U S Global Investors Inc. Cuts Position in Delta Air Lines, Inc. $DAL

Key Points

• U S Global Investors Inc. reduced its position in Delta Air Lines by 1.9%, retaining 1,766,167 shares, which now represent about 10.2% of its portfolio.
• Several institutional investors increased their stakes in Delta, with notable increases from Pacer Advisors Inc. (5,224.6%) and Ameriprise Financial Inc. (347.4%) during the first quarter.
• Delta Air Lines announced a quarterly dividend of $0.1875, which will be payable on November 6th, representing an annualized dividend yield of 1.3% based on their current stock price.

U S Global Investors Inc. reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,766,167 shares of the transportation company's stock after selling 34,078 shares during the quarter. Delta Air Lines comprises about 10.2% of U S Global Investors Inc.'s portfolio, making the stock its 2nd biggest position. U S Global Investors Inc. owned approximately 0.27% of Delta Air Lines worth $86,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DAL. Kingstone Capital Partners Texas LLC acquired a new position in Delta Air Lines during the 2nd quarter worth approximately $386,364,000. Pacer Advisors Inc. raised its stake in Delta Air Lines by 5,224.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company's stock worth $189,081,000 after buying an additional 4,255,262 shares during the period. AQR Capital Management LLC raised its stake in Delta Air Lines by 149.9% during the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company's stock worth $246,487,000 after buying an additional 3,577,489 shares during the period. Ameriprise Financial Inc. raised its stake in Delta Air Lines by 347.4% during the 1st quarter. Ameriprise Financial Inc. now owns 4,232,974 shares of the transportation company's stock worth $184,909,000 after buying an additional 3,286,741 shares during the period. Finally, Ninety One UK Ltd raised its stake in Delta Air Lines by 1,469.9% during the 1st quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company's stock worth $144,273,000 after buying an additional 3,098,237 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD Cowen upped their price target on Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. UBS Group upped their price target on Delta Air Lines from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday. Citigroup increased their price objective on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised Delta Air Lines from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Delta Air Lines from $63.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines has an average rating of "Buy" and a consensus price target of $69.89.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $57.56 on Friday. The company has a market cap of $37.59 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.54 and a beta of 1.50. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The business has a 50 day moving average price of $58.65 and a 200-day moving average price of $51.53. 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 released its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $8.40 billion during the quarter. Delta Air Lines had a return on equity of 24.85% and a net margin of 7.36%. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. Delta Air Lines's dividend payout ratio is currently 10.56%.

Insiders Place Their Bets

In other news, EVP Peter W. Carter sold 17,550 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 191,442 shares of the company's stock, valued at $10,948,567.98. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total value of $1,007,280.00. Following the completion of the transaction, the executive vice president directly owned 97,505 shares of the company's stock, valued at approximately $5,456,379.80. This represents a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,050 shares of company stock valued at $5,139,795. Insiders own 0.88% of the company's stock.

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.

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