Congress Wealth Management LLC DE Cuts Position in Delta Air Lines, Inc. (NYSE:DAL)

Congress Wealth Management LLC DE cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 51.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 108,551 shares of the transportation company’s stock after selling 112,908 shares during the period. Congress Wealth Management LLC DE’s holdings in Delta Air Lines were worth $6,567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. WASHINGTON TRUST Co grew its stake in Delta Air Lines by 7.5% in the 4th quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 150 shares during the period. Hemington Wealth Management grew its position in Delta Air Lines by 48.1% during the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after buying an additional 154 shares during the period. Mason & Associates Inc increased its holdings in Delta Air Lines by 3.2% during the fourth quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company’s stock worth $308,000 after buying an additional 160 shares during the last quarter. DAVENPORT & Co LLC raised its position in Delta Air Lines by 1.2% in the fourth quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company’s stock worth $865,000 after acquiring an additional 173 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its stake in Delta Air Lines by 10.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,820 shares of the transportation company’s stock valued at $110,000 after acquiring an additional 175 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Price Performance

NYSE:DAL opened at $48.67 on Wednesday. Delta Air Lines, Inc. has a 52-week low of $37.29 and a 52-week high of $69.98. The stock has a fifty day moving average of $60.13 and a 200 day moving average of $58.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The firm has a market capitalization of $31.46 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 0.75 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.76 by $0.09. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. On average, research analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines’s dividend payout ratio is currently 11.26%.

Analyst Upgrades and Downgrades

DAL has been the topic of a number of research reports. Citigroup lowered their price target on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Barclays lowered their target price on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Susquehanna increased their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, January 7th. UBS Group lowered their price objective on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Finally, TD Cowen increased their target price on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average target price of $76.29.

Insider Buying and Selling

In other Delta Air Lines news, SVP William C. Carroll sold 8,400 shares of the 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 transaction, the senior vice president now directly owns 19,756 shares in the company, valued at $1,304,291.12. This trade represents a 29.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the completion of the sale, the executive vice president now owns 52,789 shares of the company’s stock, valued at approximately $3,425,478.21. The trade was a 41.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,886 shares of company stock worth $11,116,463. Corporate insiders own 0.96% of the company’s stock.

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.