FineMark National Bank & Trust Has $856,000 Stake in Delta Air Lines, Inc. (NYSE:DAL)

FineMark National Bank & Trust decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 30.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,037 shares of the transportation company’s stock after selling 7,900 shares during the period. FineMark National Bank & Trust’s holdings in Delta Air Lines were worth $856,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. lifted its stake in Delta Air Lines by 1.6% in the fourth quarter. American International Group Inc. now owns 181,107 shares of the transportation company’s stock valued at $7,286,000 after buying an additional 2,783 shares during the period. First Hawaiian Bank acquired a new position in Delta Air Lines in the first quarter valued at about $749,000. Wells Fargo & Company MN lifted its stake in Delta Air Lines by 7.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,127,607 shares of the transportation company’s stock valued at $45,364,000 after buying an additional 73,936 shares during the period. Maryland State Retirement & Pension System lifted its stake in Delta Air Lines by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock valued at $2,384,000 after buying an additional 1,362 shares during the period. Finally, RFG Advisory LLC acquired a new position in Delta Air Lines in the first quarter valued at about $1,108,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Activity

In other Delta Air Lines news, Director Willie Cw Chiang acquired 10,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was bought at an average cost of $43.90 per share, with a total value of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $878,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DAL shares. Sanford C. Bernstein lowered their price target on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, July 12th. TD Cowen lowered their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. HSBC started coverage on Delta Air Lines in a report on Monday, May 13th. They issued a “buy” rating and a $72.80 price target for the company. Citigroup increased their price target on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Jefferies Financial Group lowered their price target on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $60.70.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $42.16 on Friday. The stock has a 50 day moving average price of $42.65 and a 200 day moving average price of $45.99. Delta Air Lines, Inc. has a 52 week low of $30.60 and a 52 week high of $53.86. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The stock has a market capitalization of $27.21 billion, a PE ratio of 6.07, a price-to-earnings-growth ratio of 0.93 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. During the same period last year, the company posted $2.68 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts predict that Delta Air Lines, Inc. will post 5.94 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 1.42%. Delta Air Lines’s dividend payout ratio is 8.63%.

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 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.