Delta Air Lines (NYSE:DAL) Reaches New 12-Month High at $50.75

Delta Air Lines, Inc. (NYSE:DAL) reached a new 52-week high during trading on Thursday . The stock traded as high as $50.75 and last traded at $50.65, with a volume of 2423771 shares changing hands. The stock had previously closed at $50.02.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. UBS Group assumed coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They set a “buy” rating and a $59.00 target price for the company. Susquehanna raised their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research report on Tuesday, April 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Delta Air Lines in a research report on Thursday, April 11th. Finally, Bank of America boosted their price target on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $58.29.

Delta Air Lines Trading Up 1.0 %

The business’s 50 day simple moving average is $45.79 and its two-hundred day simple moving average is $40.60. The stock has a market cap of $32.99 billion, a P/E ratio of 6.63, a PEG ratio of 0.76 and a beta of 1.38. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The business had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts expect that Delta Air Lines, Inc. will post 6.55 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a $0.10 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. Delta Air Lines’s dividend payout ratio is 5.14%.

Insider Buying and Selling at Delta Air Lines

In other news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $49.50 per share, with a total value of $495,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $495,000. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Delta Air Lines news, EVP Peter W. Carter sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $50.00, for a total value of $2,500,000.00. Following the transaction, the executive vice president now directly owns 143,328 shares of the company’s stock, valued at $7,166,400. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Willie Cw Chiang acquired 10,000 shares of Delta Air Lines stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $49.50 per share, with a total value of $495,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $495,000. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 174,073 shares of company stock worth $8,581,207. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DAL. Wellington Management Group LLP grew its holdings in Delta Air Lines by 220.2% in the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after purchasing an additional 5,914,301 shares during the period. Capital International Investors grew its stake in shares of Delta Air Lines by 8.8% in the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after buying an additional 1,689,053 shares during the period. Norges Bank bought a new stake in Delta Air Lines in the 4th quarter valued at about $65,056,000. Jennison Associates LLC raised its stake in Delta Air Lines by 145.2% during the 4th quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock worth $105,347,000 after buying an additional 1,550,770 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in Delta Air Lines by 27.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock worth $260,198,000 after acquiring an additional 1,376,221 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Company 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.