Sugarloaf Wealth Management LLC Boosts Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Sugarloaf Wealth Management LLC grew its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 52.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,428 shares of the transportation company’s stock after buying an additional 831 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Delta Air Lines were worth $123,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at approximately $31,000. Strategic Financial Concepts LLC purchased a new stake in Delta Air Lines during the 2nd quarter valued at $36,000. Rise Advisors LLC grew its holdings 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 last quarter. Unique Wealth Strategies LLC bought a new stake in Delta Air Lines in the 2nd quarter worth $40,000. Finally, Quarry LP purchased a new position in shares of Delta Air Lines in the second quarter valued at about $41,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Up 2.4 %

Delta Air Lines stock opened at $50.64 on Wednesday. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The business’s fifty day moving average is $43.48 and its 200 day moving average is $46.76. The stock has a market capitalization of $32.68 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. 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 (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. During the same period in the previous year, the business earned $2.68 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 6.18 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is 8.63%.

Analysts Set New Price Targets

DAL has been the subject of several research analyst reports. Jefferies Financial Group raised their price objective on shares of Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein raised their price objective on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, TD Cowen lowered their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. 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. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $63.89.

Insiders Place Their Bets

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction on Friday, July 12th. The stock was acquired at an average cost 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 in the company, valued at approximately $878,000. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.