iA Global Asset Management Inc. Buys 106,841 Shares of Delta Air Lines, Inc. $DAL

Key Points

• iA Global Asset Management more than doubled its Delta Air Lines position in Q1, buying 106,841 additional shares and bringing its total stake to 198,983 shares worth about $13.2 million.
• Wall Street sentiment is mostly positive: UBS and Citi both raised their price targets on Delta and reiterated Buy ratings, while analysts overall rate the stock a Moderate Buy with a consensus target of $87.51.
• Delta has also shown solid operating momentum, with its latest earnings topping estimates and revenue growing 9.4% year over year; the company recently raised its quarterly dividend to $0.215 per share.

iA Global Asset Management Inc. raised its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 116.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,983 shares of the transportation company's stock after acquiring an additional 106,841 shares during the quarter. iA Global Asset Management Inc.'s holdings in Delta Air Lines were worth $13,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lloyd Advisory Services LLC. purchased a new position in Delta Air Lines in the fourth quarter valued at approximately $31,000. SWAN Capital LLC increased its position in Delta Air Lines by 1,016.0% in the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company's stock worth $32,000 after buying an additional 508 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in Delta Air Lines in the fourth quarter worth $34,000. Cornerstone Planning Group LLC increased its position in Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company's stock worth $34,000 after buying an additional 429 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Delta Air Lines in the fourth quarter valued at $35,000. 69.93% of the stock is owned by institutional investors.

Delta Air Lines News Summary

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: UBS recently reiterated a Buy rating on Delta and raised its price target to $107 from $98, reinforcing the view that the stock still has room to run. This is Why Delta Air Lines, Inc. (DAL) is a Top Stock to Buy Now for Good Returns
• Positive Sentiment: Citi also lifted its price target on DAL to $106 from $79 and reiterated a Buy rating, citing expectations for a strong airline earnings season. Citi Lifts Delta Air Lines (DAL) Target Ahead of Expected Strong Airline Earnings Season
• Positive Sentiment: Several recent articles highlight Delta’s strong run and continued investor interest, with shares extending their advance over multiple sessions as the market looks ahead to earnings. Delta Air Lines shares advance for seven consecutive session
• Neutral Sentiment: Delta is scheduled to report second-quarter results on July 10, and analysts are revising forecasts ahead of the call, making earnings the next major catalyst for the stock. Delta Air Lines Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: The FAA is moving toward a mandate for aircraft technology that could improve visibility of nearby planes; this is industry-wide regulatory news rather than a direct Delta-specific development. After Deadly D.C. Crash, FAA Moves Toward Sweeping Aircraft-Technology Mandate
• Negative Sentiment: A report about a rough Delta flight with injuries could weigh on sentiment in the near term by reviving safety concerns. “2 ½ Minutes of Terror”: Delta Air Lines Stock NYSE: DAL Slips After Rough Flight With Injuries

Analyst Ratings Changes

Several research firms have recently weighed in on DAL. Weiss Ratings downgraded Delta Air Lines from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 6th. Rothschild & Co Redburn lowered 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. Sanford C. Bernstein upped their price objective on shares of Delta Air Lines from $88.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, June 17th. BNP Paribas Exane cut their target price on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating for the company in a research report on Tuesday, April 21st. Finally, Morgan Stanley lifted their target price on shares of Delta Air Lines from $90.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.51.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $93.75 on Wednesday. The company has a 50 day moving average of $77.62 and a 200 day moving average of $71.44. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. The stock has a market cap of $61.59 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.51 and a beta of 1.30. Delta Air Lines, Inc. has a 12 month low of $48.24 and a 12 month high of $95.14.

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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the company posted $0.46 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 5.36 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 9th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.19. The ex-dividend date is Thursday, July 9th. Delta Air Lines's dividend payout ratio (DPR) is 10.93%.

Insider Buying and Selling

In related news, EVP Allison C. Ausband sold 5,000 shares of Delta Air Lines stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the executive vice president owned 133,854 shares of the company's stock, valued at approximately $10,574,466. This trade represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alain Bellemare sold 25,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total value of $2,036,000.00. Following the transaction, the executive vice president owned 95,025 shares of the company's stock, valued at approximately $7,738,836. The trade was a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 149,635 shares of company stock worth $10,833,855. Corporate insiders own 0.80% of the company's stock.

Delta Air Lines Profile

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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