Patient Capital Management LLC Has $76.98 Million Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Patient Capital Management LLC boosted its position in Delta Air Lines, Inc. (NYSE:DAL) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,913,428 shares of the transportation company’s stock after buying an additional 87,939 shares during the quarter. Delta Air Lines accounts for approximately 4.1% of Patient Capital Management LLC’s portfolio, making the stock its 7th biggest position. Patient Capital Management LLC’s holdings in Delta Air Lines were worth $76,977,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. increased its position in shares of Delta Air Lines by 1.6% during the fourth quarter. American International Group Inc. now owns 181,107 shares of the transportation company’s stock worth $7,286,000 after acquiring an additional 2,783 shares during the period. International Assets Investment Management LLC increased its position in shares of Delta Air Lines by 132.3% during the fourth quarter. International Assets Investment Management LLC now owns 466,741 shares of the transportation company’s stock worth $18,777,000 after acquiring an additional 265,852 shares during the period. Capital Advisors Inc. OK purchased a new position in shares of Delta Air Lines during the fourth quarter worth approximately $4,241,000. Meeder Asset Management Inc. increased its position in shares of Delta Air Lines by 325.5% during the fourth quarter. Meeder Asset Management Inc. now owns 77,647 shares of the transportation company’s stock worth $3,124,000 after acquiring an additional 59,398 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Delta Air Lines by 7.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,127,607 shares of the transportation company’s stock worth $45,364,000 after acquiring an additional 73,936 shares during the period. Institutional investors own 69.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DAL. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Bank of America lifted their price objective on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Citigroup lifted their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. UBS Group began coverage on shares of Delta Air Lines in a report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective on the stock. Finally, Morgan Stanley reissued an “overweight” rating and set a $85.00 price objective on shares of Delta Air Lines in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and an average price target of $59.85.

Insider Transactions at Delta Air Lines

In other news, President Glen W. Hauenstein sold 100,000 shares of Delta Air Lines stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the completion of the sale, the president now directly owns 217,584 shares in the company, valued at $10,672,495.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the completion of the transaction, the president now directly owns 217,584 shares in the company, valued at $10,672,495.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the transaction, the executive vice president now owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,919 shares of company stock worth $8,834,653. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of NYSE:DAL traded down $0.45 on Thursday, hitting $50.17. 5,245,721 shares of the company were exchanged, compared to its average volume of 9,669,436. Delta Air Lines, Inc. has a 1-year low of $30.60 and a 1-year high of $53.86. The stock’s 50 day moving average price is $50.12 and its 200 day moving average price is $44.28. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $32.38 billion, a P/E ratio of 6.41, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.66 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. Delta Air Lines’s payout ratio is currently 5.14%.

About Delta Air Lines

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.