Jackson Hole Capital Partners LLC boosted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 23.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,790 shares of the transportation company's stock after purchasing an additional 6,283 shares during the period. Jackson Hole Capital Partners LLC's holdings in Delta Air Lines were worth $1,430,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ninety One UK Ltd increased its holdings in Delta Air Lines by 1,469.9% in the first 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 during the period. Norges Bank bought a new position in shares of Delta Air Lines during the 4th quarter worth about $152,342,000. Adage Capital Partners GP L.L.C. increased its stake in 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 valued at $184,784,000 after buying an additional 2,449,874 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Delta Air Lines by 66.9% during the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock worth $257,918,000 after purchasing an additional 2,370,795 shares during the last quarter. Finally, FMR LLC grew its stake in Delta Air Lines by 29.3% in the 4th quarter. FMR LLC now owns 9,955,818 shares of the transportation company's stock valued at $602,327,000 after buying an additional 2,254,560 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.
Delta Air Lines Price Performance
Shares of DAL traded up $0.39 during trading hours on Monday, hitting $55.25. 3,357,985 shares of the stock were exchanged, compared to its average volume of 11,118,110. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. The stock's 50-day moving average price is $50.84 and its two-hundred day moving average price is $52.28. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 1.70 and a beta of 1.49. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98.
Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The firm had revenue of $15,507,000 billion for the quarter, compared to analyst estimates of $16.16 billion. During the same quarter in the prior year, the company earned $2.36 EPS. Delta Air Lines's revenue was down .1% on a year-over-year basis. Research analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.
Delta Air Lines Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.36%. 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 dividend payout ratio (DPR) is 8.70%.
Insiders Place Their Bets
In related news, CEO Edward H. Bastian sold 35,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total transaction of $1,969,800.00. Following the transaction, the chief executive officer owned 632,823 shares in the company, valued at $35,615,278.44. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven M. Sear sold 18,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the transaction, the executive vice president owned 97,505 shares in the company, valued at $5,456,379.80. This represents a 15.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,973 shares of company stock worth $7,511,746 over the last 90 days. Insiders own 0.96% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, July 14th. BNP Paribas Exane increased their target price on Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Citigroup lifted their price objective on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Delta Air Lines in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and a consensus target price of $66.21.
Read Our Latest Analysis on DAL
About Delta Air Lines
(
Free Report)
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.
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