Cwm LLC Buys 16,294 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Cwm LLC raised its stake in Delta Air Lines, Inc. (NYSE:DAL) by 87.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,919 shares of the transportation company’s stock after acquiring an additional 16,294 shares during the quarter. Cwm LLC’s holdings in Delta Air Lines were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DAL. Wellington Management Group LLP increased its stake in shares of Delta Air Lines by 220.2% during the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after purchasing an additional 5,914,301 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Delta Air Lines during the second quarter worth $60,217,000. Russell Investments Group Ltd. boosted its position in shares of Delta Air Lines by 96.1% in the first quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock valued at $119,057,000 after acquiring an additional 1,219,074 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Delta Air Lines by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after acquiring an additional 1,105,674 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Delta Air Lines by 159.8% during the second quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock worth $27,915,000 after acquiring an additional 361,942 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. TD Cowen cut their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group raised their price objective on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upped their target price on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $65.40.

Delta Air Lines Trading Down 0.8 %

DAL opened at $52.73 on Wednesday. The company’s 50 day moving average is $44.79 and its 200-day moving average is $46.97. The company has a market cap of $34.03 billion, a P/E ratio of 7.59, a PEG ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a 1-year low of $30.60 and a 1-year high of $54.29. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the firm posted $2.03 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts predict that Delta Air Lines, Inc. will post 6.17 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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

Insider Activity

In related news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by insiders.

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.