Sheaff Brock Investment Advisors LLC Reduces Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

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Sheaff Brock Investment Advisors LLC lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,764 shares of the transportation company’s stock after selling 499 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Delta Air Lines were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Kistler Tiffany Companies LLC purchased a new stake in Delta Air Lines during the 1st quarter worth about $26,000. Paragon Capital Management LLC purchased a new stake in Delta Air Lines in the 1st quarter valued at about $26,000. Glassman Wealth Services grew its holdings in Delta Air Lines by 1,153.5% in the 1st quarter. Glassman Wealth Services now owns 539 shares of the transportation company’s stock valued at $28,000 after buying an additional 496 shares during the period. Motco grew its holdings in Delta Air Lines by 1,716.7% in the 1st quarter. Motco now owns 654 shares of the transportation company’s stock valued at $34,000 after buying an additional 618 shares during the period. Finally, Carroll Financial Associates Inc. grew its holdings in Delta Air Lines by 105.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 623 shares of the transportation company’s stock valued at $35,000 after buying an additional 320 shares during the period. Hedge funds and other institutional investors own 87.34% of the company’s stock.

Shares of NYSE:DAL traded down $1.71 during trading on Wednesday, reaching $57.13. 324,518 shares of the stock were exchanged, compared to its average volume of 6,643,033. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. Delta Air Lines, Inc. has a 12-month low of $45.08 and a 12-month high of $63.44. The firm has a market capitalization of $38.26 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.47 and a beta of 1.18. The company has a 50-day moving average price of $60.05.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business had revenue of $12.54 billion during the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter in the previous year, the business earned $1.77 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts expect that Delta Air Lines, Inc. will post 7.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be issued a dividend of $0.4025 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.82%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s payout ratio is presently 28.50%.

In other news, SVP William C. Carroll sold 6,384 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $61.96, for a total transaction of $395,552.64. Following the completion of the sale, the senior vice president now owns 23,010 shares in the company, valued at approximately $1,425,699.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael P. Huerta sold 1,010 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $54.33, for a total value of $54,873.30. Following the sale, the director now owns 5,670 shares of the company’s stock, valued at approximately $308,051.10. The disclosure for this sale can be found here. Insiders have sold a total of 93,288 shares of company stock valued at $5,753,311 in the last quarter. Company insiders own 0.47% of the company’s stock.

Several analysts have commented on DAL shares. Cowen restated an “outperform” rating and issued a $69.00 price target (up previously from $67.00) on shares of Delta Air Lines in a report on Thursday, July 11th. Stephens restated an “overweight” rating and issued a $70.00 price target on shares of Delta Air Lines in a report on Wednesday, July 3rd. Wolfe Research set a $69.00 price target on Delta Air Lines and gave the company a “buy” rating in a report on Friday, July 12th. Zacks Investment Research restated a “sell” rating on shares of Delta Air Lines in a report on Tuesday, July 23rd. Finally, ValuEngine cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $67.56.

About Delta Air Lines

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Further Reading: Investing in Growth Stocks

Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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