Fox Run Management L.L.C. Acquires New Stake in Delta Air Lines, Inc. (NYSE:DAL)

Fox Run Management L.L.C. acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 21,679 shares of the transportation company’s stock, valued at approximately $1,312,000.

Several other hedge funds also recently made changes to their positions in the company. WASHINGTON TRUST Co lifted its position in Delta Air Lines by 7.5% in the fourth quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 150 shares during the period. Hemington Wealth Management raised its stake in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after buying an additional 154 shares in the last quarter. Mason & Associates Inc lifted its holdings in shares of Delta Air Lines by 3.2% in the 4th quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company’s stock valued at $308,000 after buying an additional 160 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Delta Air Lines by 1.2% in the fourth quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company’s stock valued at $865,000 after buying an additional 173 shares in the last quarter. Finally, Armstrong Advisory Group Inc. grew its holdings in Delta Air Lines by 10.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,820 shares of the transportation company’s stock worth $110,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Down 0.1 %

DAL opened at $46.89 on Friday. The firm has a market cap of $30.31 billion, a P/E ratio of 8.80, a PEG ratio of 0.75 and a beta of 1.34. The business’s fifty day simple moving average is $60.80 and its 200 day simple moving average is $58.02. Delta Air Lines, Inc. has a 52 week low of $37.29 and a 52 week high of $69.98. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.09. The company had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.20 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 up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. As a group, equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s dividend payout ratio is currently 11.26%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DAL shares. UBS Group decreased their target price on shares of Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Citigroup decreased their price objective on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. TD Cowen boosted their price target on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Barclays dropped their price objective on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $76.29.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now owns 52,789 shares of the company’s stock, valued at $3,425,478.21. This trade represents a 41.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of Delta Air Lines stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is currently owned by insiders.

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.