KMG Fiduciary Partners LLC Sells 47,634 Shares of Delta Air Lines, Inc. $DAL

KMG Fiduciary Partners LLC trimmed its stake in Delta Air Lines, Inc. (NYSE:DAL) by 55.6% during the second quarter, Holdings Channel reports. The fund owned 38,083 shares of the transportation company’s stock after selling 47,634 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Delta Air Lines were worth $3,567,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised its position in shares of Delta Air Lines by 4.4% in the fourth quarter. Capital International Investors now owns 24,211,101 shares of the transportation company’s stock valued at $1,680,249,000 after purchasing an additional 1,012,265 shares during the period. State Street Corp boosted its holdings in shares of Delta Air Lines by 0.7% during the 4th quarter. State Street Corp now owns 23,163,644 shares of the transportation company’s stock worth $1,607,557,000 after buying an additional 165,729 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Delta Air Lines by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company’s stock worth $1,215,766,000 after buying an additional 202,865 shares during the period. Wellington Management Group LLP grew its stake in Delta Air Lines by 137.4% in the 4th quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company’s stock valued at $958,538,000 after buying an additional 7,994,004 shares during the last quarter. Finally, Morgan Stanley grew its stake in Delta Air Lines by 0.5% in the 4th quarter. Morgan Stanley now owns 12,310,804 shares of the transportation company’s stock valued at $854,370,000 after buying an additional 56,455 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DAL. UBS Group boosted their target price on shares of Delta Air Lines from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Weiss Ratings raised Delta Air Lines from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. TD Cowen lifted their price objective on Delta Air Lines from $106.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Argus set a $105.00 price objective on Delta Air Lines in a research report on Tuesday, July 14th. Finally, Barclays increased their target price on Delta Air Lines from $85.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Twenty-three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Delta Air Lines has a consensus rating of “Moderate Buy” and an average target price of $100.40.

Delta Air Lines Stock Down 2.6%

Shares of DAL stock opened at $88.99 on Tuesday. The stock has a market cap of $58.52 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31. Delta Air Lines, Inc. has a one year low of $53.12 and a one year high of $95.68. The stock has a fifty day moving average price of $86.62 and a 200 day moving average price of $75.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The firm had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. Analysts predict that Delta Air Lines, Inc. will post 6.54 earnings per share for the current year.

Delta Air Lines Increases Dividend

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

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, Director David G. Dewalt sold 31,756 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $90.85, for a total transaction of $2,885,032.60. Following the completion of the transaction, the director owned 22,358 shares in the company, valued at $2,031,224.30. This trade represents a 58.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward H. Bastian sold 206,510 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total value of $19,164,128.00. Following the completion of the sale, the chief executive officer directly owned 1,363,448 shares in the company, valued at approximately $126,527,974.40. This represents a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 401,436 shares of company stock valued at $36,617,497. Corporate insiders own 0.80% of the company’s stock.

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.