Federated Hermes Inc. Sells 123,493 Shares of Delta Air Lines, Inc. $DAL

Federated Hermes Inc. reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 27.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,363 shares of the transportation company’s stock after selling 123,493 shares during the period. Federated Hermes Inc. owned approximately 0.05% of Delta Air Lines worth $16,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its position in Delta Air Lines by 2.6% during the second quarter. Foundations Investment Advisors LLC now owns 7,844 shares of the transportation company’s stock worth $386,000 after buying an additional 196 shares in the last quarter. JT Stratford LLC boosted its position in shares of Delta Air Lines by 1.2% during the 1st quarter. JT Stratford LLC now owns 16,403 shares of the transportation company’s stock valued at $715,000 after acquiring an additional 200 shares during the last quarter. Nwam LLC grew its holdings in shares of Delta Air Lines by 3.1% during the second quarter. Nwam LLC now owns 7,042 shares of the transportation company’s stock worth $377,000 after purchasing an additional 212 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Delta Air Lines by 26.9% in the second quarter. First Horizon Advisors Inc. now owns 1,028 shares of the transportation company’s stock worth $51,000 after purchasing an additional 218 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in Delta Air Lines by 14.7% in the second quarter. Sound Income Strategies LLC now owns 1,911 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL opened at $69.92 on Thursday. The company has a 50-day simple moving average of $60.42 and a two-hundred day simple moving average of $56.74. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The firm has a market cap of $45.66 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.58 and a beta of 1.38. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last released its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The company had revenue of $8.40 billion during the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. On average, equities analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, October 16th. Delta Air Lines’s dividend payout ratio is 10.56%.

Analyst Ratings Changes

A number of research firms have commented on DAL. Sanford C. Bernstein boosted their price target on shares of Delta Air Lines from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Bank of America lifted their price objective on shares of Delta Air Lines from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Wolfe Research reduced their target price on Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. Raymond James Financial raised their price target on Delta Air Lines from $68.00 to $70.00 and gave the company a “strong-buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Delta Air Lines in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $73.40.

Insider Activity at Delta Air Lines

In related news, SVP William C. Carroll sold 14,010 shares of Delta Air Lines stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the transaction, the senior vice president directly owned 15,816 shares of the company’s stock, valued at $968,730. The trade was a 46.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the sale, the executive vice president owned 81,109 shares of the company’s stock, valued at $5,055,523.97. This represents a 22.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by company insiders.

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.