RDA Financial Network Lowers Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

RDA Financial Network cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 4.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,406 shares of the transportation company’s stock after selling 260 shares during the quarter. RDA Financial Network’s holdings in Delta Air Lines were worth $259,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC purchased a new stake in Delta Air Lines during the first quarter worth $1,108,000. BTC Capital Management Inc. purchased a new position in Delta Air Lines during the first quarter valued at $639,000. Red Spruce Capital LLC lifted its holdings in Delta Air Lines by 3.2% during the first quarter. Red Spruce Capital LLC now owns 48,756 shares of the transportation company’s stock valued at $2,334,000 after purchasing an additional 1,520 shares in the last quarter. Wedmont Private Capital lifted its holdings in Delta Air Lines by 5.1% during the first quarter. Wedmont Private Capital now owns 7,941 shares of the transportation company’s stock valued at $376,000 after purchasing an additional 386 shares in the last quarter. Finally, Alaska Permanent Fund Corp lifted its holdings in Delta Air Lines by 4.8% during the first quarter. Alaska Permanent Fund Corp now owns 62,688 shares of the transportation company’s stock valued at $3,001,000 after purchasing an additional 2,894 shares in the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of Delta Air Lines in a report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective on the stock. HSBC started coverage on shares of Delta Air Lines in a report on Monday, May 13th. They set a “buy” rating and a $72.80 price objective on the stock. Bank of America raised their price target 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 raised their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Delta Air Lines presently has an average rating of “Buy” and a consensus target price of $59.85.

Delta Air Lines Price Performance

Shares of DAL opened at $49.51 on Monday. The firm has a 50-day simple moving average of $50.51 and a two-hundred day simple moving average of $44.93. 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, Inc. has a 1-year low of $30.60 and a 1-year high of $53.86. The stock has a market cap of $31.95 billion, a PE ratio of 6.35, a P/E/G ratio of 0.73 and a beta of 1.37.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business had revenue of $13.75 billion during the quarter, compared to analyst estimates of $12.51 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Delta Air Lines, Inc. will post 6.61 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be paid a $0.15 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Insider Buying and Selling

In related news, President Glen W. Hauenstein sold 100,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the transaction, the president now owns 217,584 shares in the company, valued at $10,672,495.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Joanne D. Smith sold 4,846 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the completion of the transaction, the executive vice president now owns 112,421 shares in the company, valued at $5,879,618.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the sale, the president now 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. Insiders sold 178,919 shares of company stock worth $8,834,653 over the last 90 days. 0.96% of the stock is owned by insiders.

Delta Air Lines Company 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.