Clearstead Trust LLC Takes Position in Delta Air Lines, Inc. (NYSE:DAL)

Clearstead Trust LLC acquired a new position in Delta Air Lines, Inc. (NYSE:DAL) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,549 shares of the transportation company’s stock, valued at approximately $384,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jennison Associates LLC grew its position in Delta Air Lines by 145.2% during the fourth quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock valued at $105,347,000 after acquiring an additional 1,550,770 shares during the last quarter. Invesco Ltd. boosted its position in shares of Delta Air Lines by 27.0% during the third quarter. Invesco Ltd. now owns 4,813,848 shares of the transportation company’s stock valued at $178,112,000 after purchasing an additional 1,022,957 shares in the last quarter. Morgan Stanley grew its position in shares of Delta Air Lines by 8.7% in the 3rd quarter. Morgan Stanley now owns 10,839,122 shares of the transportation company’s stock worth $401,048,000 after buying an additional 865,746 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Delta Air Lines by 541.2% during the third quarter. Los Angeles Capital Management LLC now owns 998,156 shares of the transportation company’s stock valued at $36,932,000 after purchasing an additional 842,487 shares in the last quarter. Finally, U S Global Investors Inc. boosted its holdings in Delta Air Lines by 21.1% in the fourth quarter. U S Global Investors Inc. now owns 4,434,509 shares of the transportation company’s stock worth $178,400,000 after acquiring an additional 773,636 shares in the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

NYSE DAL traded up $0.52 during trading hours on Friday, hitting $51.55. 9,165,946 shares of the company’s stock traded hands, compared to its average volume of 12,487,077. Delta Air Lines, Inc. has a 52 week low of $30.60 and a 52 week high of $51.65. The firm has a market capitalization of $32.99 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.76 and a beta of 1.38. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. The business’s fifty day moving average price is $45.98 and its two-hundred day moving average price is $40.72.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The firm had revenue of $13.75 billion during the quarter, compared to analyst estimates of $12.51 billion. During the same period in the prior year, the business posted $0.25 EPS. Delta Air Lines’s revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that Delta Air Lines, Inc. will post 6.55 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, May 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. Delta Air Lines’s payout ratio is currently 5.14%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DAL shares. Bank of America increased their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 11th. 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. UBS Group began coverage on Delta Air Lines in a research note on Wednesday, March 20th. They issued a “buy” rating and a $59.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Delta Air Lines in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of 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 analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $58.29.

Insider Activity at Delta Air Lines

In other news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $49.50 per share, for a total transaction of $495,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $495,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Peter W. Carter sold 50,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $50.00, for a total value of $2,500,000.00. Following the transaction, the executive vice president now owns 143,328 shares of the company’s stock, valued at $7,166,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Willie Cw Chiang acquired 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $49.50 per share, with a total value of $495,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $495,000. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 174,073 shares of company stock worth $8,581,207. 0.89% of the stock is owned by company 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.