Partners Wealth Management LLC Purchases New Position in Delta Air Lines, Inc. (NYSE:DAL)

Partners Wealth Management LLC purchased a new position in Delta Air Lines, Inc. (NYSE:DAL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,925 shares of the transportation company’s stock, valued at approximately $298,000.

A number of other hedge funds also recently bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its position in shares of Delta Air Lines by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock valued at $13,644,000 after buying an additional 13,802 shares in the last quarter. KBC Group NV raised its position in Delta Air Lines by 143.7% during the third quarter. KBC Group NV now owns 56,611 shares of the transportation company’s stock worth $2,876,000 after acquiring an additional 33,378 shares during the period. Olstein Capital Management L.P. lifted its holdings in Delta Air Lines by 32.6% during the third quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock valued at $8,888,000 after purchasing an additional 43,000 shares in the last quarter. Donoghue Forlines LLC acquired a new stake in shares of Delta Air Lines in the fourth quarter valued at about $2,036,000. Finally, River Road Asset Management LLC increased its stake in shares of Delta Air Lines by 22.8% during the third quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock worth $6,634,000 after purchasing an additional 24,249 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Down 6.1 %

Shares of NYSE DAL opened at $59.88 on Monday. 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 business’s 50 day moving average is $64.27 and its two-hundred day moving average is $56.57. Delta Air Lines, Inc. has a 52-week low of $37.29 and a 52-week high of $69.98. The firm has a market cap of $38.71 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.75 and a beta of 1.36.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. The firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Research analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, February 27th. Delta Air Lines’s dividend payout ratio is presently 11.26%.

Insider Buying and Selling

In related news, CEO Edward H. Bastian sold 91,710 shares of the business’s 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. The trade was a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Rahul D. Samant sold 38,023 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total value of $2,467,312.47. Following the completion of the sale, the executive vice president now owns 52,789 shares in the company, valued at approximately $3,425,478.21. This represents a 41.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,886 shares of company stock worth $11,116,463. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group lifted their price target on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup increased their price objective on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays lifted their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Susquehanna increased their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $78.22.

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.