Institute for Wealth Management LLC. Increases Position in Delta Air Lines, Inc. (NYSE:DAL)

Institute for Wealth Management LLC. lifted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,041 shares of the transportation company’s stock after buying an additional 354 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Delta Air Lines were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DAL. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Delta Air Lines in the fourth quarter valued at about $27,000. Manchester Capital Management LLC lifted its holdings in Delta Air Lines by 26,166.7% in the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 785 shares in the last quarter. Rise Advisors LLC boosted its stake in Delta Air Lines by 122.5% during the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares during the last quarter. Nordwand Advisors LLC purchased a new stake in shares of Delta Air Lines during the fourth quarter worth $40,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In other Delta Air Lines news, Director Willie Cw Chiang acquired 10,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were bought at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $878,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Up 3.1 %

DAL opened at $41.38 on Monday. The business’s 50-day simple moving average is $43.99 and its 200-day simple moving average is $45.98. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The company has a market cap of $26.70 billion, a P/E ratio of 5.95, a PEG ratio of 0.86 and a beta of 1.35. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $15.45 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. Delta Air Lines’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect 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 given a dividend of $0.15 per share. The ex-dividend date was Tuesday, July 30th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.45%. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DAL shares. Jefferies Financial Group lowered their price target 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. HSBC started coverage on Delta Air Lines in a research report on Monday, May 13th. They set a “buy” rating and a $72.80 price objective on the stock. TD Cowen dropped their target price 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. Citigroup lifted their price target on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Sanford C. Bernstein lowered their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.