Traders Buy Shares of Delta Air Lines, Inc. (DAL) on Weakness

Investors purchased shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading hours on Friday. $494.20 million flowed into the stock on the tick-up and $37.17 million flowed out of the stock on the tick-down, for a money net flow of $457.03 million into the stock. Of all companies tracked, Delta Air Lines had the 8th highest net in-flow for the day. Delta Air Lines traded down ($0.02) for the day and closed at $48.25

A number of research analysts have weighed in on DAL shares. Bank of America Corporation raised their price objective on shares of Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Vetr lowered shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price objective on the stock. in a research note on Thursday, June 1st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Delta Air Lines in a research note on Friday, May 26th. ValuEngine lowered shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $62.00 price objective (up from $58.00) on shares of Delta Air Lines in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $61.97.

The stock has a 50 day moving average price of $48.47 and a 200-day moving average price of $49.17. The company has a market capitalization of $35.13 billion, a price-to-earnings ratio of 9.56 and a beta of 1.25.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.02). The firm had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 EPS. Analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.22 annualized dividend and a yield of 2.53%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio is currently 24.25%.

In other Delta Air Lines news, President Glen W. Hauenstein sold 67,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the transaction, the president now owns 239,418 shares in the company, valued at approximately $13,203,902.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Craig M. Meynard sold 5,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.26, for a total transaction of $276,300.00. Following the transaction, the vice president now owns 7,437 shares in the company, valued at approximately $410,968.62. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 267,000 shares of company stock worth $293,520 and have sold 75,700 shares worth $4,171,150. 0.37% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Managed Accounts LLC bought a new position in Delta Air Lines during the 1st quarter valued at about $100,000. TrimTabs Asset Management LLC lifted its stake in Delta Air Lines by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,416 shares of the transportation company’s stock valued at $111,000 after acquiring an additional 1,136 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in Delta Air Lines during the 2nd quarter valued at about $114,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Delta Air Lines by 40.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 793 shares during the period. Finally, Ruggie Capital Group lifted its stake in Delta Air Lines by 1,187.0% during the 1st quarter. Ruggie Capital Group now owns 2,767 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 2,552 shares during the period. Institutional investors and hedge funds own 86.49% of the company’s stock.

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Delta Air Lines Company Profile

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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