LSV Asset Management Raises Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Key Points

• LSV Asset Management has increased its stake in Delta Air Lines by 6.5%, holding 3,356,042 shares valued at approximately $146.32 million as of its latest SEC filing.
• Delta Air Lines reported earnings of $2.10 EPS for the last quarter, surpassing analyst expectations of $2.01, though revenue fell slightly year over year.
• The company has declared an increased quarterly dividend of $0.1875 per share, which represents an annualized yield of 1.5%, up from its previous quarterly dividend of $0.15.

LSV Asset Management increased its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,356,042 shares of the transportation company's stock after buying an additional 205,560 shares during the quarter. LSV Asset Management owned about 0.51% of Delta Air Lines worth $146,323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in Delta Air Lines by 414.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock valued at $32,000 after purchasing an additional 431 shares during the period. Continuum Advisory LLC raised its position in Delta Air Lines by 44.2% in the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after purchasing an additional 179 shares during the period. Hara Capital LLC purchased a new stake in Delta Air Lines in the first quarter valued at approximately $35,000. N.E.W. Advisory Services LLC purchased a new stake in Delta Air Lines in the first quarter valued at approximately $40,000. Finally, Private Wealth Management Group LLC raised its position in Delta Air Lines by 104.8% in the first quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock valued at $43,000 after purchasing an additional 507 shares during the period. Hedge funds and other institutional investors own 69.93% of the company's stock.

Insider Activity

In related news, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the completion of the transaction, the executive vice president directly owned 131,731 shares of the company's stock, valued at $7,318,974.36. This represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter W. Carter sold 17,550 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the transaction, the executive vice president directly owned 191,442 shares of the company's stock, valued at $10,948,567.98. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,973 shares of company stock valued at $7,511,746. Company insiders own 0.96% of the company's stock.

Delta Air Lines Stock Performance

Shares of DAL traded up $1.41 during mid-day trading on Monday, hitting $52.56. 7,474,051 shares of the company's stock were exchanged, compared to its average volume of 11,653,705. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The firm has a market capitalization of $34.32 billion, a P/E ratio of 7.62, a P/E/G ratio of 1.60 and a beta of 1.56. The business's 50 day moving average is $51.29 and its two-hundred day moving average is $51.85. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly 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. The firm had revenue of $15,507,000 billion during 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 firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.36 earnings per share. On average, equities analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. This represents a $0.75 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines's dividend payout ratio is currently 10.87%.

Wall Street Analyst Weigh In

DAL has been the topic of a number of research analyst reports. HSBC boosted their target price on Delta Air Lines from $64.00 to $69.20 in a research report on Friday, July 11th. Jefferies Financial Group upped their price objective on Delta Air Lines from $56.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, July 14th. Susquehanna set a $65.00 price objective on Delta Air Lines and gave the stock a "positive" rating in a research report on Friday, July 11th. Wall Street Zen lowered Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Finally, Raymond James Financial boosted their target price on shares of Delta Air Lines from $60.00 to $68.00 in a research note on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of "Moderate Buy" and a consensus target price of $66.21.

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.