Atria Wealth Solutions Inc. Trims Position in Delta Air Lines, Inc. (NYSE:DAL)

Atria Wealth Solutions Inc. cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 23.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,648 shares of the transportation company’s stock after selling 3,176 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Delta Air Lines were worth $464,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after purchasing an additional 431 shares during the period. Continuum Advisory LLC grew its stake in shares of Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock worth $35,000 after purchasing an additional 179 shares during the period. Hara Capital LLC acquired a new stake in shares of Delta Air Lines during the 1st quarter worth approximately $35,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Delta Air Lines during the 1st quarter worth approximately $40,000. Finally, Private Wealth Management Group LLC grew its stake in shares of Delta Air Lines by 104.8% during the 1st quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company’s stock worth $43,000 after purchasing an additional 507 shares during the period. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Edward H. Bastian sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the sale, the chief executive officer directly owned 632,823 shares of the company’s stock, valued at approximately $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven M. Sear sold 18,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total value of $1,007,280.00. Following the completion of the sale, the executive vice president directly owned 97,505 shares of the company’s stock, valued at $5,456,379.80. The trade was a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,973 shares of company stock valued at $7,511,746. 0.88% of the stock is owned by company insiders.

Delta Air Lines Stock Down 0.7%

DAL stock opened at $59.02 on Friday. The company’s 50 day moving average price is $52.46 and its 200 day moving average price is $51.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The firm has a market capitalization of $38.54 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 1.86 and a beta of 1.56.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The firm had revenue of $15,507,000 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same period in the prior year, the firm earned $2.36 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines’s dividend payout ratio is currently 10.87%.

Analysts Set New Price Targets

DAL has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Jefferies Financial Group lifted their price target on shares of Delta Air Lines from $56.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, July 14th. Bernstein Bank lifted their price target on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, July 11th. Raymond James Financial lifted their price target on shares of Delta Air Lines from $60.00 to $68.00 in a research note on Friday, July 11th. Finally, Susquehanna set a $65.00 price target on shares of Delta Air Lines and gave the company a “positive” rating in a research note on Friday, July 11th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.21.

About Delta Air Lines

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.