Hourglass Capital LLC Sells 83,255 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Hourglass Capital LLC decreased its position in Delta Air Lines, Inc. (NYSE:DAL) by 51.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 77,370 shares of the transportation company’s stock after selling 83,255 shares during the quarter. Hourglass Capital LLC’s holdings in Delta Air Lines were worth $4,681,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pzena Investment Management LLC bought a new position in shares of Delta Air Lines in the third quarter valued at about $281,206,000. Castle Hook Partners LP acquired a new stake in Delta Air Lines in the 3rd quarter valued at about $189,296,000. Sanders Capital LLC raised its stake in shares of Delta Air Lines by 2.8% in the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock worth $1,414,074,000 after acquiring an additional 749,099 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Delta Air Lines by 419.5% during the third quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock worth $28,551,000 after purchasing an additional 453,926 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Delta Air Lines by 325.7% during the fourth quarter. Retirement Systems of Alabama now owns 592,808 shares of the transportation company’s stock valued at $35,865,000 after purchasing an additional 453,547 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Buying and Selling

In related news, SVP William C. Carroll sold 6,783 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total value of $447,271.02. Following the sale, the senior vice president now directly owns 10,016 shares of the company’s stock, valued at approximately $660,455.04. The trade was a 40.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total value of $2,467,312.47. Following the transaction, the executive vice president now owns 52,789 shares of the company’s stock, valued at approximately $3,425,478.21. This trade represents a 41.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. TD Cowen boosted their price objective on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays raised their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. UBS Group reissued a “buy” rating and set a $88.00 price target on shares of Delta Air Lines in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and a consensus price target of $78.22.

Delta Air Lines Trading Up 2.1 %

Shares of NYSE DAL opened at $65.41 on Friday. Delta Air Lines, Inc. has a twelve month low of $37.29 and a twelve month high of $69.98. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.80 and a beta of 1.36. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The company’s fifty day moving average is $64.14 and its 200-day moving average is $55.53.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.43% and a net margin of 5.61%. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be given a $0.15 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 0.92%. Delta Air Lines’s dividend payout ratio is presently 11.26%.

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.