Delta Air Lines, Inc. (NYSE:DAL) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,892 shares of the transportation company’s stock after acquiring an additional 783 shares during the quarter. Empirical Finance LLC’s holdings in Delta Air Lines were worth $1,096,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DAL. MeadowBrook Investment Advisors LLC purchased a new position in Delta Air Lines in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC boosted its holdings in Delta Air Lines by 396.6% in the 4th quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after acquiring an additional 575 shares during the period. Manchester Capital Management LLC boosted its holdings in Delta Air Lines by 26,166.7% in the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after acquiring an additional 785 shares during the period. Rise Advisors LLC boosted its holdings in Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after acquiring an additional 452 shares during the period. Finally, Nordwand Advisors LLC purchased a new position in Delta Air Lines in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL traded down $1.37 during trading hours on Friday, hitting $43.62. The company had a trading volume of 16,675,678 shares, compared to its average volume of 9,706,544. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The business has a fifty day simple moving average of $50.07 and a 200-day simple moving average of $45.48. The firm has a market cap of $28.15 billion, a P/E ratio of 5.79, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35.

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 net margin of 8.48% and a return on equity of 41.89%. Delta Air Lines’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $2.68 earnings per share. Equities analysts predict that Delta Air Lines, Inc. will post 6.5 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is 5.14%.

Insider Activity

In other news, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the transaction, the president now directly owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Joanne D. Smith sold 4,846 shares of Delta Air Lines stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total transaction of $253,445.80. Following the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at $5,879,618.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Glen W. Hauenstein sold 100,000 shares of Delta Air Lines stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the transaction, the president now directly owns 217,584 shares in the company, valued at $10,672,495.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,919 shares of company stock valued at $8,834,653. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DAL shares. Sanford C. Bernstein reduced their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup increased their target price on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. UBS Group started coverage on Delta Air Lines in a research note on Wednesday, March 20th. They set a “buy” rating and a $59.00 target price for the company. Susquehanna increased their target price on Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $60.36.

Delta Air Lines Company 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.