Birmingham Capital Management Co. Inc. AL Invests $918,000 in Delta Air Lines, Inc. $DAL

Birmingham Capital Management Co. Inc. AL acquired a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 9,800 shares of the transportation company’s stock, valued at approximately $918,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lloyd Advisory Services LLC. acquired a new stake in Delta Air Lines in the 4th quarter worth approximately $31,000. SWAN Capital LLC raised its position in Delta Air Lines by 1,016.0% during the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 508 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of Delta Air Lines in the 4th quarter valued at $34,000. Cornerstone Planning Group LLC boosted its stake in shares of Delta Air Lines by 451.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after acquiring an additional 429 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its position in Delta Air Lines by 195.9% during the second quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company’s stock worth $34,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In other news, President Peter W. Carter sold 39,900 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $92.98, for a total transaction of $3,709,902.00. Following the completion of the sale, the president directly owned 424,704 shares of the company’s stock, valued at $39,488,977.92. The trade was a 8.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alain Bellemare sold 35,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares of the company’s stock, valued at $8,810,718. The trade was a 26.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 356,726 shares of company stock worth $33,081,037 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $106.00 price objective on shares of Delta Air Lines in a report on Monday, July 13th. Wells Fargo & Company lifted their target price on shares of Delta Air Lines from $75.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Cantor Fitzgerald set a $112.00 price target on Delta Air Lines in a research note on Tuesday, July 14th. TD Cowen dropped their target price on shares of Delta Air Lines from $112.00 to $105.00 and set a “buy” rating for the company in a report on Monday. Finally, Morgan Stanley upped their target price on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Twenty-three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.84.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $83.18 on Thursday. The company has a market cap of $54.70 billion, a PE ratio of 13.79, a P/E/G ratio of 1.12 and a beta of 1.31. The stock has a fifty day moving average price of $87.87 and a 200 day moving average price of $76.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35. Delta Air Lines, Inc. has a 1-year low of $55.03 and a 1-year high of $95.68.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The company had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. During the same period in the previous year, the firm earned $2.10 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.42 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio is currently 14.26%.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.