Forsta AP Fonden Boosts Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Forsta AP Fonden grew its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 217.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,500 shares of the transportation company’s stock after purchasing an additional 20,900 shares during the period. Forsta AP Fonden’s holdings in Delta Air Lines were worth $1,447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors boosted its position in Delta Air Lines by 8.8% during the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after acquiring an additional 1,689,053 shares during the last quarter. Capital World Investors boosted its holdings in shares of Delta Air Lines by 0.3% during the first quarter. Capital World Investors now owns 15,030,836 shares of the transportation company’s stock worth $719,526,000 after purchasing an additional 49,712 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Delta Air Lines by 220.2% in the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after purchasing an additional 5,914,301 shares during the period. Royal London Asset Management Ltd. increased its stake in Delta Air Lines by 27.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after purchasing an additional 1,376,221 shares during the last quarter. Finally, LSV Asset Management lifted its position in Delta Air Lines by 6.3% during the first quarter. LSV Asset Management now owns 3,528,883 shares of the transportation company’s stock worth $168,928,000 after buying an additional 208,436 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

Shares of NYSE:DAL opened at $45.34 on Tuesday. The company has a market cap of $29.26 billion, a P/E ratio of 6.52, a PEG ratio of 0.89 and a beta of 1.34. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The business’s 50-day simple moving average is $42.25 and its 200 day simple moving average is $46.17. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 EPS. On average, sell-side analysts forecast that Delta Air Lines, Inc. will post 5.99 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were given a $0.15 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, July 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.32%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

Insider Activity

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of the stock in a transaction on Friday, July 12th. The stock was purchased at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $878,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

DAL has been the subject of a number of research analyst reports. TD Cowen dropped their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Sanford C. Bernstein decreased their price target 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. Jefferies Financial Group dropped their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Citigroup lifted their target price on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $61.52.

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.