NEOS Investment Management LLC Has $9.99 Million Stake in Delta Air Lines, Inc. $DAL

NEOS Investment Management LLC raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 13.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,646 shares of the transportation company’s stock after acquiring an additional 12,272 shares during the period. NEOS Investment Management LLC’s holdings in Delta Air Lines were worth $9,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAL. Capital International Investors boosted its position in shares of Delta Air Lines by 4.4% in the fourth quarter. Capital International Investors now owns 24,211,101 shares of the transportation company’s stock valued at $1,680,249,000 after acquiring an additional 1,012,265 shares during the period. State Street Corp grew its position in Delta Air Lines by 0.7% in the 4th quarter. State Street Corp now owns 23,163,644 shares of the transportation company’s stock worth $1,607,557,000 after purchasing an additional 165,729 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Delta Air Lines by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company’s stock worth $1,215,766,000 after purchasing an additional 202,865 shares during the period. Wellington Management Group LLP increased its holdings in shares of Delta Air Lines by 137.4% during the 4th quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company’s stock worth $958,538,000 after purchasing an additional 7,994,004 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Delta Air Lines during the second quarter valued at about $1,182,646,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $80.13 on Friday. The firm has a 50 day simple moving average of $86.59 and a 200 day simple moving average of $76.86. Delta Air Lines, Inc. has a fifty-two week low of $55.03 and a fifty-two week high of $95.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35. The firm has a market cap of $52.70 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.11 and a beta of 1.29.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The business had revenue of $17.67 billion for the quarter, compared to analysts’ expectations of $17.43 billion. During the same quarter last year, the business earned $2.10 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.23 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were paid a $0.215 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 1.1%. Delta Air Lines’s payout ratio is 14.26%.

Insider Transactions at Delta Air Lines

In other news, EVP Alain Bellemare sold 35,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total value of $3,245,200.00. Following the transaction, the executive vice president owned 95,025 shares of the company’s stock, valued at $8,810,718. This represents a 26.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 206,510 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $92.80, for a total value of $19,164,128.00. Following the completion of the transaction, the chief executive officer owned 1,363,448 shares in the company, valued at $126,527,974.40. This represents a 13.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 356,726 shares of company stock valued at $33,081,037. 0.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DAL shares. Wells Fargo & Company increased their target price on shares of Delta Air Lines from $75.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Jefferies Financial Group upped their price target on Delta Air Lines from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 10th. Susquehanna raised their price objective on Delta Air Lines from $78.00 to $108.00 and gave the stock a “positive” rating in a research report on Tuesday, July 7th. Argus set a $105.00 price objective on Delta Air Lines in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Delta Air Lines from $85.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Twenty-three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.84.

Delta Air Lines Profile

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.