Delta Air Lines (NYSE:DAL) Hits New 1-Year High – Here’s What Happened

Delta Air Lines, Inc. (NYSE:DAL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $61.36 and last traded at $61.36, with a volume of 415153 shares changing hands. The stock had previously closed at $58.29.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DAL. Bank of America lifted their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. Jefferies Financial Group lifted their price objective on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein boosted their price target on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Susquehanna boosted their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $65.40.

Delta Air Lines Trading Up 6.7 %

The firm’s 50-day moving average price is $49.68 and its 200-day moving average price is $47.94. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The company has a market cap of $40.12 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 1.10 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $2.03 EPS. As a group, equities research analysts expect that Delta Air Lines, Inc. will post 6.12 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 0.97%. Delta Air Lines’s dividend payout ratio is presently 8.33%.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Steven M. Sear sold 10,279 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $58.72, for a total value of $603,582.88. Following the completion of the transaction, the executive vice president now owns 78,459 shares of the company’s stock, valued at $4,607,112.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Delta Air Lines news, EVP Rahul D. Samant sold 10,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $58.53, for a total transaction of $585,300.00. Following the completion of the sale, the executive vice president now owns 64,163 shares of the company’s stock, valued at $3,755,460.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Steven M. Sear sold 10,279 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $58.72, for a total transaction of $603,582.88. Following the sale, the executive vice president now directly owns 78,459 shares of the company’s stock, valued at $4,607,112.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,200 shares of company stock valued at $6,269,469 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Delta Air Lines

Several institutional investors have recently added to or reduced their stakes in the company. Empirical Finance LLC raised its holdings in Delta Air Lines by 2.4% in the 3rd quarter. Empirical Finance LLC now owns 22,110 shares of the transportation company’s stock worth $1,123,000 after purchasing an additional 517 shares in the last quarter. Empowered Funds LLC raised its holdings in Delta Air Lines by 18.5% in the 3rd quarter. Empowered Funds LLC now owns 338,331 shares of the transportation company’s stock worth $17,184,000 after purchasing an additional 52,775 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Delta Air Lines by 7.9% in the 3rd quarter. CIBC Asset Management Inc now owns 93,706 shares of the transportation company’s stock worth $4,759,000 after purchasing an additional 6,896 shares in the last quarter. Intellectus Partners LLC raised its holdings in Delta Air Lines by 25.8% in the 3rd quarter. Intellectus Partners LLC now owns 56,887 shares of the transportation company’s stock worth $2,889,000 after purchasing an additional 11,669 shares in the last quarter. Finally, Lifeworks Advisors LLC raised its holdings in Delta Air Lines by 8.9% in the 3rd quarter. Lifeworks Advisors LLC now owns 4,836 shares of the transportation company’s stock worth $246,000 after purchasing an additional 396 shares in the last quarter. Hedge funds and other institutional investors 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.