NewEdge Advisors LLC Acquires 53,581 Shares of Delta Air Lines, Inc. $DAL

NewEdge Advisors LLC grew its stake in Delta Air Lines, Inc. (NYSE:DAL) by 102.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,966 shares of the transportation company’s stock after buying an additional 53,581 shares during the quarter. NewEdge Advisors LLC’s holdings in Delta Air Lines were worth $7,045,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Lloyd Advisory Services LLC. bought a new stake in Delta Air Lines during the 4th quarter worth approximately $31,000. SWAN Capital LLC boosted its position 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 period. Camelot Portfolios LLC purchased a new stake in shares of Delta Air Lines in the fourth quarter worth $34,000. Cornerstone Planning Group LLC increased its stake in shares of Delta Air Lines by 451.6% in 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 in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Delta Air Lines during the 3rd quarter valued at $35,000. Institutional investors own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Steven M. Sear sold 40,460 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the completion of the sale, the executive vice president directly owned 104,404 shares of the company’s stock, valued at approximately $9,766,994.20. This represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edward H. Bastian sold 206,510 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total transaction of $19,164,128.00. Following the sale, the chief executive officer directly owned 1,363,448 shares of the company’s stock, valued at $126,527,974.40. The trade was a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 401,436 shares of company stock valued at $36,617,497 over the last 90 days. Company insiders own 0.80% of the company’s stock.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $88.99 on Tuesday. The stock’s fifty day moving average is $86.62 and its two-hundred day moving average is $75.07. The company has a market capitalization of $58.52 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. Delta Air Lines, Inc. has a 52 week low of $53.12 and a 52 week high of $95.68.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $17.67 billion for the quarter, compared to the consensus estimate of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 EPS. As a group, analysts expect that Delta Air Lines, Inc. will post 6.54 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were paid a dividend of $0.215 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. Delta Air Lines’s dividend payout ratio (DPR) is currently 14.26%.

Wall Street Analysts Forecast Growth

DAL has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Delta Air Lines from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Evercore increased their target price on Delta Air Lines from $85.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. BNP Paribas Exane decreased their target price on Delta Air Lines from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Benchmark reissued a “buy” rating on shares of Delta Air Lines in a report on Wednesday, July 8th. Finally, Wells Fargo & Company upped their price target on Delta Air Lines from $75.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Twenty-three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.40.

About Delta Air Lines

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.