Cercano Management LLC Buys New Position in Delta Air Lines, Inc. $DAL

Cercano Management LLC bought a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 338,267 shares of the transportation company’s stock, valued at approximately $16,636,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Foundations Investment Advisors LLC boosted its stake in shares of Delta Air Lines by 2.6% in the second quarter. Foundations Investment Advisors LLC now owns 7,844 shares of the transportation company’s stock valued at $386,000 after purchasing an additional 196 shares during the period. JT Stratford LLC increased its stake in Delta Air Lines by 1.2% during the 1st quarter. JT Stratford LLC now owns 16,403 shares of the transportation company’s stock worth $715,000 after buying an additional 200 shares during the period. Nwam LLC lifted its holdings in Delta Air Lines by 3.1% during the 2nd quarter. Nwam LLC now owns 7,042 shares of the transportation company’s stock worth $377,000 after buying an additional 212 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Delta Air Lines by 26.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,028 shares of the transportation company’s stock valued at $51,000 after buying an additional 218 shares during the period. Finally, one8zero8 LLC grew its stake in shares of Delta Air Lines by 1.1% in the first quarter. one8zero8 LLC now owns 21,405 shares of the transportation company’s stock worth $933,000 after acquiring an additional 225 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DAL. Susquehanna increased their price objective on Delta Air Lines from $68.00 to $70.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Seaport Global Securities increased their price target on Delta Air Lines from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Jefferies Financial Group boosted their price objective on Delta Air Lines from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. UBS Group upped their target price on shares of Delta Air Lines from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, HSBC raised their target price on shares of Delta Air Lines from $69.20 to $73.70 and gave the company a “buy” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $71.53.

Insiders Place Their Bets

In related news, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total value of $1,453,722.59. Following the completion of the sale, the executive vice president directly owned 81,109 shares of the company’s stock, valued at $5,055,523.97. This represents a 22.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Huerta sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total value of $151,750.00. Following the transaction, the director owned 33,245 shares in the company, valued at $2,017,971.50. This represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 39,833 shares of company stock valued at $2,463,585. 0.88% of the stock is currently owned by insiders.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $58.35 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The firm’s 50 day moving average is $58.87 and its two-hundred day moving average is $54.83. The firm has a market capitalization of $38.10 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.35 and a beta of 1.52.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The business had revenue of $8.40 billion during the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. Research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, October 16th. Delta Air Lines’s dividend payout ratio is currently 10.56%.

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.