ING Groep NV Acquires New Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Key Points

• ING Groep NV has acquired 57,430 shares of Delta Air Lines valued at approximately $2,504,000, marking a significant investment in the company during Q1.
• Delta Air Lines reported earnings of $2.10 per share for the last quarter, surpassing analysts' expectations, although revenue fell slightly from the previous year.
• The company announced an increase in its quarterly dividend to $0.1875 per share, reflecting a continued commitment to returning value to shareholders.

ING Groep NV purchased a new position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 57,430 shares of the transportation company's stock, valued at approximately $2,504,000.

A number of other large investors have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Delta Air Lines by 414.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Continuum Advisory LLC boosted its position in Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after buying an additional 179 shares during the period. Hara Capital LLC bought a new stake in Delta Air Lines in the 1st quarter worth $35,000. N.E.W. Advisory Services LLC bought a new stake in Delta Air Lines in the 1st quarter worth $40,000. Finally, Private Wealth Management Group LLC increased its position in shares of Delta Air Lines by 104.8% in the first quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock valued at $43,000 after acquiring an additional 507 shares during the period. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Down 0.9%

Shares of DAL stock traded down $0.51 during trading hours on Thursday, hitting $53.61. 4,973,894 shares of the company's stock traded hands, compared to its average volume of 10,952,094. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. The stock's fifty day simple moving average is $51.65 and its two-hundred day simple moving average is $51.70. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The stock has a market cap of $35.00 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 1.69 and a beta of 1.56.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The business had revenue of $15,507,000 billion during the quarter, compared to analysts' expectations of $16.16 billion. During the same quarter in the previous year, the business earned $2.36 earnings per share. The firm's quarterly revenue was down .1% compared to the same quarter last year. On average, analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.4%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines's dividend payout ratio is presently 10.87%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DAL shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Delta Air Lines from $53.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley increased their price objective on Delta Air Lines from $88.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wolfe Research boosted their target price on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Delta Air Lines in a research note on Friday, July 11th. Finally, BNP Paribas Exane lifted their price target on shares of Delta Air Lines from $58.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.21.

Insider Activity

In other news, EVP Peter W. Carter sold 17,550 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total value of $1,003,684.50. Following the completion of the transaction, the executive vice president owned 191,442 shares in the company, valued at $10,948,567.98. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward H. Bastian sold 35,000 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total value of $1,969,800.00. Following the sale, the chief executive officer directly owned 632,823 shares in the company, valued at $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,973 shares of company stock valued at $7,511,746 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Delta Air Lines 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.