New Age Alpha Advisors LLC Invests $6.35 Million in Delta Air Lines, Inc. (NYSE:DAL)

New Age Alpha Advisors LLC bought a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 105,025 shares of the transportation company’s stock, valued at approximately $6,354,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its position in shares of Delta Air Lines by 11.1% in the third quarter. Daiwa Securities Group Inc. now owns 41,398 shares of the transportation company’s stock valued at $2,103,000 after acquiring an additional 4,132 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Delta Air Lines during the 3rd quarter worth approximately $201,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Delta Air Lines by 7.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,439 shares of the transportation company’s stock valued at $225,000 after buying an additional 318 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Delta Air Lines by 3.2% in the third quarter. The Manufacturers Life Insurance Company now owns 404,638 shares of the transportation company’s stock valued at $20,552,000 after buying an additional 12,450 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Delta Air Lines in the third quarter valued at $102,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Stock Performance

Shares of NYSE:DAL opened at $46.21 on Friday. Delta Air Lines, Inc. has a 12-month low of $37.29 and a 12-month high of $69.98. The company’s 50 day moving average price is $59.38 and its two-hundred day moving average price is $58.18. The firm has a market cap of $29.88 billion, a PE ratio of 8.67, a PEG ratio of 0.75 and a beta of 1.34. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 earnings per share. Equities research analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.60 annualized dividend and a yield of 1.30%. Delta Air Lines’s dividend payout ratio is 11.26%.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the completion of the transaction, the executive vice president now directly owns 52,789 shares in the company, valued at $3,425,478.21. The trade was a 41.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William C. Carroll sold 6,783 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total value of $447,271.02. Following the completion of the sale, the senior vice president now directly owns 10,016 shares in the company, valued at approximately $660,455.04. This represents a 40.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,886 shares of company stock worth $11,116,463 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DAL. UBS Group dropped their target price on shares of Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Susquehanna upped their price objective on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Barclays decreased their target price on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Citigroup cut their price target on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, TD Cowen upped their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $76.29.

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.