Sunpointe LLC Makes New Investment in Delta Air Lines, Inc. (NYSE:DAL)

Sunpointe LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,890 shares of the transportation company’s stock, valued at approximately $417,000.

Other institutional investors also recently modified their holdings of the company. Ieq Capital LLC lifted its position in shares of Delta Air Lines by 17.2% during the fourth quarter. Ieq Capital LLC now owns 63,581 shares of the transportation company’s stock worth $3,847,000 after acquiring an additional 9,335 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in shares of Delta Air Lines during the 4th quarter valued at $999,000. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Delta Air Lines by 59.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 30,297 shares of the transportation company’s stock worth $1,833,000 after purchasing an additional 11,311 shares in the last quarter. Kestra Investment Management LLC bought a new position in Delta Air Lines in the 4th quarter worth about $73,000. Finally, Atria Wealth Solutions Inc. grew its holdings in Delta Air Lines by 4.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,824 shares of the transportation company’s stock valued at $836,000 after buying an additional 583 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Delta Air Lines

In other news, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,304,291.12. This represents a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,886 shares of company stock worth $11,116,463. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a report on Friday, November 15th. Barclays raised their price target on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Susquehanna upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a report on Tuesday, January 7th. UBS Group reiterated a “buy” rating and issued a $88.00 price objective on shares of Delta Air Lines in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group boosted their target price on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $78.22.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $65.04 on Thursday. The business’s 50-day moving average price is $64.26 and its 200-day moving average price is $56.11. The firm has a market capitalization of $42.05 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. Delta Air Lines, Inc. has a 12 month low of $37.29 and a 12 month high of $69.98. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. During the same period last year, the firm posted $1.28 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. Delta Air Lines’s dividend payout ratio (DPR) is currently 11.26%.

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.