Hourglass Capital LLC Grows Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Hourglass Capital LLC boosted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 37.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,044 shares of the transportation company's stock after buying an additional 28,674 shares during the period. Hourglass Capital LLC's holdings in Delta Air Lines were worth $4,624,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Boston Partners bought a new position in shares of Delta Air Lines during the fourth quarter valued at $328,398,000. Ninety One UK Ltd increased its stake in Delta Air Lines by 1,469.9% during the 1st quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company's stock valued at $144,273,000 after purchasing an additional 3,098,237 shares in the last quarter. Norges Bank purchased a new position in Delta Air Lines in the fourth quarter worth about $152,342,000. Adage Capital Partners GP L.L.C. raised its holdings in Delta Air Lines by 405.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,054,285 shares of the transportation company's stock worth $184,784,000 after buying an additional 2,449,874 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Delta Air Lines by 66.9% in the first quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock worth $257,918,000 after buying an additional 2,370,795 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DAL. Raymond James Financial reduced their price target on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Sanford C. Bernstein set a $60.00 target price on Delta Air Lines and gave the stock an "outperform" rating in a report on Wednesday, June 18th. Susquehanna lowered their price target on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Jefferies Financial Group reaffirmed a "hold" rating and set a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. Finally, Citigroup dropped their price target on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.69.

Delta Air Lines Trading Down 0.1%

Shares of NYSE:DAL traded down $0.06 during trading on Friday, hitting $56.72. The company had a trading volume of 17,769,124 shares, compared to its average volume of 9,923,052. The stock has a market cap of $37.04 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49. 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 has a fifty day simple moving average of $49.43 and a two-hundred day simple moving average of $52.74. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98.

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

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be paid a $0.1875 dividend. The ex-dividend date is Thursday, July 31st. This represents a $0.75 annualized dividend and a yield of 1.32%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio (DPR) is presently 10.64%.

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.