KKM Financial LLC Acquires 3,340 Shares of Delta Air Lines, Inc. (NYSE:DAL)

by · The Markets Daily

KKM Financial LLC boosted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,084 shares of the transportation company’s stock after acquiring an additional 3,340 shares during the quarter. KKM Financial LLC’s holdings in Delta Air Lines were worth $2,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAL. Future Financial Wealth Managment LLC bought a new position in shares of Delta Air Lines in the third quarter valued at approximately $25,000. Kimelman & Baird LLC bought a new position in shares of Delta Air Lines in the second quarter valued at approximately $31,000. Ashton Thomas Securities LLC bought a new position in shares of Delta Air Lines in the third quarter valued at approximately $31,000. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines in the second quarter valued at approximately $36,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines in the second quarter valued at approximately $40,000. Institutional investors own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

DAL has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen boosted their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Bank of America boosted their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $72.75.

View Our Latest Stock Report on Delta Air Lines

Delta Air Lines Price Performance

DAL opened at $63.34 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $66.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The firm’s fifty day moving average price is $55.01 and its two-hundred day moving average price is $49.15. The company has a market capitalization of $40.87 billion, a P/E ratio of 8.80, a P/E/G ratio of 1.20 and a beta of 1.33.

Delta Air Lines (NYSE:DAL – Get Free Report) last posted its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Insider Activity

In other news, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the sale, the executive vice president now owns 121,961 shares in the company, valued at approximately $6,739,564.86. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,240 shares of company stock worth $8,044,893. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Company Profile

(Free Report)

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.

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