Corient Private Wealth LLC Raises Stock Holdings in Delta Air Lines, Inc. $DAL

Corient Private Wealth LLC boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 29.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 189,365 shares of the transportation company’s stock after buying an additional 42,895 shares during the quarter. Corient Private Wealth LLC’s holdings in Delta Air Lines were worth $13,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DAL. Capital International Investors grew its holdings in Delta Air Lines by 4.4% in the 4th quarter. Capital International Investors now owns 24,211,101 shares of the transportation company’s stock worth $1,680,249,000 after acquiring an additional 1,012,265 shares during the last quarter. State Street Corp raised its stake 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 acquiring an additional 165,729 shares during the last quarter. Geode Capital Management LLC boosted 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 worth $1,215,766,000 after purchasing an additional 202,865 shares during the period. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 7,994,004 shares during the period. Finally, Morgan Stanley grew its stake in shares of Delta Air Lines by 0.5% in the fourth quarter. Morgan Stanley now owns 12,310,804 shares of the transportation company’s stock worth $854,370,000 after purchasing an additional 56,455 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Sanford C. Bernstein upped their price target on Delta Air Lines from $88.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Jefferies Financial Group boosted their target price on Delta Air Lines from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Weiss Ratings downgraded Delta Air Lines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 6th. UBS Group raised their price target on Delta Air Lines from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.68.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $86.75 on Wednesday. Delta Air Lines, Inc. has a fifty-two week low of $48.12 and a fifty-two week high of $87.39. The stock’s 50 day simple moving average is $75.43 and its two-hundred day simple moving average is $70.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The stock has a market cap of $56.99 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.22 and a beta of 1.30.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 EPS. As a group, analysts expect that Delta Air Lines, Inc. will post 5.34 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, July 9th. Delta Air Lines’s dividend payout ratio is currently 12.54%.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Allison C. Ausband sold 9,710 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately $10,552,904. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alain Bellemare sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the sale, the executive vice president owned 95,025 shares in the company, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 149,635 shares of company stock worth $10,833,855. 0.80% of the stock is owned by corporate insiders.

More Delta Air Lines News

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Bank of America raised its price target on Delta to $93 from $78 and kept a buy rating, signaling confidence in further upside. Bank of America raises Delta price target
• Positive Sentiment: Argus also lifted its target to $100 from $85 and reiterated a buy rating, adding to the bullish analyst momentum. Argus raises Delta price target
• Positive Sentiment: Josh Brown recommended sticking with Delta as one of three winning stocks, saying its recent outperformance supports owning it for the long term. Josh Brown recommends Delta
• Positive Sentiment: Berkshire Hathaway disclosed a large new stake in Delta Air Lines, which investors may interpret as a major vote of confidence from a highly respected value investor. Berkshire buys Delta shares
• Neutral Sentiment: Delta shareholders backed the current board and governance structure at the annual meeting, removing a potential source of uncertainty but not changing the company’s operating outlook. Delta shareholders back board governance status quo
• Neutral Sentiment: CEO Ed Bastian said airline ticket prices should ease only when more supply enters the market, highlighting industry capacity constraints rather than a company-specific issue. Delta CEO on ticket prices

Delta Air Lines Company Profile

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.