PACK Private Wealth LLC Makes New Investment in Delta Air Lines, Inc. $DAL

PACK Private Wealth LLC bought a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,228 shares of the transportation company’s stock, valued at approximately $208,000.

Several other hedge funds have also recently modified their holdings of the stock. New York State Common Retirement Fund boosted its holdings in shares of Delta Air Lines by 1.8% in the second quarter. New York State Common Retirement Fund now owns 345,925 shares of the transportation company’s stock valued at $17,013,000 after acquiring an additional 6,000 shares in the last quarter. Norges Bank purchased a new position in Delta Air Lines during the second quarter worth about $27,351,000. Patient Capital Management LLC lifted its position in Delta Air Lines by 17.1% in the second quarter. Patient Capital Management LLC now owns 899,700 shares of the transportation company’s stock valued at $44,247,000 after purchasing an additional 131,432 shares during the period. Scotia Capital Inc. purchased a new stake in Delta Air Lines in the 2nd quarter valued at approximately $229,000. Finally, Level Four Advisory Services LLC acquired a new position in Delta Air Lines during the 2nd quarter worth approximately $259,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DAL. HSBC raised their price target on Delta Air Lines from $69.20 to $73.70 and gave the company a “buy” rating in a report on Friday, October 10th. Seaport Global Securities raised their target price on Delta Air Lines from $69.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Wolfe Research decreased their target price on shares of Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday, November 17th. Wall Street Zen downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Friday. Finally, Raymond James Financial raised their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “strong-buy” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $71.68.

Delta Air Lines Trading Up 0.1%

Shares of DAL stock opened at $64.31 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $58.90 and a 200-day simple moving average of $55.78. The stock has a market cap of $41.99 billion, a P/E ratio of 9.06, 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 EPS for the quarter. The firm had revenue of $8.40 billion for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. On average, analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, October 16th. Delta Air Lines’s payout ratio is 10.56%.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total value of $1,453,722.59. Following the transaction, the executive vice president directly owned 81,109 shares in the company, valued at approximately $5,055,523.97. This represents a 22.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the transaction, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. This represents a 46.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by corporate insiders.

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.