Harel Insurance Investments & Financial Services Ltd. Acquires 10,050 Shares of Delta Air Lines, Inc. $DAL

Harel Insurance Investments & Financial Services Ltd. raised its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 2,055.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,539 shares of the transportation company’s stock after purchasing an additional 10,050 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Delta Air Lines were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Calamos Wealth Management LLC bought a new position in Delta Air Lines during the first quarter valued at about $475,000. Calamos Advisors LLC increased its holdings in Delta Air Lines by 3.1% during the first quarter. Calamos Advisors LLC now owns 379,989 shares of the transportation company’s stock worth $25,262,000 after buying an additional 11,395 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Delta Air Lines by 5.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 42,739 shares of the transportation company’s stock worth $2,841,000 after acquiring an additional 2,274 shares during the period. Bleakley Financial Group LLC boosted its stake in Delta Air Lines by 13.4% in the first quarter. Bleakley Financial Group LLC now owns 18,017 shares of the transportation company’s stock valued at $1,198,000 after acquiring an additional 2,126 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Delta Air Lines by 3.8% in the first quarter. Principal Financial Group Inc. now owns 747,998 shares of the transportation company’s stock valued at $49,727,000 after acquiring an additional 27,577 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Price Performance

DAL opened at $86.66 on Friday. The firm has a 50-day moving average price of $82.28 and a 200-day moving average price of $72.97. Delta Air Lines, Inc. has a twelve month low of $50.44 and a twelve month high of $95.68. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $56.99 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.07 and a beta of 1.29.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $17.67 billion for the quarter, compared to analysts’ expectations of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. Delta Air Lines’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. Equities analysts expect that Delta Air Lines, Inc. will post 6.61 EPS for the current year.

Delta Air Lines Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Delta Air Lines from $85.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $106.00 price objective on shares of Delta Air Lines in a research note on Monday. Bank of America increased their price objective on Delta Air Lines from $93.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. HSBC decreased their target price on Delta Air Lines from $80.20 to $79.30 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price on Delta Air Lines from $85.00 to $114.00 and gave the company an “overweight” rating in a research note on Monday. Twenty-three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Delta Air Lines currently has a consensus rating of “Moderate Buy” and an average price target of $100.40.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Alain Bellemare sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 95,025 shares of the company’s stock, valued at $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allison C. Ausband sold 5,000 shares of Delta Air Lines stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the completion of the transaction, the executive vice president owned 133,854 shares of the company’s stock, valued at approximately $10,574,466. This trade represents a 3.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,331 shares of company stock worth $5,036,638. Company insiders own 0.80% of the company’s stock.

Key Stories Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Delta is raising fares and keeping a higher baseline pricing structure, which should help protect margins if fuel costs stay elevated. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
• Positive Sentiment: Premium and corporate travel demand remains firm, supporting Delta’s revenue mix and pricing power. Delta (DAL) Is Resetting Fares Higher As Premium Travel Demand Holds Up
• Positive Sentiment: TD Cowen increased its price target on Delta Air Lines, signaling improved analyst confidence in the stock. Delta Air Lines (NYSE:DAL) Price Target Raised to $112.00 at TD Cowen
• Neutral Sentiment: Delta reported stronger revenue in the latest quarter, but net income fell from a year earlier, so the earnings update was mixed rather than uniformly positive. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
• Neutral Sentiment: Delta filed an omnibus shelf registration, which gives it flexibility to issue securities later, but does not by itself mean immediate dilution or financing activity. Delta’s Higher Fares And Shelf Offering Could Be A Game Changer For Delta Air Lines (DAL)
• Negative Sentiment: Higher jet fuel costs remain a headwind for the airline industry and could pressure Delta’s margins despite better pricing. United Airlines anticipates $6 billion in added fuel costs

About Delta Air Lines

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.