First Financial Bank Trust Division Sells 377 Shares of Delta Air Lines, Inc. (NYSE:DAL)

First Financial Bank Trust Division trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 6.3% in the first quarter, HoldingsChannel reports. The fund owned 5,582 shares of the transportation company’s stock after selling 377 shares during the period. First Financial Bank Trust Division’s holdings in Delta Air Lines were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. MeadowBrook Investment Advisors LLC purchased a new position in shares of Delta Air Lines in the fourth quarter worth $27,000. Venturi Wealth Management LLC increased its stake in shares of Delta Air Lines by 396.6% in the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after buying an additional 575 shares during the period. Manchester Capital Management LLC increased its stake in shares of Delta Air Lines by 26,166.7% in the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after buying an additional 785 shares during the period. Nordwand Advisors LLC purchased a new position in shares of Delta Air Lines in the fourth quarter worth $40,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Delta Air Lines in the fourth quarter worth $42,000. 69.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DAL. Susquehanna lifted their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. Bank of America lifted their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Citigroup boosted their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $85.00 price objective on shares of Delta Air Lines in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and an average price target of $59.85.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the sale, the executive vice president now owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the sale, the executive vice president now owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the sale, the president now directly owns 217,584 shares of the company’s stock, valued at approximately $10,672,495.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,919 shares of company stock worth $8,834,653. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $49.58 on Wednesday. The stock has a market cap of $31.99 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.73 and a beta of 1.37. The firm’s 50-day moving average is $50.36 and its 200 day moving average is $44.69. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $53.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.41 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. Sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.61 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.81%. The ex-dividend date was Monday, May 13th. Delta Air Lines’s dividend payout ratio is currently 5.14%.

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.