Granite Investment Partners LLC increased its holdings in Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 399.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,188 shares of the transportation company’s stock after buying an additional 78,522 shares during the quarter. Granite Investment Partners LLC’s holdings in Delta Air Lines were worth $6,528,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in DAL. IFM Investors Pty Ltd grew its position in Delta Air Lines by 0.5% in the 4th quarter. IFM Investors Pty Ltd now owns 28,167 shares of the transportation company’s stock valued at $1,955,000 after buying an additional 144 shares in the last quarter. Utah Retirement Systems raised its holdings in Delta Air Lines by 0.3% during the fourth quarter. Utah Retirement Systems now owns 52,620 shares of the transportation company’s stock worth $3,652,000 after purchasing an additional 144 shares in the last quarter. First Financial Bank Trust Division raised its holdings in Delta Air Lines by 3.3% during the fourth quarter. First Financial Bank Trust Division now owns 4,721 shares of the transportation company’s stock worth $328,000 after purchasing an additional 150 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Delta Air Lines by 2.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 6,022 shares of the transportation company’s stock worth $454,000 after purchasing an additional 151 shares during the period. Finally, Larson Financial Group LLC lifted its position in Delta Air Lines by 2.4% in the fourth quarter. Larson Financial Group LLC now owns 6,472 shares of the transportation company’s stock worth $449,000 after purchasing an additional 152 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Delta Air Lines
In other Delta Air Lines news, EVP John E. Laughter sold 69,304 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $68.15, for a total value of $4,723,067.60. Following the completion of the sale, the executive vice president owned 69,369 shares of the company’s stock, valued at $4,727,497.35. The trade was a 49.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $76.00, for a total value of $737,960.00. Following the transaction, the executive vice president directly owned 138,854 shares in the company, valued at approximately $10,552,904. This represents a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 149,635 shares of company stock worth $10,833,855 in the last 90 days. 0.80% of the stock is owned by insiders.
Analysts Set New Price Targets
Get Our Latest Analysis on Delta Air Lines
Key Stories Impacting Delta Air Lines
Here are the key news stories impacting Delta Air Lines this week:
- Positive Sentiment: Delta announced new “Basic Business” fares, expanding its premium-cabin pricing strategy with a lower-cost option that could help fill seats while preserving some pricing power. Delta launches ‘basic business’ fares without lounge access, seat selection
- Positive Sentiment: UBS said Delta’s second-quarter results should come in slightly above the top end of guidance, but noted the bigger catalyst will be management’s outlook for the third quarter and full year. Delta Air Lines outlook seen as key driver of Q2 earnings reaction, UBS says
- Positive Sentiment: Susquehanna raised its price target on Delta and maintained a positive view, reflecting continued optimism around the airline’s earnings power and premium positioning. Susquehanna Boosts Delta Air Lines (NYSE:DAL) Price Target to $108.00
- Neutral Sentiment: Delta’s stock is near recent highs and has had a sharp rally this year, so investors may be demanding strong Q3 guidance and not just an earnings beat to justify further upside. Delta Air Lines (DAL) Stock Near Highs Ahead of Q2 Earnings: Buy, Hold, or Sell?
- Negative Sentiment: Rising crude prices are pressuring airline stocks, including DAL, because higher jet-fuel costs can squeeze margins if fares do not rise enough to offset the increase. Delta Stock Faces Fuel-Cost Headwinds Following US Military Strikes Against Iran
Delta Air Lines Stock Down 1.4%
Delta Air Lines stock opened at $87.39 on Thursday. Delta Air Lines, Inc. has a twelve month low of $49.83 and a twelve month high of $95.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The firm has a market cap of $57.41 billion, a PE ratio of 12.74, a P/E/G ratio of 1.27 and a beta of 1.29. The firm’s 50 day moving average price is $80.25 and its two-hundred day moving average price is $72.31.
Delta Air Lines (NYSE:DAL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the previous year, the company posted $0.46 EPS. Delta Air Lines’s revenue was up 9.4% on a year-over-year basis. On average, research analysts predict that Delta Air Lines, Inc. will post 5.72 EPS for the current fiscal year.
Delta Air Lines Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th will be given a $0.215 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, July 9th. Delta Air Lines’s payout ratio is presently 10.93%.
About Delta Air Lines
Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.
The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.
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