Steamboat Capital Partners LLC raised its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 30.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,000 shares of the transportation company's stock after purchasing an additional 15,095 shares during the quarter. Steamboat Capital Partners LLC's holdings in Delta Air Lines were worth $2,834,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new position in Delta Air Lines in the first quarter valued at about $31,000. Zions Bancorporation National Association UT bought a new position in Delta Air Lines in the first quarter valued at about $33,000. Continuum Advisory LLC raised its position in Delta Air Lines by 44.2% in the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock valued at $35,000 after purchasing an additional 179 shares during the last quarter. Hara Capital LLC bought a new position in Delta Air Lines in the first quarter valued at about $35,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Delta Air Lines in the first quarter valued at about $40,000. 69.93% of the stock is currently owned by institutional investors.
Insider Transactions at Delta Air Lines
In other news, EVP Alain Bellemare sold 45,423 shares of Delta Air Lines stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total value of $2,523,701.88. Following the completion of the transaction, the executive vice president directly owned 131,731 shares in the company, valued at approximately $7,318,974.36. The trade was a 25.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven M. Sear sold 18,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the transaction, the executive vice president owned 97,505 shares of the company's stock, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,473 shares of company stock valued at $7,663,496. 0.96% of the stock is currently owned by insiders.
Delta Air Lines Stock Up 0.2%
Delta Air Lines stock traded up $0.14 during mid-day trading on Wednesday, reaching $61.27. The stock had a trading volume of 7,235,489 shares, compared to its average volume of 6,557,641. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. The stock's 50-day simple moving average is $55.54 and its 200-day simple moving average is $50.65. The firm has a market capitalization of $40.01 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 1.93 and a beta of 1.51.
Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.09. The company had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.The company's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company earned $2.36 earnings per share. On average, sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.
Delta Air Lines Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st were paid a $0.1875 dividend. The ex-dividend date was Thursday, July 31st. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. Delta Air Lines's dividend payout ratio is presently 10.87%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on DAL shares. HSBC increased their price target on Delta Air Lines from $64.00 to $69.20 in a research note on Friday, July 11th. Citigroup increased their price target on Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a research note on Friday, July 11th. Susquehanna set a $65.00 price target on Delta Air Lines and gave the company a "positive" rating in a research note on Friday, July 11th. Wolfe Research raised their target price on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Finally, The Goldman Sachs Group raised their target price on Delta Air Lines from $60.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Delta Air Lines currently has a consensus rating of "Buy" and a consensus target price of $66.21.
View Our Latest Stock Analysis on Delta Air Lines
About Delta Air Lines
(
Free Report)
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.
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