Beck Bode LLC Takes Position in Delta Air Lines, Inc. $DAL

Key Points

• Beck Bode LLC initiated a new position in Delta Air Lines in the fourth quarter, buying 19,563 shares worth about $1.36 million.
• Delta also saw notable insider selling, including CEO Edward H. Bastian and EVP John E. Laughter, with insiders selling 204,925 shares total over the past 90 days.
• The company recently beat quarterly earnings expectations, reporting $0.64 EPS on $14.2 billion in revenue, while analysts maintain a Moderate Buy consensus with an average price target of $79.76.

Beck Bode LLC acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,563 shares of the transportation company's stock, valued at approximately $1,358,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaQuest LLC boosted its stake in shares of Delta Air Lines by 90.6% in the third quarter. AlphaQuest LLC now owns 444 shares of the transportation company's stock valued at $25,000 after purchasing an additional 211 shares during the period. Accredited Wealth Management LLC boosted its stake in shares of Delta Air Lines by 1,983.3% in the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company's stock valued at $28,000 after purchasing an additional 476 shares during the period. Lloyd Advisory Services LLC. purchased a new position in shares of Delta Air Lines in the fourth quarter valued at approximately $31,000. SWAN Capital LLC boosted its stake in shares of Delta Air Lines by 1,016.0% in the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company's stock valued at $32,000 after purchasing an additional 508 shares during the period. Finally, Camelot Portfolios LLC purchased a new position in shares of Delta Air Lines in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Insider Activity

In other news, CEO Edward H. Bastian sold 100,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $70.26, for a total value of $7,026,000.00. Following the transaction, the chief executive officer owned 1,363,448 shares in the company, valued at approximately $95,795,856.48. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John E. Laughter sold 69,304 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $68.15, for a total value of $4,723,067.60. Following the completion of the transaction, the executive vice president owned 69,369 shares in the company, valued at approximately $4,727,497.35. The trade was a 49.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 204,925 shares of company stock worth $14,323,395. 0.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Susquehanna lowered their price objective on shares of Delta Air Lines from $81.00 to $78.00 and set a "positive" rating for the company in a research note on Thursday, April 9th. Weiss Ratings downgraded Delta Air Lines from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 6th. Zacks Research upgraded Delta Air Lines from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 15th. TD Cowen upped their price target on Delta Air Lines from $76.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Finally, Evercore restated an "outperform" rating and set a $85.00 price target on shares of Delta Air Lines in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.76.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $76.16 on Friday. The stock's 50-day moving average is $68.23 and its two-hundred day moving average is $67.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. Delta Air Lines, Inc. has a 1-year low of $45.28 and a 1-year high of $77.10. The company has a market cap of $50.04 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.10 and a beta of 1.25.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the business earned $0.46 EPS. Delta Air Lines's revenue was up 9.4% on a year-over-year basis. Analysts forecast that Delta Air Lines, Inc. will post 5.26 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, May 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.0%. Delta Air Lines's dividend payout ratio is presently 10.93%.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.

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