Parallel Advisors LLC Increases Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Parallel Advisors LLC raised its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 5.8% in the second quarter, Holdings Channel reports. The institutional investor owned 8,844 shares of the transportation company’s stock after buying an additional 488 shares during the quarter. Parallel Advisors LLC’s holdings in Delta Air Lines were worth $420,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in shares of Delta Air Lines in the second quarter worth $36,000. Rise Advisors LLC grew its holdings in shares of Delta Air Lines by 122.5% in the first 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. Unique Wealth Strategies LLC bought a new stake in shares of Delta Air Lines in the second quarter worth $40,000. Richard W. Paul & Associates LLC grew its holdings in shares of Delta Air Lines by 68.7% in the second quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after acquiring an additional 357 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in shares of Delta Air Lines in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL opened at $46.68 on Wednesday. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 6.72, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average price of $42.25 and a 200-day moving average price of $46.21. Delta Air Lines, Inc. has a twelve month low of $30.60 and a twelve month high of $53.86.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data 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). The business had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $2.68 EPS. As a group, equities research analysts predict that Delta Air Lines, Inc. will post 5.99 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were 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 of this dividend was Tuesday, July 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. Delta Air Lines’s dividend payout ratio is 8.63%.

Wall Street Analyst Weigh In

DAL has been the subject of several research analyst reports. Citigroup lifted their price objective on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Sanford C. Bernstein cut their price objective on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, July 12th. Jefferies Financial Group cut their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, TD Cowen cut their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One 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 stock. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $61.52.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, Director Willie Cw Chiang acquired 10,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 20,000 shares in the company, valued at approximately $878,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

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.