Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 15.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 758,914 shares of the transportation company's stock after purchasing an additional 102,211 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Delta Air Lines worth $33,089,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of DAL. Kayne Anderson Rudnick Investment Management LLC raised its stake in Delta Air Lines by 414.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock worth $32,000 after acquiring an additional 431 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after purchasing an additional 179 shares in the last quarter. Hara Capital LLC bought a new stake in Delta Air Lines in the 1st quarter valued at approximately $35,000. N.E.W. Advisory Services LLC bought a new stake in Delta Air Lines in the 1st quarter valued at approximately $40,000. Finally, Private Wealth Management Group LLC raised its stake in shares of Delta Air Lines by 104.8% during the 1st quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock worth $43,000 after purchasing an additional 507 shares in the last quarter. Institutional investors own 69.93% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on DAL. Susquehanna Bancshares boosted their target price on Delta Air Lines from $51.00 to $65.00 and gave the stock a "positive" rating in a report on Friday, July 11th. JPMorgan Chase & Co. increased their target price on Delta Air Lines from $66.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Citigroup raised their price objective on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research report on Friday, July 11th. Barclays raised their price objective on Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, UBS Group set a $72.00 target price on Delta Air Lines in a research report 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.21.
Check Out Our Latest Research Report on Delta Air Lines
Insider Buying and Selling
In other news, EVP Alain Bellemare sold 45,423 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total value of $2,523,701.88. Following the transaction, the executive vice president directly owned 131,731 shares in the company, valued at $7,318,974.36. This trade represents a 25.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven M. Sear sold 18,000 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president owned 97,505 shares in the company, valued at approximately $5,456,379.80. This trade represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,973 shares of company stock worth $7,511,746. 0.96% of the stock is currently owned by corporate insiders.
Delta Air Lines Price Performance
Delta Air Lines stock traded up $1.02 during midday trading on Wednesday, hitting $59.46. 9,096,360 shares of the company's stock were exchanged, compared to its average volume of 10,871,597. The stock has a 50-day moving average price of $52.04 and a two-hundred day moving average price of $51.33. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98. 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 company has a market cap of $38.82 billion, a P/E ratio of 8.62, a PEG ratio of 1.67 and a beta of 1.56.
Delta Air Lines (NYSE:DAL - Get Free Report) last issued its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.09. The company had revenue of $15,507,000 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%. Delta Air Lines's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.36 EPS. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share 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. Investors of record on Thursday, July 31st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, July 31st. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio (DPR) is currently 10.87%.
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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