Patient Capital Management LLC Decreases Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Patient Capital Management LLC lessened its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 25.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 947,509 shares of the transportation company's stock after selling 316,065 shares during the quarter. Delta Air Lines accounts for 2.7% of Patient Capital Management LLC's investment portfolio, making the stock its 22nd largest position. Patient Capital Management LLC owned approximately 0.15% of Delta Air Lines worth $57,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of Delta Air Lines by 2.6% in the third quarter. Principal Financial Group Inc. now owns 742,773 shares of the transportation company's stock worth $37,725,000 after acquiring an additional 19,124 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Delta Air Lines by 2.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 85,891 shares of the transportation company's stock worth $5,196,000 after acquiring an additional 1,791 shares during the last quarter. Czech National Bank raised its holdings in Delta Air Lines by 6.4% in the fourth quarter. Czech National Bank now owns 139,007 shares of the transportation company's stock valued at $8,410,000 after buying an additional 8,377 shares during the period. Wedmont Private Capital raised its holdings in Delta Air Lines by 4.9% in the fourth quarter. Wedmont Private Capital now owns 13,635 shares of the transportation company's stock valued at $913,000 after buying an additional 642 shares during the period. Finally, Eastern Bank raised its holdings in Delta Air Lines by 793.8% in the fourth quarter. Eastern Bank now owns 715 shares of the transportation company's stock valued at $43,000 after buying an additional 635 shares during the period. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Stock Performance

Shares of NYSE DAL traded up $0.71 during midday trading on Friday, hitting $50.99. 8,307,960 shares of the company's stock were exchanged, compared to its average volume of 9,522,625. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The company's 50 day moving average price is $43.94 and its 200 day moving average price is $56.22. The firm has a market capitalization of $33.29 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46.

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

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 annualized dividend and a yield of 1.18%. Delta Air Lines's payout ratio is currently 10.64%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DAL shares. The Goldman Sachs Group cut their price target on shares of Delta Air Lines from $83.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Sanford C. Bernstein restated an "outperform" rating on shares of Delta Air Lines in a research note on Tuesday, May 13th. TD Cowen lifted their price objective on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Susquehanna reduced their price target on shares of Delta Air Lines from $80.00 to $50.00 and set a "positive" rating for the company in a report on Monday, April 7th. Finally, Citigroup cut their price objective on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.42.

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.