Russell Investments Group Ltd. Raises Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Key Points

• Russell Investments Group Ltd. has raised its position in Delta Air Lines by 3.9%, now owning approximately 0.42% of the company, valued at $119.4 million.
• Delta Air Lines recently declared an increased quarterly dividend of $0.1875 per share, up from $0.15, indicating a commitment to returning value to shareholders.
• Wall Street analysts remain positive, with the average price target for Delta Air Lines set at $66.21, reflecting a consensus rating of "Moderate Buy."

Russell Investments Group Ltd. boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,738,862 shares of the transportation company's stock after acquiring an additional 103,279 shares during the quarter. Russell Investments Group Ltd. owned 0.42% of Delta Air Lines worth $119,418,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in Delta Air Lines by 414.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock valued at $32,000 after acquiring an additional 431 shares during the last quarter. Continuum Advisory LLC increased its position in Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after acquiring an additional 179 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Delta Air Lines during the first quarter valued at $33,000. Hara Capital LLC purchased a new stake in Delta Air Lines during the first quarter valued at $35,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Delta Air Lines during the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DAL. HSBC raised their price objective on Delta Air Lines from $64.00 to $69.20 in a research note on Friday, July 11th. Sanford C. Bernstein restated an "outperform" rating on shares of Delta Air Lines in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of Delta Air Lines from $66.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Jefferies Financial Group increased their price objective on shares of Delta Air Lines from $56.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, July 14th. Finally, Morgan Stanley lifted their target price on shares of Delta Air Lines from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of "Moderate Buy" and a consensus price target of $66.21.

Insider Buying and Selling

In other news, CEO Edward H. Bastian sold 35,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the sale, the chief executive officer directly owned 632,823 shares of the company's stock, valued at $35,615,278.44. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alain Bellemare sold 45,423 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the completion of the sale, the executive vice president directly owned 131,731 shares of the company's stock, valued at $7,318,974.36. The trade was a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,973 shares of company stock valued at $7,511,746 over the last quarter. Company insiders own 0.88% of the company's stock.

Delta Air Lines Price Performance

Delta Air Lines stock traded up $1.31 during midday trading on Friday, reaching $60.27. 9,821,226 shares of the stock traded hands, compared to its average volume of 10,822,699. The stock's fifty day moving average is $52.46 and its 200-day moving average is $51.33. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The stock has a market cap of $39.35 billion, a P/E ratio of 8.73, a PEG ratio of 1.86 and a beta of 1.56. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The company had revenue of $15,507,000 billion during the quarter, compared to analyst estimates of $16.16 billion. During the same period in the prior year, the company earned $2.36 earnings per share. The firm's revenue was down .1% on a year-over-year basis. As a group, equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS 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. Stockholders of record on Thursday, July 31st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's dividend payout ratio is 10.87%.

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.