Global Assets Advisory LLC Invests $1.71 Million in Delta Air Lines, Inc. (NYSE:DAL)

Global Assets Advisory LLC bought a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,731 shares of the transportation company’s stock, valued at approximately $1,710,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American International Group Inc. grew its stake in shares of Delta Air Lines by 1.6% during the fourth quarter. American International Group Inc. now owns 181,107 shares of the transportation company’s stock worth $7,286,000 after purchasing an additional 2,783 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Delta Air Lines by 132.3% during the fourth quarter. International Assets Investment Management LLC now owns 466,741 shares of the transportation company’s stock worth $18,777,000 after purchasing an additional 265,852 shares in the last quarter. Capital Advisors Inc. OK acquired a new position in shares of Delta Air Lines during the fourth quarter worth $4,241,000. Meeder Asset Management Inc. grew its stake in shares of Delta Air Lines by 325.5% during the fourth quarter. Meeder Asset Management Inc. now owns 77,647 shares of the transportation company’s stock worth $3,124,000 after purchasing an additional 59,398 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in shares of Delta Air Lines during the first quarter worth $749,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Analysts Set New Price Targets

DAL has been the subject of several research analyst reports. HSBC initiated coverage on shares of Delta Air Lines in a research note on Monday, May 13th. They issued a “buy” rating and a $72.80 price objective for the company. UBS Group initiated coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They issued a “buy” rating and a $59.00 price objective for the company. Bank of America upped their price objective on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Susquehanna upped their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research note on Tuesday, April 9th. 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 MarketBeat, Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $59.85.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 24,073 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total value of $1,176,206.78. Following the completion of the transaction, the executive vice president now directly owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Joanne D. Smith sold 4,846 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the sale, the executive vice president now directly owns 112,421 shares in the company, valued at $5,879,618.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the completion of the sale, the executive vice president now owns 141,451 shares in the company, valued at $6,911,295.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,919 shares of company stock valued at $8,834,653. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 1.2 %

NYSE DAL opened at $48.80 on Wednesday. The stock has a market capitalization of $31.49 billion, a P/E ratio of 6.27, a P/E/G ratio of 0.73 and a beta of 1.37. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $53.86. The firm has a 50-day moving average price of $50.61 and a 200 day moving average price of $45.05. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. The firm had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Equities research analysts expect that Delta Air Lines, Inc. will post 6.61 EPS for the current year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 1.23%. Delta Air Lines’s dividend payout ratio (DPR) is 5.14%.

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.