Delta Air Lines, Inc. (NYSE:DAL) Stake Raised by PGGM Investments

PGGM Investments grew its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 56.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,643 shares of the transportation company’s stock after purchasing an additional 8,522 shares during the period. PGGM Investments’ holdings in Delta Air Lines were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in DAL. V Square Quantitative Management LLC grew its position in Delta Air Lines by 15.6% in the second quarter. V Square Quantitative Management LLC now owns 7,569 shares of the transportation company’s stock worth $359,000 after buying an additional 1,022 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Delta Air Lines by 7.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 57,094 shares of the transportation company’s stock worth $2,709,000 after acquiring an additional 4,029 shares during the last quarter. Foguth Wealth Management LLC. acquired a new position in shares of Delta Air Lines in the 2nd quarter worth $234,000. Friedenthal Financial purchased a new stake in shares of Delta Air Lines during the second quarter valued at $779,000. Finally, Wedmont Private Capital boosted its position in shares of Delta Air Lines by 43.0% in the 2nd quarter. Wedmont Private Capital now owns 11,355 shares of the transportation company’s stock valued at $495,000 after purchasing an additional 3,414 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock traded down $0.83 during trading on Wednesday, reaching $38.67. The company’s stock had a trading volume of 5,923,190 shares, compared to its average volume of 9,718,443. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The stock has a 50-day moving average price of $45.34 and a two-hundred day moving average price of $45.91. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $24.95 billion, a P/E ratio of 5.56, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.68 EPS. As a group, sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be issued a $0.15 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.55%. Delta Air Lines’s payout ratio is 8.63%.

Analyst Ratings Changes

A number of analysts have commented on DAL shares. HSBC assumed coverage on shares of Delta Air Lines in a research note on Monday, May 13th. They set a “buy” rating and a $72.80 price objective for the company. Citigroup upped their price target on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Jefferies Financial Group decreased their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Sanford C. Bernstein decreased their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Finally, TD Cowen dropped their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $60.70.

Insider Buying and Selling

In related news, Director Willie Cw Chiang acquired 10,000 shares of the stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $43.90 per share, with a total value of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.96% of the stock is currently owned by company insiders.

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.