Family Office Research LLC Takes $6.62 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Family Office Research LLC purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 109,354 shares of the transportation company's stock, valued at approximately $6,616,000. Delta Air Lines comprises 2.9% of Family Office Research LLC's investment portfolio, making the stock its 9th largest position.

Other hedge funds also recently modified their holdings of the company. Orion Portfolio Solutions LLC increased its position in shares of Delta Air Lines by 14.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 19,541 shares of the transportation company's stock valued at $992,000 after purchasing an additional 2,401 shares during the last quarter. MML Investors Services LLC grew its position in Delta Air Lines by 18.4% during the third quarter. MML Investors Services LLC now owns 71,389 shares of the transportation company's stock worth $3,626,000 after buying an additional 11,094 shares in the last quarter. Geode Capital Management LLC raised its position in Delta Air Lines by 2.8% during the third quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company's stock valued at $789,452,000 after purchasing an additional 416,338 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Delta Air Lines by 17.0% during the third quarter. Coldstream Capital Management Inc. now owns 13,224 shares of the transportation company's stock valued at $700,000 after buying an additional 1,920 shares during the period. Finally, Arete Wealth Advisors LLC boosted its position in Delta Air Lines by 6.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 6,222 shares of the transportation company's stock valued at $315,000 after buying an additional 395 shares during the period. Hedge funds and other institutional investors own 69.93% of the company's stock.

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Insider Buying and Selling

In other news, CEO Edward H. Bastian sold 91,710 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was 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 directly owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rahul D. Samant sold 17,970 shares of Delta Air Lines stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total value of $1,241,367.60. Following the completion of the transaction, the executive vice president now owns 35,889 shares of the company's stock, valued at approximately $2,479,212.12. This trade represents a 33.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DAL has been the subject of a number of research analyst reports. Barclays lowered their target price on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Susquehanna lowered their price objective on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a research report on Monday, April 7th. UBS Group cut Delta Air Lines from a "buy" rating to a "neutral" rating and cut their target price for the stock from $77.00 to $42.00 in a research report on Monday, April 7th. The Goldman Sachs Group decreased their target price on Delta Air Lines from $83.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Raymond James dropped their target price on Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines presently has an average rating of "Moderate Buy" and a consensus target price of $61.06.

Delta Air Lines Stock Performance

DAL stock traded down $0.59 during midday trading on Monday, hitting $40.29. 12,488,380 shares of the stock traded hands, compared to its average volume of 9,301,458. The stock's fifty day simple moving average is $52.37 and its 200-day simple moving average is $57.73. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The firm has a market cap of $26.05 billion, a P/E ratio of 7.56, a PEG ratio of 0.75 and a beta of 1.23.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data 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). Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company had revenue of $12.98 billion for the quarter, compared to analysts' expectations of $13.85 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines's dividend payout ratio (DPR) is 10.64%.

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.