Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Delta Air Lines, Inc. (NYSE:DAL) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,421,496 shares of the transportation company’s stock after selling 60,202 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.53% of Delta Air Lines worth $162,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Delta Air Lines during the 4th quarter worth about $27,000. Manchester Capital Management LLC boosted its position in Delta Air Lines by 26,166.7% during the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after acquiring an additional 785 shares during the last quarter. Rise Advisors LLC grew its stake in Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after acquiring an additional 452 shares during the period. Nordwand Advisors LLC acquired a new position in Delta Air Lines in the 4th quarter valued at $40,000. Finally, Unique Wealth Strategies LLC acquired a new position in Delta Air Lines in the 2nd quarter valued at $40,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, Director Willie Cw Chiang purchased 10,000 shares of Delta Air Lines stock in a transaction that occurred on Friday, July 12th. The stock was purchased at an average price of $43.90 per share, with a total value of $439,000.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $878,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $40.98 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. Delta Air Lines, Inc. has a 1-year low of $30.60 and a 1-year high of $53.86. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 5.90, a PEG ratio of 0.86 and a beta of 1.35. The business has a 50-day moving average of $43.82 and a 200-day moving average of $45.99.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. During the same quarter in the prior year, the company earned $2.68 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Delta Air Lines, Inc. will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 1.46%. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

Wall Street Analyst Weigh In

DAL has been the subject of a number of recent analyst reports. HSBC assumed coverage on Delta Air Lines in a research report on Monday, May 13th. They issued a “buy” rating and a $72.80 price objective for the company. TD Cowen dropped their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group decreased their target price on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Sanford C. Bernstein dropped their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. Finally, Citigroup lifted their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. One equities research 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 data from MarketBeat, the company has an average rating of “Buy” and an average price target of $60.70.

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.