Forum Financial Management LP Grows Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

by · The Markets Daily

Forum Financial Management LP increased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,471 shares of the transportation company’s stock after buying an additional 2,094 shares during the quarter. Forum Financial Management LP’s holdings in Delta Air Lines were worth $694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GeoWealth Management LLC grew its holdings in shares of Delta Air Lines by 72.3% in the fourth quarter. GeoWealth Management LLC now owns 14,496 shares of the transportation company’s stock valued at $877,000 after purchasing an additional 6,083 shares during the period. Capital International Ltd. CA grew its stake in shares of Delta Air Lines by 0.8% in the 4th quarter. Capital International Ltd. CA now owns 140,553 shares of the transportation company’s stock valued at $8,503,000 after buying an additional 1,118 shares during the period. Capital Group Investment Management PTE. LTD. raised its position in shares of Delta Air Lines by 2.5% during the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 30,020 shares of the transportation company’s stock valued at $1,816,000 after buying an additional 723 shares during the period. Capital International Sarl lifted its holdings in Delta Air Lines by 4.1% in the fourth quarter. Capital International Sarl now owns 222,903 shares of the transportation company’s stock valued at $13,486,000 after acquiring an additional 8,711 shares during the last quarter. Finally, Arrow Capital Pty Ltd acquired a new stake in Delta Air Lines during the fourth quarter worth $4,267,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DAL shares. Susquehanna lowered their price target on Delta Air Lines from $80.00 to $50.00 and set a “positive” rating for the company in a report on Monday, April 7th. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. TD Cowen boosted their target price on Delta Air Lines from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 10th. Barclays lowered their price target on 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. Finally, Bank of America lowered their target price on Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.06.

Get Our Latest Report on Delta Air Lines

Delta Air Lines Trading Up 0.5 %

NYSE DAL opened at $40.81 on Friday. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The firm has a 50 day moving average of $49.72 and a two-hundred day moving average of $57.35. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $26.65 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23.

Delta Air Lines (NYSE:DAL – Get Free Report) last issued its earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm had revenue of $12.98 billion for the quarter, compared to analyst estimates of $13.85 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s payout ratio is 10.64%.

Insider Activity at Delta Air Lines

In other news, CEO Edward H. Bastian sold 91,710 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This represents a 17.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the completion of the transaction, the executive vice president now directly owns 52,789 shares in the company, valued at $3,425,478.21. This trade represents a 41.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,486 shares of company stock valued at $10,561,895 over the last three months. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Profile

(Free Report)

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.

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