Envestnet Portfolio Solutions Inc. Sells 14,781 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Envestnet Portfolio Solutions Inc. lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 34.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,705 shares of the transportation company’s stock after selling 14,781 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Delta Air Lines were worth $1,737,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC bought a new stake in Delta Air Lines in the fourth quarter valued at $27,000. Roxbury Financial LLC purchased a new stake in shares of Delta Air Lines in the 4th quarter worth about $29,000. Hemington Wealth Management boosted its stake in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Delta Air Lines during the fourth quarter valued at about $30,000. Finally, Modus Advisors LLC bought a new position in Delta Air Lines in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL opened at $46.89 on Friday. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 0.75 and a beta of 1.34. The business’s fifty day simple moving average is $60.80 and its two-hundred day simple moving average is $58.02. Delta Air Lines, Inc. has a 12 month low of $37.29 and a 12 month high of $69.98. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The company had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.20 billion. During the same period last year, the firm posted $1.28 earnings per share. Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. Research analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%. Delta Air Lines’s dividend payout ratio (DPR) is 11.26%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DAL. TD Cowen increased their target price on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. StockNews.com upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Barclays lowered their price objective on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Citigroup decreased their price target on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Susquehanna lifted their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and a consensus price target of $76.29.

Insider Buying and Selling

In related news, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the transaction, the chief executive officer now owns 439,819 shares of the company’s stock, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,304,291.12. This represents a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is owned by insiders.

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.