Delta Air Lines reported an insider sale by executive vice president Steven M. Sear in a regulatory filing with the Securities and Exchange Commission. According to the Form 4 submitted, Sear sold 38,600 shares of Delta common stock on February 9, 2026, with total proceeds of $2.9 million.
The shares were disposed of at prices ranging from $75.020 to $75.125 per share. Following completion of the transaction, Sear's direct holding in Delta stands at 104,404 shares.
Corporate actions and commitments
In separate disclosures, Delta announced a quarterly cash dividend of $0.1875 per share. The dividend is payable on March 19, 2026, to shareholders of record as of February 26, 2026.
Delta also entered into a definitive purchase agreement with Airbus to acquire 16 Airbus A330-900 and 15 Airbus A350-900 aircraft. Deliveries under that agreement are scheduled to begin in 2029. The contract includes an option that would allow Delta to buy up to an additional 20 widebody aircraft.
Analyst commentary
On the analyst front, BofA Securities reiterated its Buy rating on Delta, citing what the firm described as a conservative approach to Delta's 2026 earnings guidance. UBS also maintained a Buy rating but adjusted its price target to $87.00 from $90.00. UBS's decision to keep a Buy rating came despite Delta's fiscal year guidance coming in below expectations at the mid-point.
Context
These company-level moves and analyst reactions arrive as airline operations work toward normalizing after disruptions related to a winter storm. The combination of insider trading disclosure, shareholder return via dividend, fleet commitments and analyst positioning provides multiple data points for investors evaluating Delta's near-term outlook.