NewEdge Wealth LLC Has $2.26 Million Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

NewEdge Wealth LLC lowered its stake in Delta Air Lines, Inc. (NYSE:DAL) by 7.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,404 shares of the transportation company’s stock after selling 2,947 shares during the period. NewEdge Wealth LLC’s holdings in Delta Air Lines were worth $2,263,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Simmons Bank acquired a new position in Delta Air Lines in the 4th quarter valued at about $226,000. Advisor OS LLC acquired a new position in Delta Air Lines in the 4th quarter valued at about $205,000. Lake Street Advisors Group LLC grew its stake in Delta Air Lines by 5.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,881 shares of the transportation company’s stock valued at $295,000 after buying an additional 261 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in Delta Air Lines in the 4th quarter valued at about $355,000. Finally, CPA Asset Management LLC acquired a new position in Delta Air Lines in the 4th quarter valued at about $204,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a report on Friday, November 15th. Jefferies Financial Group boosted their price objective on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen boosted their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 13th. Barclays boosted their price objective on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $78.22.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $60.09 on Friday. The company has a 50 day moving average of $64.33 and a 200-day moving average of $57.09. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The company has a market cap of $38.85 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, February 27th. Delta Air Lines’s payout ratio is 11.26%.

Insider Activity at Delta Air Lines

In related news, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total value of $2,467,312.47. Following the completion of the transaction, the executive vice president now owns 52,789 shares of the company’s stock, valued at $3,425,478.21. This represents a 41.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at approximately $30,721,357.15. The trade was a 17.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,886 shares of company stock valued at $11,116,463 in the last quarter. Insiders own 0.96% of the company’s stock.

Delta Air Lines 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.