Investors Buy Delta Air Lines (DAL) on Weakness

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Investors purchased shares of Delta Air Lines, Inc. (NYSE:DAL) on weakness during trading hours on Friday. $104.79 million flowed into the stock on the tick-up and $45.28 million flowed out of the stock on the tick-down, for a money net flow of $59.51 million into the stock. Of all stocks tracked, Delta Air Lines had the 13th highest net in-flow for the day. Delta Air Lines traded down ($0.20) for the day and closed at $55.90

A number of brokerages have issued reports on DAL. Macquarie set a $69.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Monday, October 8th. ValuEngine downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Bank of America set a $67.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Wednesday, October 3rd. Imperial Capital reduced their price objective on shares of Delta Air Lines from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 3rd. Finally, Goldman Sachs Group began coverage on shares of Delta Air Lines in a research report on Monday, November 12th. They set a “neutral” rating and a $64.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $67.74.

The stock has a market capitalization of $38.33 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.37.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 11th. The transportation company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.06. The firm had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.96 billion. Delta Air Lines had a net margin of 7.87% and a return on equity of 27.72%. During the same period in the prior year, the firm earned $1.57 EPS. As a group, analysts predict that Delta Air Lines, Inc. will post 5.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 7th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Tuesday, November 6th. Delta Air Lines’s dividend payout ratio is presently 28.40%.

In other news, EVP Joanne D. Smith sold 4,353 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $57.50, for a total value of $250,297.50. Following the sale, the executive vice president now directly owns 90,972 shares of the company’s stock, valued at approximately $5,230,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Easter III sold 3,000 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $58.47, for a total transaction of $175,410.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC boosted its stake in Delta Air Lines by 10.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 2,336,957 shares of the transportation company’s stock worth $135,146,000 after purchasing an additional 217,244 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Delta Air Lines by 1.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 6,867,623 shares of the transportation company’s stock worth $397,155,000 after purchasing an additional 69,137 shares in the last quarter. Kentucky Retirement Systems bought a new position in Delta Air Lines in the 3rd quarter worth about $1,940,000. Banco de Sabadell S.A boosted its stake in Delta Air Lines by 2.7% in the 3rd quarter. Banco de Sabadell S.A now owns 98,684 shares of the transportation company’s stock worth $5,716,000 after purchasing an additional 2,589 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Delta Air Lines by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,543,037 shares of the transportation company’s stock worth $89,234,000 after purchasing an additional 16,002 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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Delta Air Lines Company Profile (NYSE:DAL)

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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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