Los Angeles Capital Management LLC Sells 10,030 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Los Angeles Capital Management LLC cut its position in Delta Air Lines, Inc. (NYSE:DAL) by 70.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,304 shares of the transportation company’s stock after selling 10,030 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Delta Air Lines were worth $204,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DAL. Manchester Capital Management LLC increased its holdings in shares of Delta Air Lines by 26,166.7% during the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 785 shares in the last quarter. Rise Advisors LLC increased its holdings in Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after buying an additional 452 shares during the period. Unique Wealth Strategies LLC acquired a new position in Delta Air Lines in the 2nd quarter worth approximately $40,000. Richard W. Paul & Associates LLC increased its holdings in Delta Air Lines by 68.7% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after buying an additional 357 shares during the period. Finally, GoalVest Advisory LLC acquired a new position in Delta Air Lines in the 1st quarter worth approximately $50,000. 69.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director Willie Cw Chiang acquired 10,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was acquired at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $878,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $45.18 on Monday. The business has a 50-day moving average of $42.27 and a 200 day moving average of $46.15. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86. The stock has a market capitalization of $29.16 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. 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 announced its earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. During the same quarter last year, the business earned $2.68 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 5.99 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, July 30th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

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.