Lederer & Associates Investment Counsel CA Invests $766,000 in Delta Air Lines, Inc. (NYSE:DAL)

Lederer & Associates Investment Counsel CA bought a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,571 shares of the transportation company’s stock, valued at approximately $766,000.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in Delta Air Lines by 69.4% in the 4th quarter. Pacer Advisors Inc. now owns 81,447 shares of the transportation company’s stock valued at $4,928,000 after acquiring an additional 33,356 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in Delta Air Lines by 12.0% during the fourth quarter. Mediolanum International Funds Ltd now owns 216,381 shares of the transportation company’s stock valued at $13,106,000 after buying an additional 23,169 shares during the last quarter. TriaGen Wealth Management LLC bought a new position in Delta Air Lines during the fourth quarter valued at approximately $423,000. KBC Group NV grew its holdings in Delta Air Lines by 27.8% during the 4th quarter. KBC Group NV now owns 72,377 shares of the transportation company’s stock valued at $4,379,000 after buying an additional 15,766 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Delta Air Lines by 123.7% in the 4th quarter. Van ECK Associates Corp now owns 9,392 shares of the transportation company’s stock worth $568,000 after acquiring an additional 5,194 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $48.67 on Thursday. 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’s fifty day moving average is $44.39 and its two-hundred day moving average is $55.68. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company has a market capitalization of $31.78 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). The firm had revenue of $12.98 billion during the quarter, compared to analysts’ expectations of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 13th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. Delta Air Lines’s dividend payout ratio is currently 10.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group set a $66.00 target price on shares of Delta Air Lines and gave the company a “buy” rating in a report on Monday, May 19th. Raymond James dropped their price objective 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. Barclays lowered their price target on shares of Delta Air Lines from $80.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Bank of America reduced their price objective on Delta Air Lines from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Finally, Citigroup lowered their price objective on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.08.

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.