Arrowstreet Capital Limited Partnership Takes Position in Delta Air Lines, Inc. $DAL

Arrowstreet Capital Limited Partnership acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 437,516 shares of the transportation company’s stock, valued at approximately $21,517,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Delta Air Lines by 2.3% during the second quarter. Vanguard Group Inc. now owns 74,572,577 shares of the transportation company’s stock worth $3,667,479,000 after purchasing an additional 1,648,071 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Delta Air Lines by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 16,757,932 shares of the transportation company’s stock worth $822,127,000 after buying an additional 527,570 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Delta Air Lines during the 2nd quarter worth $386,364,000. Invesco Ltd. raised its position in shares of Delta Air Lines by 30.2% in the 1st quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock worth $315,788,000 after buying an additional 1,681,464 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Delta Air Lines by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 6,214,853 shares of the transportation company’s stock valued at $305,646,000 after acquiring an additional 299,308 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Delta Air Lines

In other news, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the sale, the senior vice president directly owned 15,816 shares in the company, valued at $968,730. This trade represents a 46.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John E. Laughter sold 23,323 shares of Delta Air Lines stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total value of $1,453,722.59. Following the sale, the executive vice president directly owned 81,109 shares in the company, valued at approximately $5,055,523.97. The trade was a 22.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

DAL has been the subject of several research analyst reports. TD Cowen upped their price target on Delta Air Lines from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday. Wolfe Research decreased their target price on Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Rothschild & Co Redburn increased their target price on shares of Delta Air Lines from $65.00 to $72.00 in a research report on Tuesday, October 14th. Jefferies Financial Group cut their price target on shares of Delta Air Lines from $74.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Finally, UBS Group lifted their price target on shares of Delta Air Lines from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $72.37.

Delta Air Lines Stock Down 0.1%

NYSE DAL opened at $67.20 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The business has a 50 day moving average price of $59.74 and a two-hundred day moving average price of $56.38. The stock has a market cap of $43.88 billion, a PE ratio of 9.46, a P/E/G ratio of 1.56 and a beta of 1.37.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data 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 for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th were issued a $0.1875 dividend. The ex-dividend date was Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.1%. Delta Air Lines’s payout ratio is currently 10.56%.

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.