Burney Co. Has $715,000 Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Burney Co. raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 159.3% in the first quarter, HoldingsChannel.com reports. The firm owned 14,946 shares of the transportation company’s stock after purchasing an additional 9,183 shares during the quarter. Burney Co.’s holdings in Delta Air Lines were worth $715,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in Delta Air Lines by 1.6% in the fourth quarter. American International Group Inc. now owns 181,107 shares of the transportation company’s stock valued at $7,286,000 after buying an additional 2,783 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Delta Air Lines by 132.3% in the 4th quarter. International Assets Investment Management LLC now owns 466,741 shares of the transportation company’s stock valued at $18,777,000 after purchasing an additional 265,852 shares during the period. Capital Advisors Inc. OK bought a new stake in shares of Delta Air Lines during the 4th quarter valued at about $4,241,000. Meeder Asset Management Inc. increased its holdings in Delta Air Lines by 325.5% in the fourth quarter. Meeder Asset Management Inc. now owns 77,647 shares of the transportation company’s stock worth $3,124,000 after purchasing an additional 59,398 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in Delta Air Lines in the first quarter valued at approximately $749,000. Institutional investors own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. HSBC initiated coverage on shares of Delta Air Lines in a research note on Monday, May 13th. They issued a “buy” rating and a $72.80 price target for the company. Jefferies Financial Group reduced their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. TD Cowen cut their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Bank of America boosted their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Susquehanna raised their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $60.70.

Delta Air Lines Trading Down 4.0 %

Shares of DAL traded down $1.67 during mid-day trading on Friday, reaching $39.83. The company’s stock had a trading volume of 9,378,288 shares, compared to its average volume of 11,232,310. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The stock has a market cap of $25.71 billion, a PE ratio of 5.73, a P/E/G ratio of 0.86 and a beta of 1.35. The company’s fifty day moving average price is $47.24 and its two-hundred day moving average price is $45.82. Delta Air Lines, Inc. has a 52 week low of $30.60 and a 52 week high of $53.86.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 EPS. On average, analysts predict that Delta Air Lines, Inc. will post 6.26 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be paid a $0.15 dividend. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio is currently 8.63%.

Insider Buying and Selling

In related news, Director Willie Cw Chiang purchased 10,000 shares of Delta Air Lines stock in a transaction dated Friday, July 12th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $878,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Willie Cw Chiang acquired 10,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was acquired at an average price of $43.90 per share, with a total value of $439,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the sale, the executive vice president now directly owns 112,421 shares in the company, valued at approximately $5,879,618.30. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.

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.