Clearstead Trust LLC Purchases New Stake in Delta Air Lines, Inc. (NYSE:DAL)

Clearstead Trust LLC purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,549 shares of the transportation company’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds have also modified their holdings of DAL. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Delta Air Lines by 495.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 685 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 570 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Delta Air Lines by 396.6% in the 4th quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock valued at $29,000 after buying an additional 575 shares during the period. Headlands Technologies LLC bought a new stake in shares of Delta Air Lines during the 3rd quarter valued at about $35,000. Robeco Institutional Asset Management B.V. raised its stake in Delta Air Lines by 1,302.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,318 shares of the transportation company’s stock worth $49,000 after acquiring an additional 1,224 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in Delta Air Lines in the third quarter worth about $56,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DAL. Deutsche Bank Aktiengesellschaft raised their price target on Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $85.00 price objective on shares of Delta Air Lines in a research report on Thursday, April 11th. Susquehanna upped their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. Finally, UBS Group initiated coverage on Delta Air Lines in a research note on Wednesday, March 20th. They set a “buy” rating and a $59.00 target price for the company. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $58.29.

Delta Air Lines Stock Up 1.0 %

Shares of NYSE:DAL traded up $0.52 during midday trading on Friday, hitting $51.55. 9,165,946 shares of the stock were exchanged, compared to its average volume of 12,487,077. The business’s fifty day simple moving average is $45.98 and its two-hundred day simple moving average is $40.72. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $51.65. The company has a market capitalization of $32.99 billion, a PE ratio of 6.63, a P/E/G ratio of 0.76 and a beta of 1.38. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The company had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same quarter in the prior year, the business posted $0.25 EPS. Delta Air Lines’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.55 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, May 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Insider Activity

In other news, Director Willie Cw Chiang purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $49.50 per share, with a total value of $495,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $495,000. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Peter W. Carter sold 50,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the completion of the sale, the executive vice president now owns 143,328 shares in the company, valued at approximately $7,166,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Willie Cw Chiang purchased 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $49.50 per share, for a total transaction of $495,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $495,000. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 174,073 shares of company stock valued at $8,581,207. Insiders own 0.89% of the company’s stock.

Delta Air Lines Company Profile

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.