Summit Financial LLC Sells 2,161 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Summit Financial LLC lessened its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,628 shares of the transportation company’s stock after selling 2,161 shares during the period. Summit Financial LLC’s holdings in Delta Air Lines were worth $1,188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Meeder Asset Management Inc. increased its stake in Delta Air Lines by 96.2% in the fourth quarter. Meeder Asset Management Inc. now owns 141,016 shares of the transportation company’s stock worth $8,531,000 after purchasing an additional 69,155 shares during the period. FSB Premier Wealth Management Inc. purchased a new position in Delta Air Lines in the 4th quarter worth about $202,000. O Shaughnessy Asset Management LLC lifted its holdings in Delta Air Lines by 13.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 84,999 shares of the transportation company’s stock valued at $5,142,000 after buying an additional 10,024 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Delta Air Lines by 3.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 23,738 shares of the transportation company’s stock worth $1,458,000 after acquiring an additional 688 shares in the last quarter. Finally, L & S Advisors Inc purchased a new position in shares of Delta Air Lines during the fourth quarter worth approximately $4,534,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

DAL opened at $42.38 on Wednesday. The company has a market cap of $27.40 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 0.75 and a beta of 1.34. The firm’s fifty day simple moving average is $57.98 and its two-hundred day simple moving average is $58.36. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. 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 posted its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. The firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.28 earnings per share. Equities analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s dividend payout ratio (DPR) is presently 11.26%.

Analyst Upgrades and Downgrades

Several research firms have commented on DAL. UBS Group reduced their price objective on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Susquehanna increased their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. TD Cowen increased their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Barclays reduced their price objective on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines currently has a consensus rating of “Moderate Buy” and an average target price of $74.29.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of Delta Air Lines stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now directly owns 52,789 shares of the company’s stock, valued at $3,425,478.21. The trade was a 41.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of 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 trade represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock worth $11,116,463 in the last quarter. Company 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.