Capital Group Private Client Services Inc. Boosts Stake in Delta Air Lines, Inc. (NYSE:DAL)

Capital Group Private Client Services Inc. boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 25.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 287,165 shares of the transportation company’s stock after buying an additional 58,881 shares during the period. Capital Group Private Client Services Inc.’s holdings in Delta Air Lines were worth $13,747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAL. Capital International Investors raised its position in Delta Air Lines by 8.8% in the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after purchasing an additional 1,689,053 shares during the last quarter. Capital World Investors boosted its stake in shares of Delta Air Lines by 0.5% during the fourth quarter. Capital World Investors now owns 14,981,124 shares of the transportation company’s stock worth $602,691,000 after buying an additional 79,818 shares during the period. Wellington Management Group LLP grew its holdings in shares of Delta Air Lines by 220.2% during the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after buying an additional 5,914,301 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Delta Air Lines by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,374,052 shares of the transportation company’s stock valued at $336,908,000 after acquiring an additional 826,232 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in Delta Air Lines by 27.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after acquiring an additional 1,376,221 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total value of $253,445.80. Following the sale, the executive vice president now owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Willie Cw Chiang purchased 10,000 shares of the firm’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 purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $495,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen lowered their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley reissued an “overweight” rating and issued a $85.00 price objective on shares of Delta Air Lines in a research note on Thursday, April 11th. HSBC initiated coverage on shares of Delta Air Lines in a research report on Monday, May 13th. They set a “buy” rating and a $72.80 price objective for the company. Sanford C. Bernstein lowered their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. Finally, Bank of America increased their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $60.70.

Delta Air Lines Price Performance

Shares of DAL stock traded up $0.66 during midday trading on Friday, reaching $44.13. 8,719,034 shares of the company traded hands, compared to its average volume of 9,761,617. The firm has a market cap of $28.48 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The firm’s 50 day simple moving average is $48.40 and its two-hundred day simple moving average is $45.75. Delta Air Lines, Inc. has a 1-year low of $30.60 and a 1-year high of $53.86.

Delta Air Lines (NYSE:DAL) last posted its 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). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Delta Air Lines, Inc. will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 1.36%. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

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.