Delta Air Lines, Inc. (DAL) Holdings Reduced by Cambria Investment Management L.P.

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Cambria Investment Management L.P. reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,795 shares of the transportation company’s stock after selling 1,987 shares during the quarter. Cambria Investment Management L.P.’s holdings in Delta Air Lines were worth $1,229,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Usca Ria LLC increased its holdings in Delta Air Lines by 3.7% in the 4th quarter. Usca Ria LLC now owns 26,577 shares of the transportation company’s stock valued at $1,326,000 after buying an additional 950 shares during the period. South Texas Money Management Ltd. increased its holdings in Delta Air Lines by 5.8% in the 4th quarter. South Texas Money Management Ltd. now owns 652,197 shares of the transportation company’s stock valued at $32,545,000 after buying an additional 35,740 shares during the period. Northern Oak Wealth Management Inc. increased its holdings in Delta Air Lines by 4,597.8% in the 4th quarter. Northern Oak Wealth Management Inc. now owns 57,924 shares of the transportation company’s stock valued at $2,890,000 after buying an additional 56,691 shares during the period. Northwest Bancshares Inc. increased its holdings in Delta Air Lines by 13.2% in the 1st quarter. Northwest Bancshares Inc. now owns 46,839 shares of the transportation company’s stock valued at $2,419,000 after buying an additional 5,449 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Delta Air Lines by 9.2% in the 4th quarter. New York State Common Retirement Fund now owns 1,558,221 shares of the transportation company’s stock valued at $77,755,000 after buying an additional 130,820 shares during the period. 90.56% of the stock is currently owned by hedge funds and other institutional investors.

DAL opened at $54.06 on Thursday. Delta Air Lines, Inc. has a 1-year low of $45.08 and a 1-year high of $61.32. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.29 and a current ratio of 0.34. The company has a market capitalization of $35.91 billion, a PE ratio of 9.57, a P/E/G ratio of 0.59 and a beta of 1.13.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. The company had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.39 billion. During the same period last year, the company posted $0.74 EPS. On average, analysts expect that Delta Air Lines, Inc. will post 6.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 2nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.59%. Delta Air Lines’s payout ratio is currently 24.78%.

In other Delta Air Lines news, major shareholder Berkshire Hathaway Inc bought 2,345,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $49.37 per share, for a total transaction of $115,776,451.49. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO W Gilbert West sold 7,465 shares of Delta Air Lines stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $58.52, for a total transaction of $436,851.80. Following the sale, the chief operating officer now owns 94,933 shares in the company, valued at $5,555,479.16. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,554,538 shares of company stock worth $175,828,075 and sold 96,465 shares worth $5,584,102. Company insiders own 0.47% of the company’s stock.

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Credit Suisse Group raised their price target on shares of Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Raymond James raised their price target on shares of Delta Air Lines from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Zacks Investment Research upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, April 15th. Finally, Imperial Capital restated an “in-line” rating and issued a $58.00 price target on shares of Delta Air Lines in a research note on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $65.56.

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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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

See Also: SEC Filing

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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