TD Asset Management Inc Sells 146,560 Shares of Delta Air Lines, Inc. $DAL

Key Points

• TD Asset Management Inc reduced its stake in Delta Air Lines by 26.7%, selling 146,560 shares during the second quarter, leaving them with approximately 401,431 shares valued at about $19.7 million.
• Several institutional investors, including Janney Montgomery Scott and Charles Schwab Investment Management, have increased their stakes in Delta Air Lines, indicating a strong interest in the stock.
• Delta Air Lines recently announced a quarterly dividend of $0.1875 per share, representing an annualized yield of 1.3% and a low dividend payout ratio of 10.56%.

TD Asset Management Inc lowered its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 26.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 401,431 shares of the transportation company's stock after selling 146,560 shares during the period. TD Asset Management Inc owned approximately 0.06% of Delta Air Lines worth $19,742,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DAL. Janney Montgomery Scott LLC increased its stake in Delta Air Lines by 5.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock worth $7,037,000 after purchasing an additional 9,034 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Delta Air Lines by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company's stock worth $160,900,000 after buying an additional 92,772 shares during the period. Exchange Traded Concepts LLC raised its holdings in Delta Air Lines by 152.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock valued at $548,000 after buying an additional 7,586 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Delta Air Lines by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock valued at $1,670,000 after buying an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in Delta Air Lines by 1,169.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company's stock valued at $316,000 after buying an additional 6,677 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

Shares of DAL opened at $59.70 on Friday. The company has a 50-day simple moving average of $59.35 and a two-hundred day simple moving average of $52.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The firm has a market capitalization of $38.98 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.38 and a beta of 1.50. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The company had revenue of $8.40 billion during the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%. On average, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. Delta Air Lines's dividend payout ratio is currently 10.56%.

Insider Buying and Selling

In other Delta Air Lines news, Director Michael P. Huerta sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the transaction, the director owned 33,245 shares of the company's stock, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William C. Carroll sold 14,010 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total value of $858,112.50. Following the completion of the sale, the senior vice president directly owned 15,816 shares in the company, valued at approximately $968,730. This represents a 46.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,510 shares of company stock worth $2,979,663 in the last three months. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Delta Air Lines from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $63.00 to $72.00 and gave the company a "buy" rating in a report on Friday, October 10th. Wall Street Zen upgraded Delta Air Lines from a "hold" rating to a "buy" rating in a report on Saturday, October 11th. Raymond James Financial boosted their target price on Delta Air Lines from $68.00 to $70.00 and gave the company a "strong-buy" rating in a research note on Friday, October 10th. Finally, Bank of America upped their target price on Delta Air Lines from $70.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines currently has a consensus rating of "Buy" and a consensus price target of $71.53.

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.

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