Brandywine Global Investment Management LLC Has $127.56 Million Holdings in Delta Air Lines, Inc. $DAL

Key Points

• Brandywine Global Investment Management reduced its Delta Air Lines stake by 5.8% in the fourth quarter, but still held 1.84 million shares valued at about $127.6 million.
• Delta reported better-than-expected quarterly results, posting EPS of $0.64 versus the $0.61 estimate and revenue of $14.2 billion, up 9.4% year over year.
• The company also paid a quarterly dividend of $0.1875 per share, while analysts currently maintain a Moderate Buy consensus with an average price target of $80.85.

Brandywine Global Investment Management LLC lessened its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,838,051 shares of the transportation company's stock after selling 112,701 shares during the quarter. Delta Air Lines makes up about 0.9% of Brandywine Global Investment Management LLC's holdings, making the stock its 23rd biggest holding. Brandywine Global Investment Management LLC owned 0.28% of Delta Air Lines worth $127,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors boosted its position in shares of Delta Air Lines by 4.4% in the fourth quarter. Capital International Investors now owns 24,211,101 shares of the transportation company's stock worth $1,680,249,000 after buying an additional 1,012,265 shares during the period. Geode Capital Management LLC boosted its holdings in Delta Air Lines by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company's stock worth $1,215,766,000 after purchasing an additional 202,865 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Delta Air Lines by 23.9% in the fourth quarter. Bank of New York Mellon Corp now owns 9,496,296 shares of the transportation company's stock worth $659,043,000 after purchasing an additional 1,834,385 shares in the last quarter. Capital World Investors boosted its holdings in Delta Air Lines by 0.6% in the fourth quarter. Capital World Investors now owns 8,395,096 shares of the transportation company's stock worth $582,620,000 after purchasing an additional 46,341 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in Delta Air Lines in the fourth quarter worth $471,532,000. Institutional investors and hedge funds own 69.93% of the company's stock.

Delta Air Lines Stock Up 0.2%

NYSE DAL opened at $79.55 on Monday. Delta Air Lines, Inc. has a 1-year low of $45.28 and a 1-year high of $83.83. The company has a market capitalization of $52.26 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.12 and a beta of 1.30. The stock's 50 day moving average is $71.58 and its two-hundred day moving average is $68.81. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the firm posted $0.46 EPS. Delta Air Lines's quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that Delta Air Lines, Inc. will post 5.37 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.1875 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.9%. Delta Air Lines's dividend payout ratio (DPR) is 10.93%.

Insider Activity at Delta Air Lines

In related news, EVP Allison C. Ausband sold 9,710 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $76.00, for a total transaction of $737,960.00. Following the completion of the sale, the executive vice president directly owned 138,854 shares of the company's stock, valued at $10,552,904. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John E. Laughter sold 69,304 shares of Delta Air Lines stock in a transaction on 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 of the company's stock, valued at approximately $4,727,497.35. The trade was a 49.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 149,635 shares of company stock valued at $10,833,855 in the last ninety days. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

DAL has been the subject of a number of recent research reports. Wolfe Research decreased their price objective on shares of Delta Air Lines from $81.00 to $73.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Susquehanna decreased 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 report on Thursday, April 9th. BNP Paribas Exane decreased their price objective on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. Zacks Research raised shares of Delta Air Lines from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley upped their price target on shares of Delta Air Lines from $90.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.85.

Delta Air Lines Profile

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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