of the company’s stock, valued at $5,456,379.80. This represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock worth $7,663,496 in the last 90 days. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on DAL. Morgan Stanley lifted their target price on shares of Delta Air Lines from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. UBS Group set a $72.00 price target on shares of Delta Air Lines in a research report on Friday, July 11th. Seaport Global Securities raised their price target on shares of Delta Air Lines from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. HSBC raised their price target on shares of Delta Air Lines from $64.00 to $69.20 in a research report on Friday, July 11th. Finally, Dbs Bank raised their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Delta Air Lines has an average rating of “Buy” and an average price target of $67.69.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $57.05 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. The firm’s 50-day simple moving average is $58.18 and its 200-day simple moving average is $51.11. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The firm has a market cap of $37.25 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 1.70 and a beta of 1.50.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share 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 analyst estimates of $16.16 billion. During the same period in the previous year, the business earned $2.36 EPS. The firm’s revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 16th. Delta Air Lines’s payout ratio is 10.87%.

Delta Air Lines 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.