Covalis Capital LLP Invests $944,000 in Delta Air Lines, Inc. (NYSE:DAL)

Covalis Capital LLP purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,596 shares of the transportation company's stock, valued at approximately $944,000.

A number of other large investors also recently modified their holdings of DAL. New Wave Wealth Advisors LLC acquired a new stake in shares of Delta Air Lines during the 4th quarter worth about $27,000. Hemington Wealth Management boosted its position in shares of Delta Air Lines by 48.1% in the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock valued at $28,000 after purchasing an additional 154 shares during the period. Roxbury Financial LLC acquired a new position in Delta Air Lines during the fourth quarter worth approximately $29,000. Crews Bank & Trust purchased a new stake in Delta Air Lines in the fourth quarter valued at approximately $30,000. Finally, Modus Advisors LLC acquired a new position in Delta Air Lines in the 4th quarter valued at about $33,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $40.81 on Friday. The stock has a market cap of $26.38 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 0.75 and a beta of 1.23. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The stock's 50-day moving average is $49.72 and its 200 day moving average is $57.29. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). The business had revenue of $12.98 billion for 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%. Delta Air Lines's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.47%. Delta Air Lines's dividend payout ratio (DPR) is 10.64%.

Wall Street Analyst Weigh In

A number of analysts recently commented on DAL shares. Susquehanna decreased their price objective on shares of Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Citigroup dropped their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Bank of America decreased their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Barclays reduced their target price on shares of Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Dbs Bank lowered shares of Delta Air Lines from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Insider Activity at Delta Air Lines

In related news, SVP William C. Carroll sold 6,783 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total value of $447,271.02. Following the completion of the transaction, the senior vice president now directly owns 10,016 shares of the company's stock, valued at $660,455.04. This trade represents a 40.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of the company's 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 in the company, valued at $3,425,478.21. The trade was a 41.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,486 shares of company stock valued at $10,561,895 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

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.

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