Aigen Investment Management LP Cuts Stake in Delta Air Lines, Inc. (NYSE:DAL)

Key Points

• Aigen Investment Management LP reduced its stake in Delta Air Lines by 59.1%, ending the first quarter with 5,940 shares worth approximately $259,000.
• Delta Air Lines recently announced a quarterly dividend increase to $0.1875 per share, up from the previous $0.15, representing a 1.2% yield.
• Equities analysts have raised their price targets for Delta Air Lines, with a consensus target price of $66.21 and a overall rating of "Moderate Buy".

Aigen Investment Management LP reduced its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 59.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,940 shares of the transportation company's stock after selling 8,589 shares during the quarter. Aigen Investment Management LP's holdings in Delta Air Lines were worth $259,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased 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 valued at $32,000 after purchasing an additional 431 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Delta Air Lines in the first quarter worth about $33,000. Continuum Advisory LLC boosted its position in Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after purchasing an additional 179 shares in the last quarter. Hara Capital LLC purchased a new position in Delta Air Lines during the first quarter worth approximately $35,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Delta Air Lines during the first quarter worth approximately $40,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the sale, the executive vice president owned 97,505 shares in the company, valued at $5,456,379.80. This represents a 15.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter W. Carter sold 17,550 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total value of $1,003,684.50. Following the sale, the executive vice president owned 191,442 shares in the company, valued at approximately $10,948,567.98. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,973 shares of company stock valued at $7,511,746. Corporate insiders own 0.88% of the company's stock.

Delta Air Lines Stock Up 2.2%

Shares of NYSE:DAL traded up $1.31 on Friday, hitting $60.27. 9,821,226 shares of the company's stock were exchanged, compared to its average volume of 7,508,247. The company has a market capitalization of $39.35 billion, a PE ratio of 8.73, a P/E/G ratio of 1.88 and a beta of 1.56. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The firm's 50-day moving average is $52.64 and its 200 day moving average is $51.16.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results 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. The firm had revenue of $15,507,000 billion during the quarter, compared to analysts' expectations of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The business's revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 EPS. Sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. Delta Air Lines's dividend payout ratio (DPR) is currently 10.87%.

Analyst Ratings Changes

Several research firms have recently weighed in on DAL. BNP Paribas Exane raised their target price on Delta Air Lines from $58.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 11th. Bernstein Bank lifted their target price on Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Friday, July 11th. Raymond James Financial lifted their target price on Delta Air Lines from $60.00 to $68.00 in a research report on Friday, July 11th. Barclays boosted their price objective on Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Delta Air Lines from $53.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $66.21.

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.