Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division decreased its position in Delta Air Lines, Inc. (NYSE:DAL) by 18.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,571 shares of the transportation company’s stock after selling 1,011 shares during the period. First Financial Bank Trust Division’s holdings in Delta Air Lines were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DAL. Wellington Management Group LLP grew its position in Delta Air Lines by 220.2% during the 4th 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 in the last quarter. Capital International Investors boosted its position in shares of Delta Air Lines by 8.8% in the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after buying an additional 1,689,053 shares during the period. Norges Bank acquired a new stake in shares of Delta Air Lines in the fourth quarter worth $65,056,000. Jennison Associates LLC boosted its position in shares of Delta Air Lines by 145.2% in the fourth 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 position in shares of 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 buying an additional 1,376,221 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Down 4.6 %

NYSE DAL traded down $1.85 during trading on Monday, hitting $37.98. 19,877,577 shares of the company traded hands, compared to its average volume of 9,775,396. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $47.24 and a 200 day simple moving average of $45.94. The company has a market capitalization of $24.51 billion, a P/E ratio of 5.73, a PEG ratio of 0.86 and a beta of 1.35. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The business had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 earnings per share. As a group, sell-side analysts predict that Delta Air Lines, Inc. will post 6.26 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, July 30th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. Delta Air Lines’s payout ratio is presently 8.63%.

Wall Street Analysts Forecast Growth

DAL has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Jefferies Financial Group decreased their target price on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Bank of America lifted their price objective on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. TD Cowen reduced their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, HSBC began coverage on Delta Air Lines in a research report on Monday, May 13th. They set a “buy” rating and a $72.80 price objective for the company. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $60.70.

Insider Transactions at Delta Air Lines

In related news, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total transaction of $253,445.80. Following the transaction, the executive vice president now directly owns 112,421 shares in the company, valued at $5,879,618.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Willie Cw Chiang purchased 10,000 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were purchased at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $878,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the transaction, the executive vice president now owns 112,421 shares in the company, valued at $5,879,618.30. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by corporate insiders.

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.