Janney Montgomery Scott LLC Sells 16,892 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Janney Montgomery Scott LLC lessened its stake in Delta Air Lines, Inc. (NYSE:DALFree Report) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,670 shares of the transportation company’s stock after selling 16,892 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Delta Air Lines were worth $5,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DAL. Capital International Investors increased its position in Delta Air Lines by 8.8% in the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after buying an additional 1,689,053 shares during the last quarter. Capital World Investors increased its holdings in Delta Air Lines by 0.5% during the 4th quarter. Capital World Investors now owns 14,981,124 shares of the transportation company’s stock valued at $602,691,000 after purchasing an additional 79,818 shares during the period. Wellington Management Group LLP grew its holdings in shares of Delta Air Lines by 220.2% during the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after acquiring an additional 5,914,301 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Delta Air Lines by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,374,052 shares of the transportation company’s stock worth $336,908,000 after acquiring an additional 826,232 shares during the period. Finally, Royal London Asset Management Ltd. grew its stake in shares of Delta Air Lines by 27.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock worth $260,198,000 after buying an additional 1,376,221 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors.

Insider Transactions at Delta Air Lines

In related news, EVP Joanne D. Smith sold 4,846 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the sale, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Delta Air Lines news, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the sale, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the sale, the president now directly owns 217,584 shares in the company, valued at $10,672,495.20. The disclosure for this sale can be found here. Insiders have sold a total of 178,919 shares of company stock valued at $8,834,653 in the last ninety days. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Trading Down 0.1 %

Shares of Delta Air Lines stock opened at $46.86 on Thursday. The company has a fifty day simple moving average of $50.19 and a 200-day simple moving average of $45.48. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $53.86. The stock has a market cap of $30.24 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 0.69 and a beta of 1.35. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48.

Delta Air Lines (NYSE:DALGet Free Report) last posted its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $12.51 billion. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Delta Air Lines, Inc. will post 6.55 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. Delta Air Lines’s dividend payout ratio is 5.14%.

Wall Street Analyst Weigh In

DAL has been the topic of several analyst reports. Susquehanna upped their price objective on Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research report on Tuesday, April 9th. Jefferies Financial Group cut their price target on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Citigroup increased their price target on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. TD Cowen raised their price target on Delta Air Lines from $55.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $85.00 target price on shares of Delta Air Lines in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Delta Air Lines has an average rating of “Buy” and a consensus price target of $60.30.

Get Our Latest Analysis on DAL

About Delta Air Lines

(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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.

Further Reading

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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