Dimensional Fund Advisors LP Increases Position in Delta Air Lines, Inc. (NYSE:DAL)

Dimensional Fund Advisors LP increased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 12.5% in the 2nd quarter, Holdings Channel reports. The fund owned 9,933,785 shares of the transportation company’s stock after buying an additional 1,105,674 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Delta Air Lines were worth $471,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DAL. Manchester Capital Management LLC boosted its position in Delta Air Lines by 24.7% during the first quarter. Manchester Capital Management LLC now owns 983 shares of the transportation company’s stock valued at $47,000 after buying an additional 195 shares during the period. HBK Sorce Advisory LLC boosted its position in Delta Air Lines by 4.0% during the first quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock valued at $276,000 after buying an additional 221 shares during the period. Silverlake Wealth Management LLC boosted its position in Delta Air Lines by 2.9% during the first quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock valued at $390,000 after buying an additional 229 shares during the period. Lindbrook Capital LLC boosted its position in Delta Air Lines by 7.2% during the first quarter. Lindbrook Capital LLC now owns 3,472 shares of the transportation company’s stock valued at $166,000 after buying an additional 233 shares during the period. Finally, Norden Group LLC boosted its position in Delta Air Lines by 1.8% during the first quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock valued at $670,000 after buying an additional 243 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was acquired at an average price of $43.90 per share, with a total value of $439,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.96% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on DAL. Sanford C. Bernstein cut their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. TD Cowen cut their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group lowered their price objective on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Citigroup upped their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Delta Air Lines has an average rating of “Buy” and a consensus target price of $61.52.

Delta Air Lines Price Performance

DAL stock opened at $45.34 on Tuesday. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $53.86. The company has a market cap of $29.26 billion, a P/E ratio of 6.52, a PEG ratio of 0.89 and a beta of 1.34. The firm has a 50-day moving average of $42.25 and a 200 day moving average of $46.17. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. During the same period in the previous year, the company earned $2.68 earnings per share. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Delta Air Lines, Inc. will post 5.99 EPS for the current year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th were paid a $0.15 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Tuesday, July 30th. Delta Air Lines’s dividend payout ratio is presently 8.63%.

Delta Air Lines Company 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.