Delta Air Lines, Inc. (NYSE:DAL) Shares Bought by DAVENPORT & Co LLC

Posted by Defense World Staff on Jul 19th, 2023

DAVENPORT & Co LLC grew its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,820 shares of the transportation company’s stock after purchasing an additional 690 shares during the quarter. DAVENPORT & Co LLC’s holdings in Delta Air Lines were worth $727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Candriam Luxembourg S.C.A. acquired a new position in shares of Delta Air Lines during the 1st quarter valued at about $502,000. Pacifica Partners Inc. boosted its position in shares of Delta Air Lines by 117.6% during the 1st quarter. Pacifica Partners Inc. now owns 740 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 400 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Delta Air Lines by 1,136.7% during the 1st quarter. Sound Income Strategies LLC now owns 742 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 682 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of Delta Air Lines during the 4th quarter valued at about $28,000. Finally, Sittner & Nelson LLC boosted its position in shares of Delta Air Lines by 200.0% during the 4th quarter. Sittner & Nelson LLC now owns 900 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 68.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Saturday. 22nd Century Group reaffirmed a “maintains” rating on shares of Delta Air Lines in a research report on Wednesday, June 28th. Evercore ISI upped their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Morgan Stanley upped their target price on shares of Delta Air Lines from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Delta Air Lines from $47.00 to $58.00 in a research report on Wednesday, June 28th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $56.38.

Insider Buying and Selling

In related news, EVP Joanne D. Smith sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $36.90, for a total value of $277,229.70. Following the completion of the transaction, the executive vice president now directly owns 107,782 shares of the company’s stock, valued at $3,977,155.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Joanne D. Smith sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $36.90, for a total value of $277,229.70. Following the completion of the transaction, the executive vice president now directly owns 107,782 shares of the company’s stock, valued at $3,977,155.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Taylor purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, April 26th. The stock was acquired at an average cost of $32.83 per share, with a total value of $164,150.00. Following the completion of the acquisition, the director now directly owns 25,360 shares of the company’s stock, valued at $832,568.80. The disclosure for this purchase can be found here. Insiders own 0.89% of the company’s stock.

Delta Air Lines Stock Up 3.4 %

DAL stock opened at $48.38 on Wednesday. The company’s 50 day moving average price is $41.08 and its 200 day moving average price is $37.91. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.41 and a current ratio of 0.46. Delta Air Lines, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $49.81. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.20 and a beta of 1.31.

Delta Air Lines (NYSE:DAL – Get Free Report) last released its earnings results on Thursday, July 13th. The transportation company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.28. Delta Air Lines had a net margin of 5.36% and a return on equity of 59.56%. The firm had revenue of $15.58 billion for the quarter, compared to analyst estimates of $14.44 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Delta Air Lines, Inc. will post 6.32 EPS for the current fiscal year.

Delta Air Lines Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Monday, July 17th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, July 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. Delta Air Lines’s payout ratio is 8.62%.

Delta Air Lines Profile

(Free Report)

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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.