L1 Capital Pty Ltd Takes Position in Delta Air Lines, Inc. $DAL

L1 Capital Pty Ltd bought a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,544 shares of the transportation company’s stock, valued at approximately $519,000. Delta Air Lines accounts for about 0.0% of L1 Capital Pty Ltd’s portfolio, making the stock its 23rd largest holding.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Delta Air Lines by 2.3% in the second quarter. Vanguard Group Inc. now owns 74,572,577 shares of the transportation company’s stock valued at $3,667,479,000 after buying an additional 1,648,071 shares during the period. State Street Corp lifted its holdings in Delta Air Lines by 2.6% during the second quarter. State Street Corp now owns 23,059,848 shares of the transportation company’s stock valued at $1,134,083,000 after purchasing an additional 581,421 shares during the last quarter. Geode Capital Management LLC boosted its position in Delta Air Lines by 3.3% during the second quarter. Geode Capital Management LLC now owns 16,757,932 shares of the transportation company’s stock worth $822,127,000 after purchasing an additional 527,570 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Delta Air Lines during the second quarter worth about $386,364,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Delta Air Lines by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 6,214,853 shares of the transportation company’s stock worth $305,646,000 after purchasing an additional 299,308 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total value of $1,453,722.59. Following the completion of the transaction, the executive vice president directly owned 81,109 shares in the company, valued at approximately $5,055,523.97. This represents a 22.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William C. Carroll sold 14,010 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the transaction, the senior vice president owned 15,816 shares in the company, valued at $968,730. This trade represents a 46.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Stock Down 1.0%

Shares of NYSE DAL opened at $69.82 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $60.94 and a 200-day moving average of $57.10. The firm has a market capitalization of $45.59 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.63 and a beta of 1.37. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $71.59.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The business had revenue of $8.40 billion for the quarter. Sell-side analysts expect 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 was paid on Thursday, November 6th. Investors of record on Thursday, October 16th were given a $0.1875 dividend. The ex-dividend date was Thursday, October 16th. This represents a $0.75 annualized dividend and a yield of 1.1%. Delta Air Lines’s payout ratio is 10.56%.

Analyst Ratings Changes

A number of brokerages recently commented on DAL. Cowen restated a “buy” rating on shares of Delta Air Lines in a research note on Thursday, December 4th. BMO Capital Markets raised Delta Air Lines to a “strong-buy” rating in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Delta Air Lines from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, October 10th. UBS Group initiated coverage on Delta Air Lines in a report on Friday. They set a “buy” rating and a $90.00 price objective on the stock. Finally, HSBC upped their price target on Delta Air Lines from $69.20 to $73.70 and gave the company a “buy” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and an average price target of $74.08.

Delta Air Lines Company 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.