OP Asset Management Ltd bought a new position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,760 shares of the transportation company's stock, valued at approximately $1,114,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Delta Air Lines by 33.5% during the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock worth $555,000 after purchasing an additional 2,302 shares during the period. Acadian Asset Management LLC bought a new position in Delta Air Lines during the 1st quarter valued at approximately $178,000. Sivia Capital Partners LLC purchased a new stake in Delta Air Lines in the 2nd quarter worth approximately $555,000. Marshall Wace LLP lifted its holdings in Delta Air Lines by 102.2% in the 2nd quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company's stock worth $385,000 after buying an additional 357,825 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Delta Air Lines by 10.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company's stock worth $2,859,000 after buying an additional 5,564 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on DAL shares. Seaport Research Partners upped their target price on Delta Air Lines from $81.00 to $83.00 and gave the company a "buy" rating in a report on Thursday, April 9th. BNP Paribas Exane reduced their price objective on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. TD Cowen upped their price objective on shares of Delta Air Lines from $84.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Jefferies Financial Group raised their target price on shares of Delta Air Lines from $81.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Finally, Bank of America lifted their target price on shares of Delta Air Lines from $78.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $86.26.
View Our Latest Stock Analysis on DAL
Delta Air Lines Trading Up 0.6%
NYSE DAL opened at $93.10 on Tuesday. The firm has a market capitalization of $61.16 billion, a PE ratio of 13.57, a P/E/G ratio of 1.50 and a beta of 1.30. The stock's 50 day moving average is $77.18 and its 200 day moving average is $71.27. Delta Air Lines, Inc. has a twelve month low of $48.24 and a twelve month high of $95.14. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.54.
Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. Research analysts forecast that Delta Air Lines, Inc. will post 5.36 earnings per share for the current fiscal year.
Delta Air Lines Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors 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 is an increase from Delta Air Lines's previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a yield of 0.9%. Delta Air Lines's payout ratio is presently 12.54%.
Insiders Place Their Bets
In other Delta Air Lines news, EVP Allison C. Ausband sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the transaction, the executive vice president owned 133,854 shares of the company's stock, valued at approximately $10,574,466. This trade represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction on 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. This represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 149,635 shares of company stock worth $10,833,855. 0.80% of the stock is currently owned by company insiders.
More Delta Air Lines News
Here are the key news stories impacting Delta Air Lines this week:
About Delta Air Lines
(
Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Delta Air Lines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Delta Air Lines wasn't on the list.
While Delta Air Lines currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
