First Eagle Investment Management LLC Acquires 3,853 Shares of Delta Air Lines, Inc. (NYSE:DAL)

First Eagle Investment Management LLC boosted its position in Delta Air Lines, Inc. (NYSE:DAL) by 43.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,805 shares of the transportation company’s stock after acquiring an additional 3,853 shares during the quarter. First Eagle Investment Management LLC’s holdings in Delta Air Lines were worth $607,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Sienna Gestion bought a new position in Delta Air Lines in the second quarter valued at approximately $3,896,000. Marsico Capital Management LLC increased its stake in Delta Air Lines by 41.4% in the second quarter. Marsico Capital Management LLC now owns 292,528 shares of the transportation company’s stock valued at $13,878,000 after acquiring an additional 85,657 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Delta Air Lines by 21.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 64,862 shares of the transportation company’s stock valued at $3,017,000 after acquiring an additional 11,536 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Delta Air Lines by 10.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 36,439 shares of the transportation company’s stock valued at $1,729,000 after acquiring an additional 3,523 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Delta Air Lines in the second quarter valued at approximately $1,681,000. 69.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $46.94 on Friday. The firm has a market cap of $30.29 billion, a PE ratio of 6.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The firm’s fifty day moving average is $42.36 and its 200-day moving average is $46.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. 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 issued its quarterly 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). The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. Delta Air Lines’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 EPS. Sell-side analysts predict that Delta Air Lines, Inc. will post 5.99 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a $0.15 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 1.28%. Delta Air Lines’s payout ratio is 8.63%.

Insider Activity at Delta Air Lines

In other news, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were acquired at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $878,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is owned by company 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.