Perpetual Ltd Invests $1.27 Million in Delta Air Lines, Inc. (NYSE:DAL)

Perpetual Ltd purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,078 shares of the transportation company's stock, valued at approximately $1,268,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Delta Air Lines by 33.5% in the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock valued at $555,000 after purchasing an additional 2,302 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of 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 purchasing an additional 261 shares during the last quarter. Advisor OS LLC purchased a new stake in Delta Air Lines in the 4th quarter valued at approximately $205,000. Whipplewood Advisors LLC acquired a new stake in Delta Air Lines during the 4th quarter valued at $67,000. Finally, New York Life Investment Management LLC increased its position in Delta Air Lines by 2.0% during the fourth quarter. New York Life Investment Management LLC now owns 85,094 shares of the transportation company's stock worth $5,148,000 after buying an additional 1,638 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company's stock.

Wall Street Analysts Forecast Growth

DAL has been the subject of a number of analyst reports. Bank of America cut their price target on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Wall Street Zen downgraded shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Jefferies Financial Group reaffirmed a "hold" rating and set a $46.00 price target (down from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. The Goldman Sachs Group lowered their price target on shares of Delta Air Lines from $83.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Citigroup reduced their price objective on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Delta Air Lines has a consensus rating of "Moderate Buy" and an average price target of $61.67.

Delta Air Lines Trading Down 0.3%

Shares of Delta Air Lines stock traded down $0.16 during trading hours on Tuesday, reaching $49.02. The stock had a trading volume of 4,842,654 shares, compared to its average volume of 9,760,351. The firm has a market capitalization of $32.01 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 2.51 and a beta of 1.51. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.83. The firm has a 50 day simple moving average of $47.65 and a two-hundred day simple moving average of $53.20.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 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 business had revenue of $12.98 billion during the quarter, compared to analysts' expectations of $13.85 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The company's quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 1.53%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date is Thursday, July 31st. Delta Air Lines's dividend payout ratio is 10.64%.

About Delta Air Lines

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.