Edward H. Bastian Sells 25,000 Shares of Delta Air Lines, Inc. (DAL) Stock
Delta Air Lines, Inc. (NYSE:DAL) CEO Edward H. Bastian sold 25,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $48.55, for a total value of $1,213,750.00. Following the transaction, the chief executive officer now directly owns 285,508 shares in the company, valued at $13,861,413.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Delta Air Lines, Inc. (NYSE DAL) traded up 0.85% during midday trading on Friday, hitting $52.00. 6,254,513 shares of the stock were exchanged. The stock has a 50 day moving average price of $49.73 and a 200-day moving average price of $48.76. Delta Air Lines, Inc. has a 12 month low of $32.60 and a 12 month high of $53.57. The company has a market cap of $37.86 billion, a PE ratio of 9.59 and a beta of 1.13.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, April 12th. The transportation company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Delta Air Lines had a net margin of 10.19% and a return on equity of 28.67%. The business had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the company posted $1.32 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts predict that Delta Air Lines, Inc. will post $5.12 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 19th were issued a $0.2025 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $0.81 annualized dividend and a yield of 1.56%. Delta Air Lines’s dividend payout ratio is presently 15.06%.
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A number of equities analysts recently commented on the company. Vetr cut Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 target price on the stock. in a report on Thursday, June 1st. Stifel Nicolaus restated a “buy” rating on shares of Delta Air Lines in a research report on Friday, May 26th. Imperial Capital restated an “in-line” rating and set a $52.00 price objective on shares of Delta Air Lines in a research report on Friday, May 19th. Citigroup Inc. lifted their price target on Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Finally, Deutsche Bank AG lifted their price target on Delta Air Lines from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, April 18th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $53.35.
A number of hedge funds have recently bought and sold shares of DAL. Patten Group Inc. boosted its stake in Delta Air Lines by 0.3% in the first quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock valued at $420,000 after buying an additional 30 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Delta Air Lines by 0.8% in the first quarter. Wetherby Asset Management Inc. now owns 6,020 shares of the transportation company’s stock worth $277,000 after buying an additional 49 shares during the period. Independent Advisor Alliance boosted its stake in shares of Delta Air Lines by 0.8% in the first quarter. Independent Advisor Alliance now owns 8,254 shares of the transportation company’s stock worth $372,000 after buying an additional 64 shares during the period. Fishman Jay A Ltd. MI boosted its stake in shares of Delta Air Lines by 0.3% in the third quarter. Fishman Jay A Ltd. MI now owns 22,978 shares of the transportation company’s stock worth $904,000 after buying an additional 78 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Delta Air Lines by 1.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,379 shares of the transportation company’s stock worth $314,000 after buying an additional 91 shares during the period. 86.81% of the stock is currently 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 across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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