iA Global Asset Management Inc. Boosts Stake in Delta Air Lines, Inc. $DAL

iA Global Asset Management Inc. lifted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 116.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 198,983 shares of the transportation company’s stock after acquiring an additional 106,841 shares during the period. iA Global Asset Management Inc.’s holdings in Delta Air Lines were worth $13,228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DAL. Jefferies Financial Group Inc. bought a new position in shares of Delta Air Lines during the 3rd quarter valued at $1,041,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Delta Air Lines by 22.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the transportation company’s stock valued at $7,438,000 after buying an additional 19,829 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of Delta Air Lines by 66.0% in the third quarter. Ceredex Value Advisors LLC now owns 911,136 shares of the transportation company’s stock worth $51,707,000 after buying an additional 362,329 shares during the period. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Delta Air Lines in the third quarter worth about $12,978,000. Finally, Tredje AP fonden lifted its stake in shares of Delta Air Lines by 1,563.4% in the 4th quarter. Tredje AP fonden now owns 466,797 shares of the transportation company’s stock valued at $32,396,000 after acquiring an additional 438,735 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines News Summary

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: UBS recently reiterated a Buy rating on Delta and raised its price target to $107 from $98, reinforcing the view that the stock still has room to run. This is Why Delta Air Lines, Inc. (DAL) is a Top Stock to Buy Now for Good Returns
• Positive Sentiment: Citi also lifted its price target on DAL to $106 from $79 and reiterated a Buy rating, citing expectations for a strong airline earnings season. Citi Lifts Delta Air Lines (DAL) Target Ahead of Expected Strong Airline Earnings Season
• Positive Sentiment: Several recent articles highlight Delta’s strong run and continued investor interest, with shares extending their advance over multiple sessions as the market looks ahead to earnings. Delta Air Lines shares advance for seven consecutive session
• Neutral Sentiment: Delta is scheduled to report second-quarter results on July 10, and analysts are revising forecasts ahead of the call, making earnings the next major catalyst for the stock. Delta Air Lines Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: The FAA is moving toward a mandate for aircraft technology that could improve visibility of nearby planes; this is industry-wide regulatory news rather than a direct Delta-specific development. After Deadly D.C. Crash, FAA Moves Toward Sweeping Aircraft-Technology Mandate
• Negative Sentiment: A report about a rough Delta flight with injuries could weigh on sentiment in the near term by reviving safety concerns. “2 ½ Minutes of Terror”: Delta Air Lines Stock (NYSE:DAL) Slips After Rough Flight With Injuries

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $93.75 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. The firm has a market cap of $61.59 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.51 and a beta of 1.30. Delta Air Lines, Inc. has a 1-year low of $48.24 and a 1-year high of $95.14. The firm has a 50-day moving average of $77.62 and a 200-day moving average of $71.44.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 EPS. Sell-side analysts expect that Delta Air Lines, Inc. will post 5.36 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be given a $0.215 dividend. The ex-dividend date is Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio is 10.93%.

Analyst Ratings Changes

DAL has been the subject of several analyst reports. Susquehanna dropped their target price on Delta Air Lines from $81.00 to $78.00 and set a “positive” rating for the company in a report on Thursday, April 9th. Evercore lifted their price target on Delta Air Lines from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. TD Cowen boosted their price objective on Delta Air Lines from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Morgan Stanley increased their price objective on Delta Air Lines from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, HSBC cut their target price on shares of Delta Air Lines from $80.20 to $79.30 and set a “buy” rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Delta Air Lines has a consensus rating of “Moderate Buy” and a consensus target price of $87.51.

Insider Activity

In related news, EVP Alain Bellemare sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the transaction, the executive vice president owned 95,025 shares in the company, valued at $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John E. Laughter sold 69,304 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $68.15, for a total value of $4,723,067.60. Following the transaction, the executive vice president owned 69,369 shares of the company’s stock, valued at approximately $4,727,497.35. This represents a 49.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 149,635 shares of company stock valued at $10,833,855. Company insiders own 0.80% of the company’s stock.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.