Intech Investment Management LLC Has $15.28 Million Stake in Delta Air Lines, Inc. $DAL

Intech Investment Management LLC lifted its position in Delta Air Lines, Inc. (NYSE:DAL) by 333.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 350,474 shares of the transportation company’s stock after purchasing an additional 269,703 shares during the period. Intech Investment Management LLC’s holdings in Delta Air Lines were worth $15,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Delta Air Lines by 33.5% in the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock valued at $555,000 after acquiring an additional 2,302 shares during the period. Ethic Inc. acquired a new position in Delta Air Lines during the 4th quarter worth about $474,000. Focus Partners Wealth increased its holdings in shares of Delta Air Lines by 84.2% in the fourth quarter. Focus Partners Wealth now owns 35,878 shares of the transportation company’s stock valued at $2,277,000 after purchasing an additional 16,404 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Delta Air Lines by 14.9% during the 4th quarter. Lazard Asset Management LLC now owns 8,087 shares of the transportation company’s stock worth $489,000 after purchasing an additional 1,050 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Delta Air Lines by 25.4% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 203,684 shares of the transportation company’s stock valued at $12,323,000 after buying an additional 41,293 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Trading Down 1.6%

NYSE:DAL opened at $60.75 on Wednesday. The firm’s fifty day moving average is $56.75 and its 200-day moving average is $50.56. The firm has a market cap of $39.67 billion, a P/E ratio of 8.80, a P/E/G ratio of 1.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 0.38. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.09. The company had revenue of $15.51 billion for the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.Delta Air Lines’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 earnings per share. Equities analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st were issued a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.15. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. Delta Air Lines’s dividend payout ratio is 10.87%.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Steven M. Sear sold 18,000 shares of Delta Air Lines stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total value of $1,007,280.00. Following the transaction, the executive vice president owned 97,505 shares in the company, valued at $5,456,379.80. This trade represents a 15.58% 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, EVP Alain Bellemare sold 45,423 shares of Delta Air Lines stock in a transaction on Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the completion of the transaction, the executive vice president directly owned 131,731 shares in the company, valued at approximately $7,318,974.36. The trade was a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,473 shares of company stock worth $7,663,496 in the last ninety days. Insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bernstein Bank upped their price objective on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Delta Air Lines from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Morgan Stanley upped their target price on shares of Delta Air Lines from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 11th. UBS Group set a $72.00 price target on Delta Air Lines in a research note on Friday, July 11th. Finally, Barclays raised their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines has an average rating of “Buy” and an average target price of $66.21.

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.