Delta Air Lines, Inc. (NYSE:DAL) Stake Lessened by Raymond James Financial Services Advisors Inc.

Posted by Defense World Staff on May 15th, 2023

Raymond James Financial Services Advisors Inc. lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL – Get Rating) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,465 shares of the transportation company’s stock after selling 28,813 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.06% of Delta Air Lines worth $12,995,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Delta Air Lines by 153.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,028 shares of the transportation company’s stock worth $29,000 after acquiring an additional 623 shares during the last quarter. Ten Capital Wealth Advisors LLC acquired a new position in Delta Air Lines during the third quarter worth $29,000. Sittner & Nelson LLC increased its position in Delta Air Lines by 200.0% during the fourth quarter. Sittner & Nelson LLC now owns 900 shares of the transportation company’s stock worth $30,000 after buying an additional 600 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Delta Air Lines during the fourth quarter worth $32,000. Finally, WFA of San Diego LLC acquired a new position in Delta Air Lines during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 66.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on DAL shares. Barclays increased their target price on shares of Delta Air Lines from $44.00 to $48.00 in a research report on Friday, March 10th. JPMorgan Chase & Co. reduced their target price on shares of Delta Air Lines from $81.00 to $69.00 in a research note on Monday, May 8th. StockNews.com cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday. Raymond James raised their price target on shares of Delta Air Lines from $53.00 to $54.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 3rd. Finally, Bank of America cut their price target on shares of Delta Air Lines from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, April 14th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.38.

Delta Air Lines Stock Performance

NYSE DAL opened at $33.23 on Monday. Delta Air Lines, Inc. has a 52-week low of $27.20 and a 52-week high of $42.45. The company has a 50-day simple moving average of $34.29 and a 200 day simple moving average of $35.39. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.42 and a current ratio of 0.47. The company has a market capitalization of $21.36 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.18 and a beta of 1.25.

Delta Air Lines (NYSE:DAL – Get Rating) last posted its earnings results on Thursday, April 13th. The transportation company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). The business had revenue of $12.76 billion during the quarter, compared to analysts’ expectations of $12.25 billion. Delta Air Lines had a return on equity of 56.49% and a net margin of 3.51%. Delta Air Lines’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.23) EPS. On average, research analysts predict that Delta Air Lines, Inc. will post 5.39 EPS for the current year.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Rahul D. Samant sold 13,124 shares of the company’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $38.77, for a total value of $508,817.48. Following the completion of the sale, the executive vice president now owns 57,383 shares of the company’s stock, valued at approximately $2,224,738.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Rahul D. Samant sold 13,124 shares of the company’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $38.77, for a total value of $508,817.48. Following the completion of the sale, the executive vice president now owns 57,383 shares of the company’s stock, valued at approximately $2,224,738.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Glen W. Hauenstein sold 5,000 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $37.87, for a total transaction of $189,350.00. Following the sale, the president now directly owns 278,712 shares of the company’s stock, valued at approximately $10,554,823.44. The disclosure for this sale can be found here. Over the last three months, insiders purchased 15,000 shares of company stock worth $503,250 and sold 27,970 shares worth $1,057,049. 0.84% of the stock is currently owned by company insiders.

Delta Air Lines Profile

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Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment provides jet fuel to the airline segment.