Generate Investment Management Ltd Raises Stock Position in Delta Air Lines, Inc. $DAL

Key Points

• Generate Investment Management Ltd raised its stake in Delta Air Lines by 122.9% in Q2, now holding 560,467 shares valued at approximately $27.56 million.
• Several analysts have recently upgraded Delta Air Lines, with target prices ranging from $60.00 to $85.00, reflecting a consensus rating of "Moderate Buy."
• Delta Air Lines declared a quarterly dividend of $0.1875, resulting in an annualized dividend yield of 1.3%, with the payment scheduled for November 6th.

Generate Investment Management Ltd increased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 122.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 560,467 shares of the transportation company's stock after purchasing an additional 309,056 shares during the period. Delta Air Lines accounts for about 1.5% of Generate Investment Management Ltd's holdings, making the stock its 19th biggest holding. Generate Investment Management Ltd owned approximately 0.09% of Delta Air Lines worth $27,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC grew its stake in shares of Delta Air Lines by 93.0% in the second quarter. V Square Quantitative Management LLC now owns 20,477 shares of the transportation company's stock valued at $1,007,000 after buying an additional 9,865 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Delta Air Lines by 14.7% in the 2nd quarter. Sound Income Strategies LLC now owns 1,911 shares of the transportation company's stock worth $94,000 after acquiring an additional 245 shares during the period. Avior Wealth Management LLC grew its position in Delta Air Lines by 179.3% in the second quarter. Avior Wealth Management LLC now owns 6,760 shares of the transportation company's stock valued at $332,000 after acquiring an additional 4,340 shares in the last quarter. Signature Resources Capital Management LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at approximately $25,000. Finally, Signaturefd LLC lifted its position in shares of Delta Air Lines by 0.9% during the second quarter. Signaturefd LLC now owns 141,270 shares of the transportation company's stock worth $6,948,000 after purchasing an additional 1,238 shares in the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DAL shares. Seaport Global Securities raised their target price on Delta Air Lines from $69.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Dbs Bank raised their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. upped their target price on Delta Air Lines from $72.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Citigroup increased their target price on Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Bernstein Bank lifted their price target on shares of Delta Air Lines from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.56.

Delta Air Lines Stock Performance

Shares of DAL opened at $57.13 on Monday. The stock has a 50 day moving average of $58.08 and a 200 day moving average of $50.89. 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 12 month low of $34.74 and a 12 month high of $69.98. The company has a market capitalization of $37.30 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.74 and a beta of 1.51.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.09. The firm had revenue of $15.51 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 business's revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $2.36 EPS. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines's payout ratio is 10.87%.

Insider Buying and Selling

In related news, CEO Edward H. Bastian sold 35,000 shares of Delta Air Lines stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the sale, the chief executive officer owned 632,823 shares of the company's stock, valued at approximately $35,615,278.44. This trade represents a 5.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 45,423 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president owned 131,731 shares in the company, valued at $7,318,974.36. This represents a 25.64% decrease in their ownership of the stock. 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 three months. Insiders own 0.96% of the company's stock.

Delta Air Lines Company 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.

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