Cercano Management LLC Makes New Investment in Delta Air Lines, Inc. (NYSE:DAL)

Cercano Management LLC bought a new position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 44,965 shares of the transportation company's stock, valued at approximately $2,720,000.

Several other hedge funds have also made changes to their positions in the company. Donoghue Forlines LLC acquired a new stake in Delta Air Lines during the 4th quarter valued at $2,036,000. Mount Yale Investment Advisors LLC acquired a new stake in Delta Air Lines during the 4th quarter worth about $3,593,000. Global Financial Private Client LLC grew its stake in Delta Air Lines by 562.0% during the 4th quarter. Global Financial Private Client LLC now owns 11,260 shares of the transportation company's stock valued at $681,000 after acquiring an additional 9,559 shares in the last quarter. BluePath Capital Management LLC increased its holdings in shares of Delta Air Lines by 23.9% in the 4th quarter. BluePath Capital Management LLC now owns 23,657 shares of the transportation company's stock valued at $1,540,000 after purchasing an additional 4,567 shares during the period. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of Delta Air Lines in the fourth quarter worth approximately $244,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Stock Performance

NYSE:DAL opened at $45.49 on Tuesday. The firm's fifty day simple moving average is $44.97 and its 200 day simple moving average is $56.63. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The firm has a market capitalization of $29.70 billion, a PE ratio of 8.53, a PEG ratio of 0.75 and a beta of 1.46. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The company had revenue of $12.98 billion during the quarter, compared to analyst estimates of $13.85 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.32%. Delta Air Lines's dividend payout ratio is currently 10.64%.

Wall Street Analyst Weigh In

DAL has been the topic of a number of research analyst reports. Bank of America lowered their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Dbs Bank downgraded shares of Delta Air Lines from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Barclays cut their price objective on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Susquehanna lowered their target price on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. Finally, Raymond James cut their price target on Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.06.

Insider Activity

In other news, EVP Rahul D. Samant sold 38,023 shares of Delta Air Lines stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the sale, the executive vice president now directly owns 52,789 shares in the company, valued at approximately $3,425,478.21. The trade was a 41.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is currently owned by company insiders.

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 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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