Patient Capital Management LLC Sells 316,065 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Patient Capital Management LLC cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 25.0% during the fourth quarter, Holdings Channel reports. The fund owned 947,509 shares of the transportation company’s stock after selling 316,065 shares during the period. Delta Air Lines makes up about 2.7% of Patient Capital Management LLC’s portfolio, making the stock its 22nd biggest position. Patient Capital Management LLC’s holdings in Delta Air Lines were worth $57,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DAL. Man Group plc lifted its holdings in shares of Delta Air Lines by 338.9% during the 4th quarter. Man Group plc now owns 231,518 shares of the transportation company’s stock valued at $14,007,000 after purchasing an additional 178,769 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Delta Air Lines by 1.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 21,148 shares of the transportation company’s stock valued at $1,296,000 after acquiring an additional 222 shares in the last quarter. NorthRock Partners LLC grew its stake in Delta Air Lines by 113.6% in the fourth quarter. NorthRock Partners LLC now owns 13,250 shares of the transportation company’s stock valued at $802,000 after purchasing an additional 7,047 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Delta Air Lines by 2.1% during the fourth quarter. Nuveen Asset Management LLC now owns 3,854,438 shares of the transportation company’s stock worth $233,194,000 after buying an additional 79,027 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its holdings in Delta Air Lines by 20.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 6,690 shares of the transportation company’s stock worth $405,000 after purchasing an additional 1,119 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DAL shares. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Barclays dropped their target price on shares of Delta Air Lines from $80.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Raymond James cut their target price on shares of Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Citigroup decreased their price target on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.42.

Delta Air Lines Stock Up 3.6%

Shares of NYSE:DAL opened at $52.99 on Wednesday. The stock has a fifty day simple moving average of $43.91 and a two-hundred day simple moving average of $56.36. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.75 and a beta of 1.46. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). The business had revenue of $12.98 billion during the quarter, compared to analysts’ expectations of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.45 EPS. On average, research analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 annualized dividend and a yield of 1.13%. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.64%.

Delta Air Lines Profile

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.