Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Delta Air Lines, Inc. $DAL

Key Points

• Mitsubishi UFJ Asset Management increased its Delta Air Lines stake by 2.6% in the fourth quarter, ending with 875,977 shares valued at about $60.5 million.
• Delta reported strong quarterly results, beating estimates with EPS of $0.64 on revenue of $14.20 billion, and its stock has also been helped by positive sentiment around higher fares and recent analyst optimism.
• Management and analysts remain active on the name: an executive vice president sold shares recently, while several firms raised price targets, leaving Delta with a Moderate Buy consensus and a target price around $79.47.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 875,977 shares of the transportation company's stock after acquiring an additional 21,887 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.13% of Delta Air Lines worth $60,495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC boosted its position in shares of Delta Air Lines by 90.6% during the third quarter. AlphaQuest LLC now owns 444 shares of the transportation company's stock worth $25,000 after buying an additional 211 shares during the period. Accredited Wealth Management LLC boosted its position in shares of Delta Air Lines by 1,983.3% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company's stock worth $28,000 after buying an additional 476 shares during the period. SWAN Capital LLC boosted its position in shares of Delta Air Lines by 1,016.0% during the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company's stock worth $32,000 after buying an additional 508 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Delta Air Lines during the fourth quarter worth $34,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Delta Air Lines by 451.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company's stock worth $34,000 after buying an additional 429 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: UBS raised its price target on Delta to $95, highlighting confidence in the airline’s premium-cabin strategy and potential for stronger earnings per share, which can boost investor sentiment. UBS Just Hiked Delta Air Lines Price Target to $95: Premium Cabin Strategy Targets $13 EPS
• Positive Sentiment: Delta has outperformed since its last earnings report, suggesting the market is still rewarding the company’s recent quarterly results and outlook. Why Is Delta (DAL) Up 7.8% Since Last Earnings Report?
• Positive Sentiment: Airfare pricing across the industry is rising sharply after Spirit’s liquidation, which could support Delta’s revenue per seat if demand remains firm. Airfares skyrocket as much as 218% on Spirit Airlines' busiest routes within just 48 hours of its May 2 liquidation

Delta Air Lines Stock Up 0.3%

Delta Air Lines stock opened at $73.31 on Friday. Delta Air Lines, Inc. has a 1-year low of $45.28 and a 1-year high of $76.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. The stock has a market cap of $48.16 billion, a PE ratio of 10.69, a P/E/G ratio of 1.07 and a beta of 1.25. The stock's fifty day moving average is $66.34 and its two-hundred day moving average is $66.29.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the firm earned $0.46 earnings per share. Delta Air Lines's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Delta Air Lines, Inc. will post 5.3 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, May 14th. This represents a $0.75 dividend on an annualized basis and a yield of 1.0%. Delta Air Lines's dividend payout ratio (DPR) is currently 10.93%.

Insiders Place Their Bets

In other news, EVP Alain Bellemare sold 20,621 shares of Delta Air Lines stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $72.75, for a total transaction of $1,500,177.75. Following the sale, the executive vice president owned 120,025 shares in the company, valued at approximately $8,731,818.75. The trade was a 14.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven M. Sear sold 38,600 shares of Delta Air Lines stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $75.05, for a total value of $2,896,930.00. Following the sale, the executive vice president owned 104,404 shares in the company, valued at $7,835,520.20. This trade represents a 26.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 278,737 shares of company stock valued at $19,868,268 in the last three months. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

DAL has been the subject of several research analyst reports. Evercore restated an "outperform" rating and set a $85.00 price target on shares of Delta Air Lines in a research report on Friday, April 17th. Jefferies Financial Group raised their price target on Delta Air Lines from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Sanford C. Bernstein restated an "outperform" rating and set a $81.00 price target on shares of Delta Air Lines in a research report on Wednesday, January 14th. Citigroup lifted their target price on Delta Air Lines from $77.00 to $79.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Finally, The Goldman Sachs Group lifted their target price on Delta Air Lines from $77.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Delta Air Lines has a consensus rating of "Moderate Buy" and a consensus target price of $79.47.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.

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