Congress Wealth Management LLC DE Sells 112,908 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Congress Wealth Management LLC DE decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 51.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,551 shares of the transportation company’s stock after selling 112,908 shares during the period. Congress Wealth Management LLC DE’s holdings in Delta Air Lines were worth $6,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. New Wave Wealth Advisors LLC bought a new stake in Delta Air Lines during the 4th quarter worth $27,000. Hemington Wealth Management grew its holdings in shares of Delta Air Lines by 48.1% during the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after purchasing an additional 154 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Delta Air Lines in the fourth quarter valued at approximately $29,000. Crews Bank & Trust bought a new position in Delta Air Lines in the 4th quarter valued at approximately $30,000. Finally, Modus Advisors LLC acquired a new stake in Delta Air Lines during the 4th quarter worth approximately $33,000. Institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling at Delta Air Lines

In other news, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $66.02, for a total value of $554,568.00. Following the sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,304,291.12. This trade represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,886 shares of company stock valued at $11,116,463. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

DAL stock opened at $48.67 on Wednesday. Delta Air Lines, Inc. has a 1 year low of $37.29 and a 1 year high of $69.98. The stock has a market capitalization of $31.46 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. The company’s 50-day moving average is $60.13 and its 200-day moving average is $58.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32.

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

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.60 annualized dividend and a yield of 1.23%. Delta Air Lines’s payout ratio is 11.26%.

Analyst Ratings Changes

DAL has been the topic of a number of recent research reports. TD Cowen lifted their price target on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citigroup decreased their price target on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Barclays cut their price objective on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. UBS Group lowered their price target on shares of Delta Air Lines from $90.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Finally, Susquehanna upped their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $76.29.

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.