Navigation Group LLC Invests $1.06 Million in Delta Air Lines, Inc. $DAL

Key Points

• Navigation Group LLC opened a new position in Delta Air Lines, buying 15,914 shares valued at about $1.06 million in the first quarter.
• Delta continues to draw bullish analyst attention, with firms like TD Cowen, Morgan Stanley, and Wells Fargo raising price targets and most analysts rating the stock a Buy. The consensus target now sits around $100.40.
• The airline posted better-than-expected quarterly results, reporting EPS of $1.56 on revenue of $17.67 billion, and it increased its quarterly dividend to $0.215 per share for a 1.0% annualized yield.

Navigation Group LLC purchased a new position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,914 shares of the transportation company's stock, valued at approximately $1,058,000.

Several other hedge funds have also recently bought and sold shares of DAL. Capital International Investors grew its holdings in Delta Air Lines by 4.4% in the fourth quarter. Capital International Investors now owns 24,211,101 shares of the transportation company's stock valued at $1,680,249,000 after purchasing an additional 1,012,265 shares during the last quarter. State Street Corp raised its stake in shares of Delta Air Lines by 0.7% during the 4th quarter. State Street Corp now owns 23,163,644 shares of the transportation company's stock worth $1,607,557,000 after buying an additional 165,729 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Delta Air Lines by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company's stock worth $1,215,766,000 after buying an additional 202,865 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Delta Air Lines by 137.4% in the 4th quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company's stock worth $958,538,000 after buying an additional 7,994,004 shares in the last quarter. Finally, Morgan Stanley grew its stake in Delta Air Lines by 0.5% in the 4th quarter. Morgan Stanley now owns 12,310,804 shares of the transportation company's stock valued at $854,370,000 after acquiring an additional 56,455 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Key Delta Air Lines News

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

• Positive Sentiment: TD Cowen lifted its price target on Delta Air Lines to $112 and kept a buy rating, suggesting analysts see more upside ahead. Delta Air Lines NYSE: DAL Price Target Raised to $112.00 at TD Cowen
• Positive Sentiment: Multiple market write-ups highlighted strong travel demand and described Delta as a momentum and value stock, which may be supporting investor confidence. Why Delta Air Lines (DAL) is a Top Momentum Stock for the Long-Term
• Positive Sentiment: Reports also noted Delta’s healthy travel demand and additional bullish coverage, reinforcing the airline’s upbeat fundamental narrative. Delta Air Lines (DAL) Gains From Healthy Travel Demand
• Neutral Sentiment: Delta CEO Ed Bastian said cheaper jet fuel may not translate into lower airfares, implying pricing could stay firm even if fuel costs ease. Cheaper jet fuel won't lower airfares, Delta Air Lines CEO Ed Bastian says
• Neutral Sentiment: Investors are also watching broader industry factors like geopolitical tensions and oil-price moves, which could create near-term volatility for airlines. Thanks to Escalating Iran Tensions, Delta Air Lines Stock Could Face Turbulence

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $86.06 on Thursday. The company has a market cap of $56.60 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.05 and a beta of 1.29. Delta Air Lines, Inc. has a 12 month low of $50.44 and a 12 month high of $95.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35. The company has a 50-day simple moving average of $82.01 and a 200-day simple moving average of $72.86.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The business had revenue of $17.67 billion for the quarter, compared to the consensus estimate of $17.43 billion. During the same quarter in the prior year, the firm posted $2.10 earnings per share. The company's quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts anticipate that Delta Air Lines, Inc. will post 6.67 earnings per share for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.19. Delta Air Lines's dividend payout ratio is currently 14.26%.

Insiders Place Their Bets

In related news, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $76.00, for a total transaction of $737,960.00. Following the transaction, the executive vice president directly owned 138,854 shares in the company, valued at approximately $10,552,904. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 25,000 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total value of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares in the company, valued at approximately $7,738,836. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 65,331 shares of company stock worth $5,036,638. Corporate insiders own 0.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DAL. Morgan Stanley lifted their target price on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Cantor Fitzgerald set a $112.00 price target on shares of Delta Air Lines in a research report on Tuesday. Raymond James Financial cut shares of Delta Air Lines from a "strong-buy" rating to an "outperform" rating and raised their price objective for the stock from $80.00 to $104.00 in a research note on Monday, July 6th. Argus set a $105.00 price objective on Delta Air Lines in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on Delta Air Lines from $75.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, June 30th. Twenty-three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.40.

About Delta Air Lines

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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