NorthCrest Asset Manangement LLC Acquires New Stake in Delta Air Lines, Inc. (NYSE:DAL)

NorthCrest Asset Manangement LLC acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,172 shares of the transportation company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DAL. New Wave Wealth Advisors LLC acquired a new stake in Delta Air Lines in the fourth quarter valued at $27,000. Hemington Wealth Management grew its holdings in Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after acquiring an additional 154 shares during the period. Roxbury Financial LLC acquired a new stake in Delta Air Lines during the 4th quarter worth about $29,000. Crews Bank & Trust acquired a new stake in Delta Air Lines during the 4th quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after acquiring an additional 431 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $48.39 on Friday. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company’s 50 day moving average price is $44.38 and its two-hundred day moving average price is $55.47. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The stock has a market cap of $31.60 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.75 and a beta of 1.46.

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 the consensus estimate of $0.84 by ($0.38). Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. During the same period in the prior year, the business earned $0.45 EPS. Delta Air Lines’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. Delta Air Lines’s dividend payout ratio is currently 10.64%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group set a $66.00 price target on Delta Air Lines and gave the stock a “buy” rating in a report on Monday, May 19th. Sanford C. Bernstein reissued an “outperform” rating on shares of Delta Air Lines in a research report on Tuesday, May 13th. Barclays cut their price objective on shares of Delta Air Lines from $80.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. TD Cowen increased their price objective on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $46.00 price objective (down previously from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.08.

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.