Delta Air Lines, Inc. $DAL Shares Purchased by Hourglass Capital LLC

Key Points

• Hourglass Capital LLC increased its stake in Delta Air Lines by 9.7% during Q2, now holding over 116,000 shares valued at approximately $5.7 million.
• The company declared a quarterly dividend of $0.1875 per share, to be paid on November 6, contributing to an annualized dividend of $0.75 with a yield of 1.2%.
• Wall Street analysts have generally upgraded Delta Air Lines, with a consensus target price now at $71.53 and multiple firms assigning a "buy" rating.

Hourglass Capital LLC raised its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,344 shares of the transportation company's stock after purchasing an additional 10,300 shares during the quarter. Hourglass Capital LLC's holdings in Delta Air Lines were worth $5,722,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its position in shares of Delta Air Lines by 5.9% during the first quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock worth $7,037,000 after acquiring an additional 9,034 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Delta Air Lines by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company's stock worth $160,900,000 after acquiring an additional 92,772 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Delta Air Lines by 152.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock worth $548,000 after acquiring an additional 7,586 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Delta Air Lines by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock worth $1,670,000 after acquiring an additional 2,973 shares during the last quarter. Finally, Jefferies Financial Group Inc. increased its holdings in Delta Air Lines by 1,169.4% in the first quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company's stock valued at $316,000 after buying an additional 6,677 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Price Performance

NYSE DAL opened at $61.76 on Thursday. The business's fifty day moving average is $59.09 and its two-hundred day moving average is $51.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The stock has a market capitalization of $40.32 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.58 and a beta of 1.50.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The company had revenue of $8.40 billion for the quarter. On average, research analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 16th. Delta Air Lines's payout ratio is currently 10.56%.

Insider Buying and Selling at Delta Air Lines

In other news, CEO Edward H. Bastian sold 35,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, the chief executive officer directly owned 632,823 shares in the company, valued at $35,615,278.44. The trade was a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael P. Huerta sold 2,500 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the sale, the director owned 33,245 shares of the company's stock, valued at $2,017,971.50. This represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen upgraded Delta Air Lines from a "hold" rating to a "buy" rating in a research note on Saturday, October 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 note on Friday, July 11th. Citigroup boosted their price objective on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research report on Friday, July 11th. BNP Paribas Exane boosted their price objective on Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Delta Air Lines from $63.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $71.53.

About Delta Air Lines

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.

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