Exchange Traded Concepts LLC Increases Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Exchange Traded Concepts LLC raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 152.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,567 shares of the transportation company's stock after buying an additional 7,586 shares during the quarter. Exchange Traded Concepts LLC's holdings in Delta Air Lines were worth $548,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DAL. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock valued at $32,000 after buying an additional 431 shares in the last quarter. Graney & King LLC bought a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $34,000. Continuum Advisory LLC lifted its stake in shares of Delta Air Lines by 44.2% in the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after purchasing an additional 179 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $45,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Stock Down 0.7%

Shares of NYSE:DAL traded down $0.32 on Friday, reaching $47.24. The company had a trading volume of 10,794,796 shares, compared to its average volume of 9,725,269. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98. The firm's 50 day simple moving average is $46.63 and its 200-day simple moving average is $53.77. The firm has a market capitalization of $30.84 billion, a PE ratio of 8.38, a PEG ratio of 2.39 and a beta of 1.51. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.83.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.91% and a return on equity of 28.18%. The company had revenue of $12.98 billion during the quarter, compared to analysts' expectations of $13.85 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company's revenue was down 5.6% compared to the same quarter last year. As a group, analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.59%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines's payout ratio is 10.64%.

Wall Street Analysts Forecast Growth

DAL has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Bank of America lowered their price objective on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Barclays lowered their price objective on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Raymond James Financial lowered their price objective on Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Finally, TD Cowen raised their price objective on Delta Air Lines from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Delta Air Lines presently has an average rating of "Moderate Buy" and an average target price of $61.67.

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.