Convergence Investment Partners LLC Has $1.09 Million Stake in Delta Air Lines, Inc. $DAL

Convergence Investment Partners LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 32.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,354 shares of the transportation company’s stock after selling 7,990 shares during the period. Convergence Investment Partners LLC’s holdings in Delta Air Lines were worth $1,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DAL. Lloyd Advisory Services LLC. acquired a new stake in shares of Delta Air Lines during the fourth quarter valued at about $31,000. Camelot Portfolios LLC bought a new stake in shares of Delta Air Lines during the fourth quarter worth about $34,000. Byrne Asset Management LLC acquired a new position in shares of Delta Air Lines in the fourth quarter valued at approximately $35,000. Beacon Financial Strategies CORP acquired a new position in shares of Delta Air Lines in the fourth quarter valued at approximately $36,000. Finally, Cornerstone Planning Group LLC raised its holdings in Delta Air Lines by 451.6% in the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock valued at $34,000 after buying an additional 429 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total value of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares in the company, valued at approximately $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allison C. Ausband sold 9,710 shares of Delta Air Lines stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the completion of the sale, the executive vice president directly owned 138,854 shares of the company’s stock, valued at approximately $10,552,904. This trade represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 65,331 shares of company stock worth $5,036,638. 0.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DAL shares. The Goldman Sachs Group boosted their target price on shares of Delta Air Lines from $80.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Citigroup raised their price target on shares of Delta Air Lines from $106.00 to $110.00 and gave the company a “buy” rating in a research note on Sunday, July 12th. Wolfe Research cut their price target on shares of Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Morgan Stanley lifted their price target on shares of Delta Air Lines from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Finally, Argus set a $105.00 price objective on shares of Delta Air Lines in a research note on Tuesday, July 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.40.

Delta Air Lines Trading Up 0.1%

Shares of DAL stock opened at $84.61 on Wednesday. The company has a market cap of $55.64 billion, a P/E ratio of 14.03, a PEG ratio of 1.04 and a beta of 1.29. The stock has a 50 day simple moving average of $83.04 and a two-hundred day simple moving average of $73.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42. Delta Air Lines, Inc. has a fifty-two week low of $50.44 and a fifty-two week high of $95.68.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The firm had revenue of $17.67 billion for the quarter, compared to analysts’ expectations of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 EPS. Research analysts forecast that Delta Air Lines, Inc. will post 6.66 earnings per share for the current year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Thursday, July 9th will be paid a dividend of $0.215 per share. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, July 9th. Delta Air Lines’s payout ratio is currently 14.26%.

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.