Hosking Partners LLP Has $36.78 Million Stake in Delta Air Lines, Inc. $DAL

Key Points

• Hosking Partners LLP boosted its Delta Air Lines stake by 2.7% in the fourth quarter, bringing its holdings to 529,900 shares valued at about $36.78 million.
• Delta posted better-than-expected quarterly results, earning $0.64 per share on $14.20 billion in revenue, both above analyst estimates, while revenue rose 9.4% year over year.
• The company also announced a quarterly dividend of $0.1875 per share, and analysts remain generally bullish with a Moderate Buy consensus and an average price target of $79.47.

Hosking Partners LLP increased its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 529,900 shares of the transportation company's stock after purchasing an additional 14,089 shares during the period. Delta Air Lines makes up 1.2% of Hosking Partners LLP's investment portfolio, making the stock its 24th largest holding. Hosking Partners LLP owned about 0.08% of Delta Air Lines worth $36,775,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DAL. Wellington Management Group LLP lifted its holdings in shares of Delta Air Lines by 54.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,817,783 shares of the transportation company's stock worth $330,159,000 after purchasing an additional 2,058,744 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Delta Air Lines by 23.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,661,911 shares of the transportation company's stock worth $434,813,000 after purchasing an additional 1,447,058 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Delta Air Lines by 16,044.7% in the 3rd quarter. Marshall Wace LLP now owns 1,263,320 shares of the transportation company's stock worth $71,693,000 after purchasing an additional 1,255,495 shares in the last quarter. Lansdowne Partners UK LLP lifted its holdings in shares of Delta Air Lines by 47.0% in the 3rd quarter. Lansdowne Partners UK LLP now owns 2,284,257 shares of the transportation company's stock worth $129,632,000 after purchasing an additional 730,368 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Delta Air Lines by 24.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,791,581 shares of the transportation company's stock worth $158,422,000 after purchasing an additional 550,480 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Trading Down 0.0%

Shares of DAL opened at $73.31 on Monday. The business has a 50-day moving average of $66.34 and a 200 day moving average of $66.29. Delta Air Lines, Inc. has a fifty-two week low of $45.28 and a fifty-two week high of $76.39. The firm has a market cap of $48.16 billion, a P/E ratio of 10.69, a price-to-earnings-growth 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.

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

Delta Air Lines Dividend Announcement

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

Insider Buying and Selling at Delta Air Lines

In other news, EVP John E. Laughter sold 69,304 shares of Delta Air Lines stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $68.15, for a total transaction of $4,723,067.60. Following the completion of the sale, the executive vice president owned 69,369 shares in the company, valued at approximately $4,727,497.35. This trade represents a 49.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 100,000 shares of Delta Air Lines stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $70.26, for a total value of $7,026,000.00. Following the sale, the chief executive officer owned 1,363,448 shares of the company's stock, valued at approximately $95,795,856.48. This trade represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 204,925 shares of company stock valued at $14,323,395 in the last quarter. 0.80% of the stock is currently owned by corporate insiders.

Delta Air Lines News Roundup

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DAL. Weiss Ratings cut Delta Air Lines from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 6th. Zacks Research upgraded Delta Air Lines from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 15th. Barclays raised their price objective on Delta Air Lines from $65.00 to $85.00 and gave the company an "overweight" rating in a research note on Monday, January 12th. Rothschild & Co Redburn dropped their price objective on Delta Air Lines from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Finally, Bank of America dropped their price objective on Delta Air Lines from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Delta Air Lines presently has an average rating of "Moderate Buy" and a consensus price target of $79.47.

About Delta Air Lines

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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