International Assets Investment Management LLC Sells 338 Shares of Delta Air Lines, Inc. (NYSE:DAL)

International Assets Investment Management LLC trimmed its position in Delta Air Lines, Inc. (NYSE:DAL) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,264 shares of the transportation company’s stock after selling 338 shares during the period. International Assets Investment Management LLC’s holdings in Delta Air Lines were worth $543,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC acquired a new position in Delta Air Lines during the 4th quarter valued at about $27,000. Venturi Wealth Management LLC boosted its stake in shares of Delta Air Lines by 396.6% in the 4th 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 last quarter. Manchester Capital Management LLC boosted its stake in shares of 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 worth $32,000 after buying an additional 785 shares during the last quarter. Rise Advisors LLC boosted its stake in shares of 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 buying an additional 452 shares during the last quarter. Finally, Nordwand Advisors LLC purchased a new position in shares of Delta Air Lines in the 4th quarter worth approximately $40,000. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Stock Down 0.5 %

Shares of Delta Air Lines stock opened at $49.38 on Monday. The firm’s 50 day moving average price is $50.51 and its 200-day moving average price is $44.93. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $53.86. The company has a market cap of $31.87 billion, a P/E ratio of 6.35, a PEG ratio of 0.73 and a beta of 1.37.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same period last year, the business earned $0.25 EPS. Delta Air Lines’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 6.61 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s payout ratio is 5.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DAL. UBS Group started coverage on Delta Air Lines in a research note on Wednesday, March 20th. They issued a “buy” rating and a $59.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Delta Air Lines in a report on Thursday, April 11th. Susquehanna lifted their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a report on Tuesday, April 9th. Finally, HSBC initiated coverage on shares of Delta Air Lines in a report on Monday, May 13th. They issued a “buy” rating and a $72.80 price target on the stock. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $59.85.

Insider Activity

In related news, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction on 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 $5,879,618.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average cost of $49.50 per share, with a total value of $495,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $495,000. The disclosure for this purchase can be found here. Insiders sold a total of 178,919 shares of company stock valued at $8,834,653 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

About Delta Air Lines

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.