Quantinno Capital Management LP Raises Stake in Delta Air Lines, Inc. $DAL

Key Points

• Quantinno Capital Management increased its Delta Air Lines stake by 4.0% in the first quarter, adding 44,581 shares for a total holding of 1.15 million shares valued at approximately $76.7 million. Institutional investors collectively own 69.93% of DAL.
• Analysts remain broadly bullish, with 23 Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $100.40. Several firms recently raised their targets to between $105 and $112.
• Delta reported quarterly EPS of $1.56, exceeding estimates of $1.49, while revenue rose 18.7% year over year to $17.67 billion. The company also increased its quarterly dividend to $0.215 per share, or $0.86 annualized.

Quantinno Capital Management LP increased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,154,253 shares of the transportation company's stock after purchasing an additional 44,581 shares during the quarter. Quantinno Capital Management LP owned 0.18% of Delta Air Lines worth $76,735,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp lifted its position in Delta Air Lines by 580.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 39,117 shares of the transportation company's stock valued at $2,600,000 after buying an additional 33,372 shares in the last quarter. Waverly Advisors LLC increased its position in shares of Delta Air Lines by 4.8% in the first quarter. Waverly Advisors LLC now owns 36,790 shares of the transportation company's stock worth $2,446,000 after acquiring an additional 1,673 shares in the last quarter. Bridgewater Advisors Inc. acquired a new stake in shares of Delta Air Lines in the first quarter worth $205,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Delta Air Lines by 320.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 107,799 shares of the transportation company's stock valued at $7,166,000 after acquiring an additional 82,158 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Delta Air Lines in the 1st quarter valued at $219,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DAL. Benchmark restated a "buy" rating on shares of Delta Air Lines in a report on Wednesday, July 8th. UBS Group increased their price target on Delta Air Lines from $107.00 to $112.00 and gave the company a "buy" rating in a report on Monday, July 13th. BMO Capital Markets raised their price objective on Delta Air Lines from $80.00 to $105.00 and gave the company an "outperform" rating in a research report on Thursday, July 2nd. Wells Fargo & Company boosted their price objective on Delta Air Lines from $75.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Finally, Susquehanna upped their target price on Delta Air Lines from $78.00 to $108.00 and gave the stock a "positive" rating in a research report on Tuesday, July 7th. Twenty-three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.40.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 25,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the transaction, the executive vice president directly owned 95,025 shares of the company's stock, valued at $7,738,836. This trade represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allison C. Ausband sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the executive vice president directly owned 133,854 shares of the company's stock, valued at $10,574,466. The trade was a 3.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 65,331 shares of company stock worth $5,036,638 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $89.48 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.48. Delta Air Lines, Inc. has a fifty-two week low of $50.44 and a fifty-two week high of $95.68. The business has a 50 day moving average price of $84.56 and a two-hundred day moving average price of $73.80. The firm has a market cap of $58.84 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.09 and a beta of 1.29.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.07. The company had revenue of $17.67 billion for the quarter, compared to analyst estimates of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.Delta Air Lines's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 EPS. Sell-side analysts expect that Delta Air Lines, Inc. will post 6.54 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 9th will be paid a $0.215 dividend. 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. The ex-dividend date is Thursday, July 9th. Delta Air Lines's payout ratio is presently 14.26%.

Delta Air Lines 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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