Edward H. Bastian Sells 68,000 Shares of Delta Air Lines, Inc. (NYSE:DAL) Stock

by · The Markets Daily

Delta Air Lines, Inc. (NYSE:DAL – Get Free Report) CEO Edward H. Bastian sold 68,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $56.33, for a total value of $3,830,440.00. Following the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at approximately $24,775,004.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Delta Air Lines Stock Performance

Shares of DAL traded up $1.96 during mid-day trading on Tuesday, reaching $57.34. The company had a trading volume of 9,514,453 shares, compared to its average volume of 9,452,990. The stock has a market capitalization of $37.00 billion, a P/E ratio of 7.97, a PEG ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a 52-week low of $30.76 and a 52-week high of $57.37. The stock has a 50 day moving average of $47.62 and a two-hundred day moving average of $47.49. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL – Get Free Report) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 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 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.03 EPS. On average, analysts expect that Delta Air Lines, Inc. will post 6.17 earnings per share for the current year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.15 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 1.05%. Delta Air Lines’s payout ratio is 8.63%.

Analyst Upgrades and Downgrades

DAL has been the topic of several recent analyst reports. TD Cowen reduced their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Susquehanna increased their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Bank of America lifted their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and an average price target of $65.40.

Read Our Latest Stock Analysis on DAL

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new position in shares of Delta Air Lines during the 3rd quarter valued at approximately $25,000. Kimelman & Baird LLC purchased a new position in Delta Air Lines during the second quarter valued at $31,000. Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $40,000. Quarry LP purchased a new stake in shares of Delta Air Lines during the second quarter worth about $41,000. Finally, Richard W. Paul & Associates LLC raised its position in shares of Delta Air Lines by 68.7% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Company Profile

(Get Free Report)

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.

See Also