Convergence Investment Partners LLC Has $1.09 Million Stake in Delta Air Lines, Inc. $DAL

Convergence Investment Partners LLC reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 32.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,354 shares of the transportation company’s stock after selling 7,990 shares during the period. Convergence Investment Partners LLC’s holdings in Delta Air Lines were worth $1,087,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Capital International Investors lifted its stake in shares of Delta Air Lines by 4.4% in the fourth quarter. Capital International Investors now owns 24,211,101 shares of the transportation company’s stock valued at $1,680,249,000 after buying an additional 1,012,265 shares in the last quarter. State Street Corp grew its holdings in shares of Delta Air Lines by 0.7% during the fourth quarter. State Street Corp now owns 23,163,644 shares of the transportation company’s stock valued at $1,607,557,000 after buying an additional 165,729 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Delta Air Lines by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company’s stock valued at $1,215,766,000 after buying an additional 202,865 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Delta Air Lines by 137.4% during the fourth quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company’s stock worth $958,538,000 after acquiring an additional 7,994,004 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Delta Air Lines by 0.5% during the fourth quarter. Morgan Stanley now owns 12,310,804 shares of the transportation company’s stock worth $854,370,000 after acquiring an additional 56,455 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL opened at $84.61 on Wednesday. The stock has a 50 day moving average of $83.04 and a 200 day moving average of $73.29. The company has a market capitalization of $55.64 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.04 and a beta of 1.29. Delta Air Lines, Inc. has a 12 month low of $50.44 and a 12 month high of $95.68. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. The business had revenue of $17.67 billion for the quarter, compared to analysts’ expectations of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.10 earnings per share. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 6.66 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 9th will be issued a $0.215 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. Delta Air Lines’s payout ratio is presently 14.26%.

Insider Activity

In other Delta Air Lines news, EVP Alain Bellemare sold 25,000 shares of Delta Air Lines stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total value of $2,036,000.00. Following the sale, the executive vice president owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allison C. Ausband sold 9,710 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the completion of the transaction, the executive vice president owned 138,854 shares in the company, valued at approximately $10,552,904. The trade was a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,331 shares of company stock valued at $5,036,638. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DAL. Raymond James Financial cut shares of Delta Air Lines from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $80.00 to $104.00 in a research report on Monday, July 6th. Cantor Fitzgerald set a $112.00 price objective on Delta Air Lines in a report on Tuesday, July 14th. Barclays increased their price objective on Delta Air Lines from $85.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. HSBC dropped their target price on Delta Air Lines from $80.20 to $79.30 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Susquehanna lifted their target price on Delta Air Lines from $78.00 to $108.00 and gave the company a “positive” rating in a research report on Tuesday, July 7th. Twenty-three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Delta Air Lines has a consensus rating of “Moderate Buy” and a consensus target price of $100.40.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.