Woodmont Investment Counsel LLC Boosts Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Woodmont Investment Counsel LLC boosted its position in Delta Air Lines, Inc. (NYSE:DAL) by 1.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,370 shares of the transportation company’s stock after purchasing an additional 580 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Delta Air Lines were worth $1,847,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock worth $32,000 after acquiring an additional 431 shares in the last quarter. Graney & King LLC purchased a new position in Delta Air Lines in the fourth quarter worth $34,000. Continuum Advisory LLC increased its position in shares of Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock worth $35,000 after purchasing an additional 179 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Delta Air Lines during the fourth quarter worth $45,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Delta Air Lines during the 4th quarter valued at $46,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Down 0.7%

Delta Air Lines stock opened at $47.24 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.38 and a quick ratio of 0.33. The stock has a market capitalization of $30.84 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 2.40 and a beta of 1.51. The business has a 50 day simple moving average of $46.63 and a 200-day simple moving average of $53.93. 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 quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.38). The company 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 28.18% and a net margin of 5.91%. Delta Air Lines’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. On average, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, July 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.15. Delta Air Lines’s dividend payout ratio is presently 10.64%.

Analyst Ratings Changes

DAL has been the topic of several research analyst reports. Wall Street Zen downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Sanford C. Bernstein set a $60.00 price target on Delta Air Lines and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America cut their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Citigroup lowered their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, TD Cowen raised their price target on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

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.