Intact Investment Management Inc. Buys Shares of 85,100 Delta Air Lines, Inc. (NYSE:DAL)

Intact Investment Management Inc. bought a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 85,100 shares of the transportation company's stock, valued at approximately $3,710,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DAL. Boston Partners bought a new stake in Delta Air Lines during the 4th quarter valued at $328,398,000. Norges Bank bought a new position in shares of Delta Air Lines in the 4th quarter worth $152,342,000. Adage Capital Partners GP L.L.C. raised its position in shares of Delta Air Lines by 405.3% in the 4th 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 acquiring an additional 2,449,874 shares in the last quarter. FMR LLC raised its position in shares of Delta Air Lines by 29.3% in the 4th quarter. FMR LLC now owns 9,955,818 shares of the transportation company's stock worth $602,327,000 after acquiring an additional 2,254,560 shares in the last quarter. Finally, Sanders Capital LLC raised its position in shares of Delta Air Lines by 6.9% in the 4th quarter. Sanders Capital LLC now owns 29,764,524 shares of the transportation company's stock worth $1,800,754,000 after acquiring an additional 1,922,932 shares in the last quarter. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Price Performance

DAL stock traded up $1.12 during mid-day trading on Monday, reaching $48.32. 16,297,938 shares of the company's stock were exchanged, compared to its average volume of 9,752,104. The company has a market cap of $31.55 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 2.39 and a beta of 1.51. The stock's 50 day moving average is $46.63 and its 200 day moving average is $53.77. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.38 and a quick ratio of 0.33.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). The firm had revenue of $12.98 billion during the quarter, compared to analyst estimates of $13.85 billion. Delta Air Lines had a return on equity of 28.18% and a net margin of 5.91%. The business's revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts expect that Delta Air Lines, Inc. will post 7.63 EPS 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. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, July 31st. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's payout ratio is currently 10.64%.

Analyst Ratings Changes

Several research analysts recently issued reports on DAL shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. TD Cowen upped their target price on Delta Air Lines from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Bank of America cut their price objective on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Susquehanna cut their price objective 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. Finally, Sanford C. Bernstein set a $60.00 price objective on Delta Air Lines and gave the company an "outperform" rating in a report on Wednesday, June 18th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.67.

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.