Quarry LP Acquires New Position in Delta Air Lines, Inc. (NYSE:DAL)

Quarry LP acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 857 shares of the transportation company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DAL. Strategic Financial Concepts LLC purchased a new position in Delta Air Lines during the 2nd quarter worth approximately $36,000. Rise Advisors LLC raised its position in Delta Air Lines by 122.5% during 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 last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at approximately $40,000. Richard W. Paul & Associates LLC increased its holdings in shares of Delta Air Lines by 68.7% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 357 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in shares of Delta Air Lines during the 4th quarter valued at approximately $43,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Jefferies Financial Group lifted their target price on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Sanford C. Bernstein cut their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, July 12th. Finally, TD Cowen cut their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $63.62.

Delta Air Lines Trading Up 3.8 %

Shares of DAL opened at $49.28 on Friday. The firm’s fifty day moving average is $43.35 and its two-hundred day moving average is $46.73. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The stock has a market cap of $31.80 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $53.86.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 EPS. Research analysts forecast that Delta Air Lines, Inc. will post 6.18 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. Delta Air Lines’s payout ratio is 8.63%.

Insider Activity at Delta Air Lines

In related news, Director Willie Cw Chiang acquired 10,000 shares of Delta Air Lines stock in a transaction that occurred on Friday, July 12th. The shares were purchased at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $878,000. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by insiders.

Delta Air Lines 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.