Brookstone Capital Management Cuts Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Brookstone Capital Management cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,581 shares of the transportation company’s stock after selling 1,560 shares during the period. Brookstone Capital Management’s holdings in Delta Air Lines were worth $1,096,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors grew its position in shares of Delta Air Lines by 0.3% during the first quarter. Capital World Investors now owns 15,030,836 shares of the transportation company’s stock worth $719,526,000 after buying an additional 49,712 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Delta Air Lines by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after acquiring an additional 1,105,674 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Delta Air Lines by 220.2% in the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after purchasing an additional 5,914,301 shares in the last quarter. LSV Asset Management lifted its position in shares of Delta Air Lines by 6.3% during the 1st quarter. LSV Asset Management now owns 3,528,883 shares of the transportation company’s stock worth $168,928,000 after purchasing an additional 208,436 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Delta Air Lines by 96.1% during the first quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock worth $119,057,000 after purchasing an additional 1,219,074 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DAL shares. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Susquehanna boosted their target price on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday. Bank of America upped their price target on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Sanford C. Bernstein increased their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $65.40.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $51.33 on Friday. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The stock has a market capitalization of $33.13 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.98 and a beta of 1.35. The company has a 50-day simple moving average of $44.19 and a 200-day simple moving average of $46.90. 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 (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Delta Air Lines, Inc. will post 6.17 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 1.17%. Delta Air Lines’s dividend payout ratio is currently 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.