Picton Mahoney Asset Management Raises Position in Delta Air Lines, Inc. (NYSE:DAL)

Picton Mahoney Asset Management raised its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 534.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,280 shares of the transportation company’s stock after acquiring an additional 28,880 shares during the quarter. Picton Mahoney Asset Management’s holdings in Delta Air Lines were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new position in shares of Delta Air Lines during the 4th quarter worth $27,000. Roxbury Financial LLC purchased a new position in shares of Delta Air Lines during the 4th quarter worth $29,000. Hemington Wealth Management boosted its stake in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after acquiring an additional 154 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Delta Air Lines during the 4th quarter worth $30,000. Finally, Modus Advisors LLC purchased a new position in shares of Delta Air Lines during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Barclays lowered their target price on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. UBS Group lowered 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 research note on Tuesday, March 11th. StockNews.com upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Susquehanna lifted their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $76.60.

Insider Transactions at Delta Air Lines

In related news, EVP Rahul D. Samant sold 38,023 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 52,789 shares in the company, valued at approximately $3,425,478.21. This represents a 41.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $30,721,357.15. The trade was a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock worth $11,116,463 in the last three months. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $46.60 on Friday. The company’s 50-day moving average price is $62.34 and its 200-day moving average price is $57.96. Delta Air Lines, Inc. has a twelve month low of $37.29 and a twelve month high of $69.98. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The company has a market cap of $30.12 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34.

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

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be issued a $0.15 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.29%. Delta Air Lines’s dividend payout ratio (DPR) is presently 11.26%.

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.