Mirae Asset Global Investments Co. Ltd. Increases Position in Delta Air Lines, Inc. $DAL

Key Points

• Mirae Asset Global Investments increased its position in Delta Air Lines by 10.5%, bringing its total holdings to 79,035 shares valued at approximately $3.89 million according to the latest SEC filing.
• Several institutional investors made significant moves with Delta Air Lines, with Janney Montgomery Scott increasing its stake by 37.0% to own over 221,000 shares worth approximately $10.88 million.
• Delta Air Lines announced a quarterly dividend of $0.1875 per share, with a payout date set for November 6th, representing an annual yield of 1.3%.

Mirae Asset Global Investments Co. Ltd. increased its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 10.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,035 shares of the transportation company's stock after acquiring an additional 7,488 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Delta Air Lines were worth $3,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAL. Pure Financial Advisors LLC acquired a new position in shares of Delta Air Lines in the second quarter valued at about $301,000. Impact Capital Partners LLC purchased a new stake in Delta Air Lines in the second quarter valued at approximately $238,000. Poinciana Advisors Group LLC acquired a new position in Delta Air Lines in the 2nd quarter worth approximately $384,000. Capital Investment Advisors LLC increased its holdings in Delta Air Lines by 6.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 24,781 shares of the transportation company's stock worth $1,219,000 after buying an additional 1,596 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Delta Air Lines by 37.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 221,156 shares of the transportation company's stock worth $10,876,000 after buying an additional 59,761 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company's stock.

Insider Activity at Delta Air Lines

In other news, Director Michael P. Huerta sold 2,500 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the sale, the director owned 33,245 shares of the company's stock, valued at $2,017,971.50. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 35,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 632,823 shares in the company, valued at approximately $35,615,278.44. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,473 shares of company stock worth $7,663,496 over the last 90 days. Corporate insiders own 0.96% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BNP Paribas Exane upped their price objective on shares of Delta Air Lines from $58.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Barclays upped their price target on shares of Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Morgan Stanley lifted their price objective on Delta Air Lines from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Weiss Ratings restated a "buy (b-)" rating on shares of Delta Air Lines in a research note on Saturday, September 27th. Finally, HSBC raised their target price on Delta Air Lines from $64.00 to $69.20 in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Delta Air Lines presently has an average rating of "Buy" and an average target price of $67.84.

Delta Air Lines Trading Up 1.8%

Shares of Delta Air Lines stock opened at $58.30 on Tuesday. 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, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The firm has a market capitalization of $38.07 billion, a PE ratio of 8.45, a P/E/G ratio of 1.53 and a beta of 1.50. The firm's 50-day moving average price is $58.28 and its 200 day moving average price is $51.32.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.09. The business had revenue of $15.51 billion during 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 business's revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.36 earnings per share. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. Delta Air Lines's dividend payout ratio (DPR) is presently 10.87%.

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.

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