Palestra Capital Management LLC Lowers Position in Delta Air Lines, Inc. (NYSE:DAL)

Palestra Capital Management LLC lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 862,974 shares of the transportation company's stock after selling 68,216 shares during the quarter. Delta Air Lines accounts for 1.4% of Palestra Capital Management LLC's portfolio, making the stock its 26th largest position. Palestra Capital Management LLC owned approximately 0.13% of Delta Air Lines worth $52,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new position in Delta Air Lines during the fourth quarter valued at approximately $27,000. Hemington Wealth Management increased its holdings in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Delta Air Lines in the 4th quarter valued at $29,000. Crews Bank & Trust acquired a new position in shares of Delta Air Lines in the 4th quarter valued at $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 worth $32,000 after buying an additional 431 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now directly owns 52,789 shares of the company's stock, valued at approximately $3,425,478.21. This trade represents a 41.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.96% of the company's stock.

Delta Air Lines Trading Down 1.7 %

Shares of NYSE DAL traded down $0.77 during trading on Tuesday, reaching $44.74. The stock had a trading volume of 4,566,296 shares, compared to its average volume of 9,252,686. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The company has a market cap of $29.21 billion, a P/E ratio of 8.39, a PEG ratio of 0.75 and a beta of 1.46. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The business's 50-day moving average price is $44.97 and its 200-day moving average price is $56.63.

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

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%. Delta Air Lines's dividend payout ratio is currently 10.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. TD Cowen increased their price target 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. 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. UBS Group lowered Delta Air Lines from a "buy" rating to a "neutral" rating and decreased their target price for the company from $77.00 to $42.00 in a research report on Monday, April 7th. Finally, Raymond James dropped their target price on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.06.

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.