Delta Air Lines, Inc. (NYSE:DAL) Shares Bought by Hourglass Capital LLC

Hourglass Capital LLC grew its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,044 shares of the transportation company's stock after acquiring an additional 28,674 shares during the quarter. Hourglass Capital LLC's holdings in Delta Air Lines were worth $4,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DAL. Brighton Jones LLC increased its position 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 acquiring an additional 2,302 shares during the period. Assetmark Inc. grew its holdings in Delta Air Lines by 25.5% during the 4th quarter. Assetmark Inc. now owns 3,774 shares of the transportation company's stock worth $228,000 after acquiring an additional 768 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Delta Air Lines during the 4th quarter worth about $10,408,000. Arizona State Retirement System grew its holdings in Delta Air Lines by 1.3% during the 4th quarter. Arizona State Retirement System now owns 46,841 shares of the transportation company's stock worth $2,834,000 after acquiring an additional 613 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Delta Air Lines during the 4th quarter worth about $64,577,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Price Performance

Shares of DAL stock traded up $0.09 during mid-day trading on Wednesday, reaching $50.61. The stock had a trading volume of 12,788,175 shares, compared to its average volume of 9,845,055. 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 cap of $33.05 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 2.36 and a beta of 1.49. The business has a 50-day simple moving average of $48.69 and a 200 day simple moving average of $52.83. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.83.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). The firm had revenue of $12.98 billion for the quarter, compared to analysts' expectations of $13.85 billion. Delta Air Lines had a net margin of 5.91% and a return on equity of 28.18%. The business's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.75 dividend on an annualized basis and a yield of 1.48%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio (DPR) is currently 10.64%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DAL. Susquehanna lowered their price target on shares of Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Raymond James Financial lowered their price target on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Barclays dropped their target price on shares of Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Dbs Bank downgraded shares of Delta Air Lines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, UBS Group dropped their price objective on shares of Delta Air Lines from $66.00 to $63.00 and set a "buy" rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.42.

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.