Farmers & Merchants Investments Inc. Has $3.87 Million Stock Position in Delta Air Lines, Inc. $DAL

Key Points

• Farmers & Merchants Investments Inc. cut its Delta Air Lines stake by 53.1% in the fourth quarter, selling 63,093 shares and ending with 55,751 shares valued at about $3.87 million.
• Delta’s latest earnings beat expectations, reporting $0.64 EPS on $14.20 billion in revenue, both above analyst estimates. Revenue rose 9.4% year over year, and analysts now expect about $5.3 EPS for the current fiscal year.
• Recent sentiment around DAL has been constructive: UBS raised its price target to $95, and the stock has also been supported by stronger airfare pricing and a post-earnings share-price gain.

Farmers & Merchants Investments Inc. reduced its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 53.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 55,751 shares of the transportation company's stock after selling 63,093 shares during the period. Farmers & Merchants Investments Inc.'s holdings in Delta Air Lines were worth $3,869,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in DAL. Brighton Jones LLC grew its stake in shares of Delta Air Lines by 33.5% during the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock worth $555,000 after purchasing an additional 2,302 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Delta Air Lines in the first quarter valued at about $178,000. Sivia Capital Partners LLC bought a new stake in shares of Delta Air Lines in the second quarter valued at about $555,000. Marshall Wace LLP lifted its holdings in shares of Delta Air Lines by 102.2% in the second quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company's stock valued at $385,000 after purchasing an additional 357,825 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Delta Air Lines by 10.6% in the second quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company's stock valued at $2,859,000 after purchasing an additional 5,564 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DAL has been the topic of a number of recent research reports. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $81.00 target price on shares of Delta Air Lines in a research report on Wednesday, January 14th. Susquehanna lowered their price target on Delta Air Lines from $81.00 to $78.00 and set a "positive" rating on the stock in a research report on Thursday, April 9th. Bank of America decreased their target price on Delta Air Lines from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. Jefferies Financial Group boosted their price target on Delta Air Lines from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Finally, The Goldman Sachs Group boosted their price target on Delta Air Lines from $77.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $79.47.

Key Headlines Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: UBS raised its price target on Delta to $95, highlighting confidence in the airline’s premium-cabin strategy and potential for stronger earnings per share, which can boost investor sentiment. UBS Just Hiked Delta Air Lines Price Target to $95: Premium Cabin Strategy Targets $13 EPS
• Positive Sentiment: Delta has outperformed since its last earnings report, suggesting the market is still rewarding the company’s recent quarterly results and outlook. Why Is Delta (DAL) Up 7.8% Since Last Earnings Report?
• Positive Sentiment: Airfare pricing across the industry is rising sharply after Spirit’s liquidation, which could support Delta’s revenue per seat if demand remains firm. Airfares skyrocket as much as 218% on Spirit Airlines' busiest routes within just 48 hours of its May 2 liquidation

Delta Air Lines Stock Up 0.3%

Shares of DAL opened at $73.31 on Friday. Delta Air Lines, Inc. has a 52 week low of $45.28 and a 52 week high of $76.39. The stock has a market capitalization of $48.16 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The stock has a fifty day moving average of $66.34 and a 200-day moving average of $66.29.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.Delta Air Lines's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS. As a group, sell-side analysts anticipate that Delta Air Lines, Inc. will post 5.3 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, May 14th. Delta Air Lines's dividend payout ratio is presently 10.93%.

Insider Buying and Selling

In other Delta Air Lines news, EVP Alain Bellemare sold 20,621 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $72.75, for a total transaction of $1,500,177.75. Following the completion of the sale, the executive vice president directly owned 120,025 shares in the company, valued at approximately $8,731,818.75. This trade represents a 14.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven M. Sear sold 38,600 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $75.05, for a total value of $2,896,930.00. Following the sale, the executive vice president owned 104,404 shares of the company's stock, valued at approximately $7,835,520.20. The trade was a 26.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 278,737 shares of company stock valued at $19,868,268. Company insiders own 0.80% of the company's stock.

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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