Delta Air Lines (NYSE:DAL) Shares Gap Down Following Insider Selling

Delta Air Lines, Inc. (NYSE:DAL)’s stock price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $55.80, but opened at $54.68. Delta Air Lines shares last traded at $55.01, with a volume of 1,920,398 shares traded.

Specifically, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the transaction, the executive vice president now owns 121,961 shares in the company, valued at $6,739,564.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DAL shares. Susquehanna lifted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Bank of America raised their price objective on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Jefferies Financial Group upped their target price on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen decreased their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. One 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. According to MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $65.40.

Delta Air Lines Stock Performance

The firm’s 50 day moving average is $46.44 and its 200-day moving average is $47.27. The stock has a market capitalization of $35.36 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 0.98 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data 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). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same quarter last year, the company posted $2.03 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Analysts forecast that Delta Air Lines, Inc. will post 6.17 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

Institutional Investors Weigh In On Delta Air Lines

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAL. Future Financial Wealth Managment LLC acquired a new stake in Delta Air Lines in the 3rd quarter worth about $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines during the 2nd quarter worth $31,000. Strategic Financial Concepts LLC purchased a new stake in shares of Delta Air Lines during the second quarter worth $36,000. Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $40,000. Finally, Quarry LP acquired a new position in Delta Air Lines during the second quarter worth about $41,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

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.