Delta Air Lines, Inc. (NYSE:DAL) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 14,433,900 shares, a growth of 22.1% from the June 15th total of 11,823,700 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average trading volume of 5,120,000 shares, the days-to-cover ratio is currently 2.8 days.

In other news, insider Steven M. Sear sold 8,993 shares of Delta Air Lines stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the completion of the transaction, the insider now owns 76,150 shares in the company, valued at approximately $4,056,510.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Glen W. Hauenstein sold 50,000 shares of Delta Air Lines stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total value of $3,151,500.00. Following the completion of the transaction, the president now owns 267,526 shares of the company’s stock, valued at approximately $16,862,163.78. The disclosure for this sale can be found here. Insiders have sold a total of 93,288 shares of company stock valued at $5,753,311 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. increased its position in Delta Air Lines by 36.0% during the second quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock worth $35,000 after buying an additional 164 shares during the period. Pineno Levin & Ford Asset Management Inc. increased its position in Delta Air Lines by 0.4% during the first quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,643 shares of the transportation company’s stock worth $2,719,000 after buying an additional 190 shares during the period. Global Retirement Partners LLC increased its position in Delta Air Lines by 14.0% during the first quarter. Global Retirement Partners LLC now owns 1,772 shares of the transportation company’s stock worth $92,000 after buying an additional 217 shares during the period. Zeke Capital Advisors LLC increased its position in Delta Air Lines by 2.1% during the second quarter. Zeke Capital Advisors LLC now owns 10,702 shares of the transportation company’s stock worth $607,000 after buying an additional 225 shares during the period. Finally, Keystone Financial Group increased its position in Delta Air Lines by 5.6% during the first quarter. Keystone Financial Group now owns 4,433 shares of the transportation company’s stock worth $229,000 after buying an additional 234 shares during the period. 87.80% of the stock is currently owned by institutional investors.

DAL has been the subject of several recent research reports. Credit Suisse Group lifted their price objective on Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Cowen reiterated an “outperform” rating and issued a $69.00 price objective (up previously from $67.00) on shares of Delta Air Lines in a research note on Thursday, July 11th. Bank of America set a $152.00 price objective on Caterpillar and gave the company a “buy” rating in a research note on Thursday, April 4th. Deutsche Bank lifted their price objective on Spirit Airlines from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Imperial Capital cut their target price on Montage Resources from $9.00 to $6.00 and set an “inline” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $67.56.

Shares of NYSE DAL traded down $0.07 during midday trading on Friday, hitting $62.16. 3,856,774 shares of the company’s stock were exchanged, compared to its average volume of 6,736,201. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. Delta Air Lines has a twelve month low of $45.08 and a twelve month high of $63.44. The company has a market cap of $40.42 billion, a P/E ratio of 11.00, a PEG ratio of 0.49 and a beta of 1.18. The firm has a fifty day simple moving average of $58.45.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business had revenue of $12.54 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same quarter last year, the company earned $1.77 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts anticipate that Delta Air Lines will post 7.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be given a dividend of $0.4025 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, July 24th. This represents a $1.61 annualized dividend and a yield of 2.59%. Delta Air Lines’s payout ratio is 28.50%.

About Delta Air Lines

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

See Also: Economic Reports

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.