OP Asset Management Ltd Invests $1.11 Million in Delta Air Lines, Inc. $DAL

OP Asset Management Ltd acquired a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 16,760 shares of the transportation company’s stock, valued at approximately $1,114,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DAL. Lloyd Advisory Services LLC. purchased a new position in Delta Air Lines in the fourth quarter worth about $31,000. Camelot Portfolios LLC purchased a new stake in shares of Delta Air Lines during the 4th quarter valued at about $34,000. Byrne Asset Management LLC bought a new position in shares of Delta Air Lines in the 4th quarter worth approximately $35,000. Beacon Financial Strategies CORP bought a new position in shares of Delta Air Lines in the 4th quarter worth approximately $36,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock worth $34,000 after buying an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In related news, EVP Allison C. Ausband sold 9,710 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the completion of the transaction, the executive vice president directly owned 138,854 shares of the company’s stock, valued at approximately $10,552,904. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John E. Laughter sold 69,304 shares of Delta Air Lines stock in a transaction on Friday, April 10th. The shares were sold at an average price of $68.15, for a total transaction of $4,723,067.60. Following the completion of the sale, the executive vice president owned 69,369 shares in the company, valued at approximately $4,727,497.35. This represents a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 149,635 shares of company stock valued at $10,833,855. 0.80% of the stock is currently owned by corporate insiders.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $93.10 on Tuesday. The company has a market capitalization of $61.16 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $77.18 and its 200-day simple moving average is $71.27. Delta Air Lines, Inc. has a 52 week low of $48.24 and a 52 week high of $95.14.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the company earned $0.46 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect that Delta Air Lines, Inc. will post 5.36 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be given a dividend of $0.215 per share. The ex-dividend date is Thursday, July 9th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a dividend yield of 0.9%. Delta Air Lines’s dividend payout ratio (DPR) is 12.54%.

Key Stories Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Citi raised its price target on Delta Air Lines and reaffirmed a Buy rating ahead of the expected airline earnings season, signaling confidence in upcoming results. Citi Lifts Delta Air Lines (DAL) Target Ahead of Expected Strong Airline Earnings Season
• Positive Sentiment: UBS reiterated a Buy rating and lifted its target to $107, implying additional upside from current levels and reinforcing the bullish analyst view on DAL. This is Why Delta Air Lines, Inc. (DAL) is a Top Stock to Buy Now for Good Returns
• Neutral Sentiment: Delta is approaching its July 9 ex-dividend date and is being highlighted in dividend-stock roundups, which may support investor interest but is not a major fundamental catalyst by itself. 5 Best July Dividend Stocks to Buy
• Neutral Sentiment: Recent commentary also notes Delta’s sizable one-year rally, which may lead some investors to question whether more upside remains after the stock’s strong appreciation. Delta Air Lines (DAL) Stock After 88% One-Year Rally Is There Still Upside Potential
• Negative Sentiment: A report describing a rough flight with injuries could add a small overhang to sentiment, though it appears more headline-driven than fundamentally material. “2 ½ Minutes of Terror”: Delta Air Lines Stock (NYSE:DAL) Slips After Rough Flight With Injuries

Analyst Upgrades and Downgrades

DAL has been the subject of several recent research reports. Seaport Research Partners boosted their target price on shares of Delta Air Lines from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Bank of America lifted their price target on shares of Delta Air Lines from $78.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Jefferies Financial Group boosted their price objective on shares of Delta Air Lines from $81.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Morgan Stanley upped their price objective on Delta Air Lines from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, Argus lifted their target price on Delta Air Lines from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Delta Air Lines has an average rating of “Moderate Buy” and a consensus price target of $86.26.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.