Rock Point Advisors LLC Sells 3,822 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Rock Point Advisors LLC decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 2.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 159,679 shares of the transportation company’s stock after selling 3,822 shares during the quarter. Delta Air Lines accounts for 2.3% of Rock Point Advisors LLC’s portfolio, making the stock its 17th largest position. Rock Point Advisors LLC’s holdings in Delta Air Lines were worth $7,575,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its position in shares of Delta Air Lines by 26,166.7% during the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 785 shares during the period. Rise Advisors LLC grew its holdings in Delta Air Lines by 122.5% during the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 452 shares during the period. Unique Wealth Strategies LLC purchased a new stake in Delta Air Lines in the second quarter worth about $40,000. Richard W. Paul & Associates LLC raised its stake in shares of Delta Air Lines by 68.7% in the second quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after buying an additional 357 shares during the period. Finally, Private Wealth Management Group LLC purchased a new position in shares of Delta Air Lines during the 4th quarter valued at about $42,000. 69.93% of the stock is currently owned by institutional investors.

Insider Transactions at Delta Air Lines

In related news, Director Willie Cw Chiang purchased 10,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was bought at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $878,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DAL shares. Sanford C. Bernstein reduced their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, July 12th. Jefferies Financial Group reduced their price objective on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Citigroup lifted their target price on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, TD Cowen cut their price target on 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, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $61.52.

Delta Air Lines Trading Up 2.1 %

Shares of DAL opened at $45.18 on Friday. The stock has a market capitalization of $29.16 billion, a PE ratio of 6.50, a P/E/G ratio of 0.89 and a beta of 1.34. The company’s fifty day moving average is $42.27 and its 200 day moving average is $46.12. 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, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $53.86.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts expect that Delta Air Lines, Inc. will post 5.99 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

Delta Air Lines 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.