Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Evergreen Capital Management LLC

Evergreen Capital Management LLC decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 31.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,781 shares of the transportation company’s stock after selling 37,108 shares during the quarter. Evergreen Capital Management LLC’s holdings in Delta Air Lines were worth $3,785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. boosted its holdings in Delta Air Lines by 1.6% in the fourth quarter. American International Group Inc. now owns 181,107 shares of the transportation company’s stock worth $7,286,000 after acquiring an additional 2,783 shares in the last quarter. First Hawaiian Bank purchased a new stake in Delta Air Lines during the 1st quarter worth approximately $749,000. Wells Fargo & Company MN increased its stake in Delta Air Lines by 7.0% during the 4th quarter. Wells Fargo & Company MN now owns 1,127,607 shares of the transportation company’s stock valued at $45,364,000 after purchasing an additional 73,936 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Delta Air Lines by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock worth $2,384,000 after buying an additional 1,362 shares during the last quarter. Finally, RFG Advisory LLC acquired a new stake in shares of Delta Air Lines during the first quarter worth $1,108,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Willie Cw Chiang purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was bought at an average price of $43.90 per share, with a total value of $439,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $878,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $47.16 on Tuesday. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $53.86. 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’s fifty day moving average price is $42.44 and its 200 day moving average price is $46.35. The company has a market capitalization of $30.43 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. Delta Air Lines’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $2.68 earnings per share. On average, research analysts predict that Delta Air Lines, Inc. will post 5.99 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, October 10th. Delta Air Lines’s payout ratio is 8.63%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DAL. Jefferies Financial Group cut their target price on 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. TD Cowen cut their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Sanford C. Bernstein reduced their price objective on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Finally, Citigroup upped their target price on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $61.52.

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.