Toronto Dominion Bank Grows Position in Delta Air Lines, Inc. (NYSE:DAL)

Toronto Dominion Bank raised its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,388 shares of the transportation company’s stock after purchasing an additional 22,799 shares during the period. Toronto Dominion Bank’s holdings in Delta Air Lines were worth $15,241,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DAL. Capital Group Private Client Services Inc. grew its stake in Delta Air Lines by 25.8% in the 1st quarter. Capital Group Private Client Services Inc. now owns 287,165 shares of the transportation company’s stock valued at $13,747,000 after buying an additional 58,881 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Delta Air Lines by 8.5% in the first quarter. Advisors Asset Management Inc. now owns 29,348 shares of the transportation company’s stock worth $1,405,000 after acquiring an additional 2,311 shares during the period. Sculati Wealth Management LLC boosted its holdings in shares of Delta Air Lines by 5.6% in the first quarter. Sculati Wealth Management LLC now owns 37,109 shares of the transportation company’s stock worth $1,776,000 after acquiring an additional 1,960 shares during the period. Payden & Rygel Investment Group purchased a new position in shares of Delta Air Lines in the first quarter valued at $14,792,000. Finally, Crewe Advisors LLC bought a new stake in shares of Delta Air Lines during the 1st quarter valued at $67,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

DAL stock traded up $0.66 during mid-day trading on Friday, hitting $44.13. 8,719,034 shares of the stock were exchanged, compared to its average volume of 9,761,617. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 6.35, a PEG ratio of 0.88 and a beta of 1.35. The business has a fifty day moving average price of $48.23 and a 200 day moving average price of $45.77. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The firm had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.26 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

Insiders Place Their Bets

In related news, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $49.50 per share, for a total transaction of $495,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $495,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Willie Cw Chiang purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $49.50 per share, with a total value of $495,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $495,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the transaction, the executive vice president now owns 112,421 shares in the company, valued at approximately $5,879,618.30. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Susquehanna raised their target price on Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. HSBC started coverage on shares of Delta Air Lines in a research note on Monday, May 13th. They set a “buy” rating and a $72.80 price objective for the company. TD Cowen lowered their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Bank of America boosted their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $60.70.

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.