Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,420 shares of the transportation company's stock after selling 5,223 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Delta Air Lines were worth $1,544,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DAL. Brighton Jones LLC increased its stake in Delta Air Lines by 33.5% during the 4th quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock worth $555,000 after buying an additional 2,302 shares during the period. Bank of New York Mellon Corp increased its stake in Delta Air Lines by 8.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,544,750 shares of the transportation company's stock worth $214,457,000 after buying an additional 274,067 shares during the period. Lake Street Advisors Group LLC increased its stake in Delta Air Lines by 5.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,881 shares of the transportation company's stock worth $295,000 after buying an additional 261 shares during the period. Advisor OS LLC purchased a new stake in Delta Air Lines during the 4th quarter worth approximately $205,000. Finally, Simmons Bank purchased a new stake in Delta Air Lines during the 4th quarter worth approximately $226,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group set a $66.00 price objective on shares of Delta Air Lines and gave the company a "buy" rating in a research report on Monday, May 19th. Sanford C. Bernstein set a $60.00 price objective on shares of Delta Air Lines and gave the company an "outperform" rating in a research report on Wednesday, June 18th. Wall Street Zen downgraded shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Barclays dropped their price objective on shares of Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Dbs Bank downgraded shares of Delta Air Lines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.67.

Delta Air Lines Stock Up 1.3%

Shares of Delta Air Lines stock traded up $0.66 during trading hours on Friday, hitting $49.63. The company had a trading volume of 10,170,389 shares, compared to its average volume of 9,776,597. The company's 50-day moving average is $47.46 and its two-hundred day moving average is $53.41. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.38 and a quick ratio of 0.33. The company has a market cap of $32.41 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 2.48 and a beta of 1.51.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.91% and a return on equity of 28.18%. The company had revenue of $12.98 billion during the quarter, compared to analyst estimates of $13.85 billion. During the same quarter in the previous year, the company posted $0.45 EPS. The company's quarterly revenue was down 5.6% on a year-over-year basis. Analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm 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 dividend of $0.1875 per share. The ex-dividend date is Thursday, July 31st. This represents a $0.75 dividend on an annualized basis and a yield of 1.51%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio is currently 10.64%.

Delta Air Lines 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.