Cambiar Investors LLC Sells 90,178 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Cambiar Investors LLC reduced its stake in Delta Air Lines by 7.2%, now owning approximately 1,159,267 shares valued at about $50.5 million.
• Delta Air Lines announced a quarterly dividend of $0.1875, a significant increase from its previous dividend of $0.15, providing an annualized yield of 1.2%.
• Analysts have a consensus price target of $66.21 for Delta Air Lines, with fifteen buy ratings and two strong buy ratings issued recently.

Cambiar Investors LLC cut its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,159,267 shares of the transportation company's stock after selling 90,178 shares during the quarter. Delta Air Lines comprises approximately 2.1% of Cambiar Investors LLC's holdings, making the stock its 12th biggest position. Cambiar Investors LLC owned approximately 0.18% of Delta Air Lines worth $50,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in shares of Delta Air Lines by 5.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock worth $7,037,000 after purchasing an additional 9,034 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 92,772 shares during the period. Exchange Traded Concepts LLC increased its position in 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 buying an additional 7,586 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Delta Air Lines by 8.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock valued at $1,670,000 after buying an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. lifted its position in shares of 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 institutional investors.

Delta Air Lines Stock Performance

Shares of NYSE:DAL traded down $1.4250 on Wednesday, reaching $59.0750. 6,515,526 shares of the company's stock were exchanged, compared to its average volume of 10,735,950. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The company has a fifty day moving average of $53.02 and a 200-day moving average of $51.06. The company has a market capitalization of $38.57 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 1.91 and a beta of 1.56.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The business had revenue of $15,507,000 billion for the quarter, compared to the consensus estimate of $16.16 billion. During the same quarter in the prior year, the business posted $2.36 earnings per share. The firm's quarterly revenue was down .1% compared to the same quarter last year. On average, research analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. This is a boost 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 1.3%. Delta Air Lines's payout ratio is currently 10.87%.

Analyst Ratings Changes

A number of research firms recently weighed in on DAL. Barclays boosted their target price on Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. UBS Group set a $72.00 price objective on shares of Delta Air Lines in a report on Friday, July 11th. Bernstein Bank increased their price objective on shares of 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 shares of Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. Finally, Jefferies Financial Group increased their price target on shares of Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $66.21.

Insider Activity at Delta Air Lines

In other news, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total value of $151,750.00. Following the transaction, the director owned 33,245 shares in the company, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven M. Sear sold 18,000 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 97,505 shares of the company's stock, valued at $5,456,379.80. This trade represents a 15.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,473 shares of company stock worth $7,663,496 in the last 90 days. Corporate insiders own 0.96% of the company's stock.

Delta Air Lines 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.