Delta Air Lines, Inc. (NYSE:DAL) Position Raised by Truist Financial Corp

Truist Financial Corp boosted its position in Delta Air Lines, Inc. (NYSE:DAL) by 20.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,211 shares of the transportation company’s stock after purchasing an additional 30,599 shares during the period. Truist Financial Corp’s holdings in Delta Air Lines were worth $8,502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at $31,000. Strategic Financial Concepts LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at about $36,000. Rise Advisors LLC lifted 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 valued at $39,000 after acquiring an additional 452 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines during the 2nd quarter valued at about $40,000. Finally, Quarry LP acquired a new position in shares of Delta Air Lines in the 2nd quarter worth approximately $41,000. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Price Performance

Shares of DAL opened at $49.28 on Friday. The business’s 50-day moving average is $43.35 and its 200-day moving average is $46.73. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The company has a market capitalization of $31.80 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 0.90 and a beta of 1.35. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week 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 the consensus estimate of $2.37 by ($0.01). The company had revenue of $15.41 billion during 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%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.68 EPS. Equities research analysts expect that Delta Air Lines, Inc. will post 6.18 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

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 given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.63%.

Insider Transactions at Delta Air Lines

In other news, Director Willie Cw Chiang purchased 10,000 shares of Delta Air Lines stock in a transaction dated Friday, July 12th. The stock was acquired at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $878,000. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on DAL shares. TD Cowen reduced their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company 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. Jefferies Financial Group boosted their target price on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Delta Air Lines presently has an average rating of “Buy” and an average target price of $63.62.

Delta Air Lines 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.