Insider Selling: Delta Air Lines Inc. (DAL) President Sells $4,642,000.00 in Stock
Delta Air Lines Inc. (NYSE:DAL) President Glen W. Hauenstein sold 105,500 shares of Delta Air Lines stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $44.00, for a total value of $4,642,000.00. Following the sale, the president now directly owns 271,225 shares of the company’s stock, valued at approximately $11,933,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Delta Air Lines Inc. (NYSE:DAL) opened at 45.95 on Friday. Delta Air Lines Inc. has a one year low of $32.60 and a one year high of $52.77. The firm has a 50-day moving average price of $40.80 and a 200 day moving average price of $39.66. The stock has a market capitalization of $34.00 billion, a PE ratio of 7.45 and a beta of 0.89.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, October 13th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. The firm earned $10.48 billion during the quarter. Delta Air Lines had a return on equity of 37.39% and a net margin of 11.92%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.74 earnings per share. On average, equities analysts expect that Delta Air Lines Inc. will post $5.70 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be issued a dividend of $0.2025 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.81 annualized dividend and a yield of 1.76%. Delta Air Lines’s dividend payout ratio is presently 13.11%.
DAL has been the subject of a number of research reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Delta Air Lines in a report on Tuesday. Cowen and Company reaffirmed an “outperform” rating and set a $55.00 target price on shares of Delta Air Lines in a report on Thursday, August 11th. JPMorgan Chase & Co. decreased their price target on Delta Air Lines from $63.00 to $48.50 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Sanford C. Bernstein began coverage on Delta Air Lines in a report on Tuesday, October 11th. They issued a “market perform” rating and a $43.00 price target for the company. Finally, Imperial Capital began coverage on Delta Air Lines in a report on Wednesday, August 24th. They issued an “in-line” rating and a $41.00 price target for the company. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Delta Air Lines presently has a consensus rating of “Buy” and an average price target of $52.66.
A number of institutional investors have recently modified their holdings of the company. Archford Capital Strategies LLC boosted its position in shares of Delta Air Lines by 3,152.4% in the second quarter. Archford Capital Strategies LLC now owns 2,732 shares of the company’s stock valued at $100,000 after buying an additional 2,648 shares in the last quarter. Physicians Financial Services Inc. bought a new position in Delta Air Lines during the third quarter valued at $110,000. Financial Engines Advisors L.L.C. increased its position in Delta Air Lines by 447.0% in the third quarter. Financial Engines Advisors L.L.C. now owns 3,085 shares of the company’s stock valued at $121,000 after buying an additional 2,521 shares during the last quarter. FTB Advisors Inc. increased its position in Delta Air Lines by 7.4% in the third quarter. FTB Advisors Inc. now owns 3,106 shares of the company’s stock valued at $122,000 after buying an additional 214 shares during the last quarter. Finally, Capital Guardian Trust Co. increased its position in Delta Air Lines by 168.2% in the second quarter. Capital Guardian Trust Co. now owns 3,189 shares of the company’s stock valued at $116,000 after buying an additional 2,000 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.
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