Ameriflex Group Inc. Lowers Stock Position in Delta Air Lines, Inc. $DAL

Ameriflex Group Inc. lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 3.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,598 shares of the transportation company’s stock after selling 200 shares during the period. Ameriflex Group Inc.’s holdings in Delta Air Lines were worth $274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DAL. Signature Resources Capital Management LLC bought a new position in Delta Air Lines during the second quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in Delta Air Lines during the first quarter valued at about $31,000. Zions Bancorporation National Association UT bought a new position in Delta Air Lines during the first quarter valued at about $33,000. Hara Capital LLC bought a new position in Delta Air Lines during the first quarter valued at about $35,000. Finally, N.E.W. Advisory Services LLC bought a new position in Delta Air Lines during the first quarter valued at about $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling

In other news, EVP Steven M. Sear sold 18,000 shares of the firm’s 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 transaction, the executive vice president directly owned 97,505 shares in the company, valued at approximately $5,456,379.80. This trade represents a 15.58% 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 the SEC website. Also, CEO Edward H. Bastian sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the completion of the transaction, the chief executive officer owned 632,823 shares of the company’s stock, valued at $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,473 shares of company stock valued at $7,663,496 in the last three months. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DAL shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Delta Air Lines from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Evercore ISI lifted their target price on shares of Delta Air Lines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays lifted their target price on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. BNP Paribas Exane lifted their target price on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Delta Air Lines in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $67.84.

Delta Air Lines Price Performance

DAL stock opened at $57.32 on Friday. The firm has a 50 day moving average of $58.23 and a 200-day moving average of $51.19. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. 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 capitalization of $37.42 billion, a P/E ratio of 8.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.50.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, beating 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 company had revenue of $15.51 billion during the quarter, compared to analyst estimates of $16.16 billion. During the same period last year, the business earned $2.36 earnings per share. Delta Air Lines’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 16th. Delta Air Lines’s dividend payout ratio (DPR) is 10.87%.

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.