Fiduciary Family Office LLC Purchases New Stake in Delta Air Lines, Inc. (NYSE:DAL)

Key Points

• Fiduciary Family Office LLC acquired a new position in Delta Air Lines, purchasing 18,513 shares valued at approximately $807,000 during the first quarter.
• Delta Air Lines increased its quarterly dividend from $0.15 to $0.1875, representing an annual yield of 1.4%.
• Several analysts have raised their price targets for Delta Air Lines, with estimates now ranging from $68.00 to $72.00 per share.

Fiduciary Family Office LLC bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 18,513 shares of the transportation company's stock, valued at approximately $807,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position 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 worth $32,000 after acquiring an additional 431 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Delta Air Lines during the 1st quarter worth about $33,000. Continuum Advisory LLC lifted its position in Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after acquiring an additional 179 shares during the period. Hara Capital LLC acquired a new stake in Delta Air Lines during the 1st quarter worth about $35,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Delta Air Lines during the 1st quarter worth about $40,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Steven M. Sear sold 18,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the completion of the transaction, the executive vice president owned 97,505 shares of the company's stock, valued at $5,456,379.80. This represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the transaction, the executive vice president directly owned 131,731 shares of the company's stock, valued at $7,318,974.36. The trade was a 25.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,973 shares of company stock worth $7,511,746 over the last three months. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group lifted their price target on Delta Air Lines from $56.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, July 14th. TD Cowen lifted their price target on Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Raymond James Financial lifted their price target on Delta Air Lines from $60.00 to $68.00 in a research report on Friday, July 11th. Barclays lifted their price target on Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Delta Air Lines in a report on Friday, July 11th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $66.21.

Delta Air Lines Price Performance

NYSE DAL traded up $5.00 during trading hours on Tuesday, reaching $58.50. The company's stock had a trading volume of 15,720,982 shares, compared to its average volume of 10,880,308. The firm has a market capitalization of $38.20 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 1.67 and a beta of 1.56. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The company's 50-day moving average is $51.85 and its two-hundred day moving average is $51.28.

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

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, July 31st. This is an increase 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 1.3%. Delta Air Lines's payout ratio is currently 10.87%.

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.