Independent Advisor Alliance Sells 7,308 Shares of Delta Air Lines, Inc. $DAL

Independent Advisor Alliance cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,293 shares of the transportation company’s stock after selling 7,308 shares during the period. Independent Advisor Alliance’s holdings in Delta Air Lines were worth $3,213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. AlphaQuest LLC increased its position in shares of Delta Air Lines by 90.6% during the third quarter. AlphaQuest LLC now owns 444 shares of the transportation company’s stock worth $25,000 after acquiring an additional 211 shares during the period. Accredited Wealth Management LLC increased its position in shares of Delta Air Lines by 1,983.3% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock worth $28,000 after acquiring an additional 476 shares during the period. SWAN Capital LLC increased its position in shares of Delta Air Lines by 1,016.0% during the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock worth $32,000 after acquiring an additional 508 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Delta Air Lines during the fourth quarter worth approximately $34,000. Finally, Cornerstone Planning Group LLC increased its position 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 acquiring an additional 429 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Trading Up 0.5%

Shares of NYSE:DAL opened at $71.08 on Thursday. Delta Air Lines, Inc. has a 12-month low of $45.28 and a 12-month high of $76.39. The business’s fifty day simple moving average is $66.67 and its 200-day simple moving average is $66.59. The company has a market capitalization of $46.70 billion, a PE ratio of 10.36, a P/E/G ratio of 1.02 and a beta of 1.25. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. As a group, equities research analysts predict that Delta Air Lines, Inc. will post 5.26 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, May 14th. This represents a $0.75 dividend on an annualized basis and a yield of 1.1%. Delta Air Lines’s payout ratio is currently 10.93%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DAL. Bank of America decreased their target price on Delta Air Lines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. BNP Paribas Exane decreased their target price on Delta Air Lines from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Wolfe Research decreased their target price on Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Evercore reaffirmed an “outperform” rating and set a $85.00 target price on shares of Delta Air Lines in a research report on Friday, April 17th. Finally, Rothschild & Co Redburn cut their target price on shares of Delta Air Lines from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Delta Air Lines has a consensus rating of “Moderate Buy” and an average price target of $79.76.

Insiders Place Their Bets

In other Delta Air Lines news, EVP John E. Laughter sold 69,304 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $68.15, for a total value of $4,723,067.60. Following the completion of the transaction, the executive vice president directly owned 69,369 shares in the company, valued at approximately $4,727,497.35. The trade was a 49.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 20,621 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $72.75, for a total transaction of $1,500,177.75. Following the sale, the executive vice president directly owned 120,025 shares of the company’s stock, valued at $8,731,818.75. The trade was a 14.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 204,925 shares of company stock worth $14,323,395. 0.80% of the stock is owned by corporate insiders.

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.