Saba Capital Management L.P. Has $1.73 Million Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Saba Capital Management L.P. decreased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,598 shares of the transportation company's stock after selling 6,018 shares during the quarter. Saba Capital Management L.P.'s holdings in Delta Air Lines were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. WASHINGTON TRUST Co grew its holdings in shares of Delta Air Lines by 7.5% during the fourth quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company's stock valued at $130,000 after buying an additional 150 shares in the last quarter. Hemington Wealth Management boosted its position in Delta Air Lines by 48.1% during the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock valued at $28,000 after purchasing an additional 154 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in Delta Air Lines by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 8,555 shares of the transportation company's stock valued at $554,000 after purchasing an additional 155 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Delta Air Lines by 1.2% during the fourth quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company's stock valued at $865,000 after purchasing an additional 173 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in Delta Air Lines by 3.7% during the fourth quarter. Ballentine Partners LLC now owns 5,267 shares of the transportation company's stock valued at $319,000 after purchasing an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Price Performance

NYSE DAL traded down $1.08 during trading hours on Tuesday, reaching $50.11. 9,041,991 shares of the company's stock were exchanged, compared to its average volume of 9,535,242. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The stock has a market cap of $32.72 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average of $44.19 and a 200-day moving average of $56.12.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). The firm had revenue of $12.98 billion during the quarter, compared to analyst estimates of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, equities research analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, May 13th. Delta Air Lines's dividend payout ratio (DPR) is presently 10.64%.

Analyst Upgrades and Downgrades

DAL has been the subject of several research analyst reports. Citigroup cut their price objective on Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. StockNews.com cut Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Barclays reduced their target price on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. Finally, TD Cowen raised their target price on Delta Air Lines from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $62.08.

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.