Black Cypress Capital Management LLC Reduces Position in Delta Air Lines, Inc. (NYSE:DAL)

Black Cypress Capital Management LLC reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,288 shares of the transportation company’s stock after selling 5,486 shares during the period. Delta Air Lines comprises approximately 2.7% of Black Cypress Capital Management LLC’s portfolio, making the stock its 14th largest position. Black Cypress Capital Management LLC’s holdings in Delta Air Lines were worth $3,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DAL. WASHINGTON TRUST Co grew its position in shares of Delta Air Lines by 7.5% in the 4th quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company’s stock valued at $130,000 after buying an additional 150 shares during the last quarter. Hemington Wealth Management increased its position in shares of Delta Air Lines by 48.1% during 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 in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Delta Air Lines by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 8,555 shares of the transportation company’s stock valued at $554,000 after purchasing an additional 155 shares during the last quarter. Mason & Associates Inc boosted its position in shares of Delta Air Lines by 3.2% in the 4th quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company’s stock valued at $308,000 after purchasing an additional 160 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in Delta Air Lines by 1.2% during the 4th quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company’s stock worth $865,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DAL. StockNews.com downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James decreased their target price on shares of Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group dropped their price target on Delta Air Lines from $83.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. TD Cowen lifted their target price on Delta Air Lines from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Dbs Bank cut Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.06.

Delta Air Lines Stock Up 3.9 %

DAL stock opened at $40.88 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $52.37 and its 200 day moving average price is $57.69. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company has a market cap of $26.43 billion, a P/E ratio of 7.67, a P/E/G ratio of 0.75 and a beta of 1.23.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). The firm had revenue of $12.98 billion for the quarter, compared to analyst estimates of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.45 EPS. On average, research analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s payout ratio is currently 11.26%.

Insider Buying and Selling at Delta Air Lines

In related news, CEO Edward H. Bastian sold 91,710 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the transaction, the chief executive officer now owns 439,819 shares of the company’s stock, valued at approximately $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William C. Carroll sold 8,400 shares of Delta Air Lines stock in a transaction that occurred on 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 directly owns 19,756 shares of the company’s stock, valued at $1,304,291.12. The trade was a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is owned by insiders.

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.