Summit X LLC Sells 792 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Summit X LLC lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 2.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,915 shares of the transportation company’s stock after selling 792 shares during the period. Summit X LLC’s holdings in Delta Air Lines were worth $1,689,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Glaxis Capital Management LLC bought a new position in shares of Delta Air Lines in the 4th quarter worth approximately $605,000. Independent Advisor Alliance increased its position in Delta Air Lines by 38.8% during the 4th quarter. Independent Advisor Alliance now owns 53,662 shares of the transportation company’s stock valued at $3,247,000 after buying an additional 15,009 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in Delta Air Lines by 165.9% during the 4th quarter. Johnson Investment Counsel Inc. now owns 10,682 shares of the transportation company’s stock valued at $646,000 after buying an additional 6,664 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Delta Air Lines by 13.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 46,849 shares of the transportation company’s stock valued at $2,834,000 after buying an additional 5,451 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new position in Delta Air Lines during the 4th quarter valued at approximately $5,053,000. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

NYSE:DAL opened at $46.65 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The business’s 50-day simple moving average is $63.19 and its two-hundred day simple moving average is $57.99. The stock has a market cap of $30.15 billion, a PE ratio of 8.75, a P/E/G ratio of 0.75 and a beta of 1.34. Delta Air Lines, Inc. has a 52 week low of $37.29 and a 52 week high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.20 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be issued a $0.15 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. Delta Air Lines’s dividend payout ratio (DPR) is 11.26%.

Insider Transactions at Delta Air Lines

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on DAL shares. Susquehanna raised their price objective on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. Barclays reduced 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. UBS Group cut their target price on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday. The Goldman Sachs Group reiterated a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $76.60.

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.