TD Asset Management Inc Increases Stake in Delta Air Lines, Inc. (NYSE:DAL)

Key Points

• TD Asset Management Inc increased its stake in Delta Air Lines by 8.1%, acquiring an additional 41,204 shares during the first quarter, bringing its total ownership to approximately 547,991 shares valued at $23.9 million.
• Several large investors have also boosted their stakes in Delta, with notable increases from Kayne Anderson Rudnick and Continuum Advisory, showing significant interest in the company's stock.
• Delta Air Lines recently declared a quarterly dividend of $0.1875, up from the previous $0.15, reflecting its ongoing commitment to returning capital to shareholders.

TD Asset Management Inc raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547,991 shares of the transportation company's stock after acquiring an additional 41,204 shares during the period. TD Asset Management Inc owned approximately 0.08% of Delta Air Lines worth $23,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock valued at $32,000 after buying an additional 431 shares during the period. Continuum Advisory LLC grew its position in Delta Air Lines by 44.2% in the 4th 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. Hara Capital LLC purchased a new stake in Delta Air Lines in the first quarter worth $35,000. Private Wealth Management Group LLC increased its stake in Delta Air Lines by 104.8% in the first quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock worth $43,000 after purchasing an additional 507 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in Delta Air Lines in the first quarter worth $47,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Steven M. Sear sold 18,000 shares of the firm'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 completion of the sale, the executive vice president owned 97,505 shares of the company's stock, valued at approximately $5,456,379.80. This trade represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter W. Carter sold 17,550 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total value of $1,003,684.50. Following the completion of the sale, the executive vice president directly owned 191,442 shares of the company's stock, valued at approximately $10,948,567.98. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,973 shares of company stock worth $7,511,746 in the last three months. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

DAL has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of Delta Air Lines in a research note on Friday, July 11th. Jefferies Financial Group increased their target price on Delta Air Lines from $56.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, July 14th. BNP Paribas Exane increased their target price on Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Wolfe Research increased their target price on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Finally, Susquehanna set a $65.00 target price on Delta Air Lines and gave the stock a "positive" rating in a research note on Friday, July 11th. Three 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.21.

Delta Air Lines Stock Down 0.8%

DAL stock traded down $0.42 during trading on Thursday, reaching $53.18. 6,536,059 shares of the company traded hands, compared to its average volume of 11,156,214. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98. The business has a 50 day simple moving average of $51.22 and a 200 day simple moving average of $52.15. The company has a market capitalization of $34.72 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 1.66 and a beta of 1.49. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.09. The business had revenue of $15,507,000 billion during the quarter, compared to the consensus estimate 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 quarterly revenue 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, equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be issued a $0.1875 dividend. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. This represents a $0.75 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines's dividend payout ratio is 8.70%.

Delta Air Lines Company 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.