Delta Air Lines, Inc. (NYSE:DAL) Holdings Decreased by M&T Bank Corp

M&T Bank Corp lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 21.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,529 shares of the transportation company's stock after selling 13,377 shares during the quarter. M&T Bank Corp's holdings in Delta Air Lines were worth $2,159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DAL. Boston Partners acquired a new position in Delta Air Lines during the 4th quarter valued at approximately $328,398,000. Ninety One UK Ltd boosted its position in Delta Air Lines by 1,469.9% during the 1st quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company's stock valued at $144,273,000 after purchasing an additional 3,098,237 shares during the period. Norges Bank acquired a new position in Delta Air Lines during the 4th quarter valued at approximately $152,342,000. Adage Capital Partners GP L.L.C. boosted its position in Delta Air Lines by 405.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,054,285 shares of the transportation company's stock valued at $184,784,000 after purchasing an additional 2,449,874 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Delta Air Lines by 66.9% during the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock valued at $257,918,000 after purchasing an additional 2,370,795 shares during the period. Institutional investors and hedge funds own 69.93% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Susquehanna reduced their price objective on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating for the company in a research report on Monday, April 7th. Bank of America reduced their price objective on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group boosted their price target on Delta Air Lines from $60.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday. TD Cowen boosted their price target on Delta Air Lines from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Finally, Raymond James Financial reduced their price target on Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and a consensus price target of $64.69.

Delta Air Lines Trading Down 0.1%

Shares of Delta Air Lines stock opened at $56.72 on Friday. 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 firm has a market cap of $37.04 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49. The business has a fifty day simple moving average of $49.43 and a 200-day simple moving average of $52.74. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98.

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 for the quarter, beating the consensus estimate of $2.01 by $0.09. The business had revenue of $15,507,000 billion during the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The company's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.36 earnings per share. On average, equities analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.32%. Delta Air Lines's payout ratio is 10.64%.

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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