Family Office Research LLC Acquires New Shares in Delta Air Lines, Inc. (NYSE:DAL)

Family Office Research LLC bought a new position in Delta Air Lines, Inc. (NYSE:DAL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 109,354 shares of the transportation company’s stock, valued at approximately $6,616,000. Delta Air Lines comprises about 2.9% of Family Office Research LLC’s holdings, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. New Wave Wealth Advisors LLC bought a new stake in shares of Delta Air Lines in the fourth quarter worth $27,000. Hemington Wealth Management boosted its position in Delta Air Lines by 48.1% in the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after purchasing an additional 154 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of Delta Air Lines during the 4th quarter valued at about $29,000. Crews Bank & Trust purchased a new stake in shares of Delta Air Lines during the 4th quarter valued at about $30,000. Finally, Modus Advisors LLC bought a new position in shares of Delta Air Lines in the 4th quarter worth approximately $33,000. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Down 11.1 %

Shares of DAL stock opened at $39.34 on Friday. The company’s fifty day simple moving average is $52.94 and its two-hundred day simple moving average is $57.75. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The stock has a market cap of $25.43 billion, a P/E ratio of 7.38, 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 earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). The firm had revenue of $12.98 billion during the quarter, compared to analysts’ expectations of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines’s payout ratio is 11.26%.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total value of $2,467,312.47. Following the sale, the executive vice president now owns 52,789 shares of the company’s stock, valued at approximately $3,425,478.21. This represents a 41.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William C. Carroll sold 8,400 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,304,291.12. This trade represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,886 shares of company stock worth $11,116,463 over the last 90 days. 0.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Bank of America cut their target price on shares of Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Dbs Bank cut Delta Air Lines from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Raymond James lowered their target price on Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. Finally, UBS Group downgraded Delta Air Lines from a “buy” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $42.00 in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Delta Air Lines presently has an average rating of “Moderate Buy” and a consensus price target of $62.77.

Delta Air Lines 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.