Strategic Investment Advisors MI Decreases Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Strategic Investment Advisors MI trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,991 shares of the transportation company’s stock after selling 854 shares during the period. Strategic Investment Advisors MI’s holdings in Delta Air Lines were worth $479,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DAL. Kayne Anderson Rudnick Investment Management LLC raised its position 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 valued at $32,000 after purchasing an additional 431 shares during the last quarter. Graney & King LLC purchased a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $34,000. Continuum Advisory LLC increased its stake in shares of Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock valued at $35,000 after buying an additional 179 shares during the period. Crowley Wealth Management Inc. bought a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $45,000. Finally, Millstone Evans Group LLC purchased a new stake in Delta Air Lines in the fourth quarter worth $46,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DAL shares. Wall Street Zen downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Susquehanna reduced their price target on shares of Delta Air Lines from $80.00 to $50.00 and set a “positive” rating on the stock in a research report on Monday, April 7th. Raymond James Financial decreased their price target 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. Citigroup cut their price objective on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, Sanford C. Bernstein set a $60.00 target price on Delta Air Lines and gave the stock an “outperform” rating in a report on Wednesday, June 18th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $48.35 on Thursday. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $31.57 billion, a P/E ratio of 8.57, a PEG ratio of 2.51 and a beta of 1.51. The stock’s 50 day moving average is $47.12 and its 200 day moving average is $53.59.

Delta Air Lines (NYSE:DAL) last released 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 28.18% and a net margin of 5.91%. The company had revenue of $12.98 billion during the quarter, compared to the consensus estimate of $13.85 billion. During the same period last year, the firm posted $0.45 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that Delta Air Lines, Inc. will post 7.63 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, August 21st. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.15. This represents a $0.75 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, July 31st. Delta Air Lines’s dividend payout ratio (DPR) is currently 10.64%.

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.