Bernard Wealth Management Corp. Buys New Position in Delta Air Lines, Inc. (NYSE:DAL)

Bernard Wealth Management Corp. purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,790 shares of the transportation company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DAL. Renaissance Technologies LLC bought a new position in Delta Air Lines during the fourth quarter worth $2,353,000. Bank of Nova Scotia grew its holdings in Delta Air Lines by 59.9% during the 4th quarter. Bank of Nova Scotia now owns 77,756 shares of the transportation company’s stock worth $4,704,000 after acquiring an additional 29,117 shares during the period. Cerity Partners LLC raised its position in shares of Delta Air Lines by 2.6% in the 4th quarter. Cerity Partners LLC now owns 321,242 shares of the transportation company’s stock worth $18,777,000 after acquiring an additional 8,016 shares in the last quarter. FMR LLC lifted its stake in shares of Delta Air Lines by 29.3% in the 4th quarter. FMR LLC now owns 9,955,818 shares of the transportation company’s stock valued at $602,327,000 after purchasing an additional 2,254,560 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Delta Air Lines by 46.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,571 shares of the transportation company’s stock valued at $216,000 after purchasing an additional 1,128 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analyst Weigh In

DAL has been the topic of several recent analyst reports. Dbs Bank lowered Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America reduced their price target on shares of Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Raymond James dropped their price objective on shares of Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Delta Air Lines currently has an average rating of “Moderate Buy” and an average price target of $67.20.

Delta Air Lines Stock Down 0.1 %

Shares of NYSE:DAL opened at $37.21 on Tuesday. The business’s 50 day moving average is $55.71 and its 200 day moving average is $58.15. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The stock has a market cap of $24.05 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 0.75 and a beta of 1.23. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the previous year, the firm earned $1.28 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines’s dividend payout ratio is presently 11.26%.

Insider Activity at Delta Air Lines

In other news, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 52,789 shares of the company’s stock, valued at $3,425,478.21. This represents a 41.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward H. Bastian sold 91,710 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is owned by 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.