LTS One Management LP Makes New $392,000 Investment in Delta Air Lines, Inc. $DAL

Key Points

• LTS One Management LP has invested $392,000 in Delta Air Lines by purchasing 9,000 shares, making Delta its 20th largest position in the portfolio.
• Multiple institutional investors, including Vanguard Group Inc. and Bank of New York Mellon Corp, have increased their stakes in Delta Air Lines, indicating strong interest from large investors.
• Delta Air Lines has seen upgrades in target prices from several analysts, with an average consensus price target now at $66.21, reflecting positive sentiment in the market.

LTS One Management LP bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,000 shares of the transportation company's stock, valued at approximately $392,000. Delta Air Lines accounts for 0.1% of LTS One Management LP's investment portfolio, making the stock its 20th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Delta Air Lines by 0.7% in the first quarter. Vanguard Group Inc. now owns 72,924,506 shares of the transportation company's stock valued at $3,179,508,000 after acquiring an additional 514,264 shares during the period. Invesco Ltd. boosted its position in shares of Delta Air Lines by 30.2% in the first quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company's stock valued at $315,788,000 after acquiring an additional 1,681,464 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Delta Air Lines by 66.9% in the first quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock valued at $257,918,000 after acquiring an additional 2,370,795 shares during the period. Northern Trust Corp boosted its position in shares of Delta Air Lines by 9.5% in the fourth quarter. Northern Trust Corp now owns 5,182,789 shares of the transportation company's stock valued at $313,559,000 after acquiring an additional 447,560 shares during the period. Finally, Castle Hook Partners LP boosted its position in shares of Delta Air Lines by 27.4% in the fourth quarter. Castle Hook Partners LP now owns 4,746,535 shares of the transportation company's stock valued at $287,165,000 after acquiring an additional 1,019,498 shares during the period. Institutional investors own 69.93% of the company's stock.

Wall Street Analyst Weigh In

DAL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. TD Cowen upped their target price on Delta Air Lines from $55.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Jefferies Financial Group upped their target price on Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, July 14th. Wolfe Research upped their target price on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Finally, Susquehanna set a $65.00 target price on Delta Air Lines and gave the company a "positive" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Delta Air Lines has an average rating of "Buy" and a consensus price target of $66.21.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 45,423 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the transaction, the executive vice president owned 131,731 shares of the company's stock, valued at $7,318,974.36. The trade was a 25.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter W. Carter sold 17,550 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total value of $1,003,684.50. Following the transaction, the executive vice president directly owned 191,442 shares in the company, valued at $10,948,567.98. This trade represents a 8.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,473 shares of company stock worth $7,663,496. Corporate insiders own 0.88% of the company's stock.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $61.25 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The stock has a fifty day moving average price of $54.46 and a two-hundred day moving average price of $50.85. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98. The firm has a market capitalization of $39.99 billion, a P/E ratio of 8.88, a P/E/G ratio of 1.91 and a beta of 1.56.

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, beating the consensus estimate of $2.01 by $0.09. The business had revenue of $15,507,000 billion for the quarter, compared to analysts' expectations of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $2.36 earnings per share. As a group, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, July 31st were given a $0.1875 dividend. The ex-dividend date was Thursday, July 31st. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's payout ratio is presently 10.87%.

About Delta Air Lines

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.