Glenview Trust Co Acquires 19,972 Shares of Delta Air Lines, Inc. $DAL

Glenview Trust Co increased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 7.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 274,125 shares of the transportation company’s stock after buying an additional 19,972 shares during the quarter. Glenview Trust Co’s holdings in Delta Air Lines were worth $18,224,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Delta Air Lines by 137.4% during the fourth quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company’s stock valued at $958,538,000 after acquiring an additional 7,994,004 shares during the period. Life Cycle Investment Partners Ltd bought a new position in shares of Delta Air Lines in the 4th quarter valued at about $471,532,000. Bank of New York Mellon Corp grew its holdings in Delta Air Lines by 29.2% during the 1st quarter. Bank of New York Mellon Corp now owns 12,270,241 shares of the transportation company’s stock worth $815,726,000 after acquiring an additional 2,773,945 shares during the period. Pacer Advisors Inc. boosted its holdings in Delta Air Lines by 1,579.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,673,400 shares of the transportation company’s stock worth $185,534,000 after buying an additional 2,514,193 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Delta Air Lines by 44.3% in the 4th quarter. AQR Capital Management LLC now owns 6,155,776 shares of the transportation company’s stock valued at $426,441,000 after acquiring an additional 1,890,521 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DAL shares. Raymond James Financial cut shares of Delta Air Lines from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $104.00 in a report on Monday, July 6th. Argus set a $105.00 price target on shares of Delta Air Lines in a research report on Tuesday, July 14th. The Goldman Sachs Group upped their price objective on shares of Delta Air Lines from $80.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Bank of America boosted their target price on Delta Air Lines from $93.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, UBS Group raised their price target on Delta Air Lines from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.40.

Delta Air Lines Trading Up 0.3%

NYSE:DAL opened at $84.44 on Tuesday. The company has a market cap of $55.53 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.29. Delta Air Lines, Inc. has a twelve month low of $50.44 and a twelve month high of $95.68. The business has a 50 day moving average price of $82.77 and a two-hundred day moving average price of $73.18. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $17.43 billion. During the same period last year, the company earned $2.10 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. As a group, analysts expect that Delta Air Lines, Inc. will post 6.66 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a dividend of $0.215 per share. The ex-dividend date is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio (DPR) is currently 14.26%.

Insider Activity

In related news, EVP Allison C. Ausband sold 9,710 shares of Delta Air Lines stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $76.00, for a total value of $737,960.00. Following the sale, the executive vice president owned 138,854 shares of the company’s stock, valued at approximately $10,552,904. The trade was a 6.54% 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, EVP Alain Bellemare sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total value of $2,036,000.00. Following the sale, the executive vice president owned 95,025 shares in the company, valued at $7,738,836. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,331 shares of company stock valued at $5,036,638 in the last 90 days. 0.80% of the stock is owned by corporate insiders.

Delta Air Lines 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.