Convergence Investment Partners LLC Takes $999,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Convergence Investment Partners LLC bought a new position in Delta Air Lines, Inc. (NYSE:DAL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 16,505 shares of the transportation company’s stock, valued at approximately $999,000.

Other hedge funds have also bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Delta Air Lines by 59.6% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 30,297 shares of the transportation company’s stock valued at $1,833,000 after buying an additional 11,311 shares in the last quarter. Kestra Investment Management LLC bought a new position in Delta Air Lines in the 4th quarter valued at about $73,000. Atria Wealth Solutions Inc. boosted its stake in Delta Air Lines by 4.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,824 shares of the transportation company’s stock valued at $836,000 after purchasing an additional 583 shares during the last quarter. Truist Financial Corp increased its holdings in Delta Air Lines by 7.9% during the 4th quarter. Truist Financial Corp now owns 160,130 shares of the transportation company’s stock worth $9,688,000 after purchasing an additional 11,777 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Delta Air Lines by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 97,914 shares of the transportation company’s stock worth $5,924,000 after purchasing an additional 4,208 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com raised Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $83.00 target price on shares of Delta Air Lines in a research note on Friday, November 15th. UBS Group reissued a “buy” rating and set a $88.00 price target on shares of Delta Air Lines in a research report on Tuesday, November 26th. Jefferies Financial Group upped their price objective on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average target price of $78.22.

Insider Activity at Delta Air Lines

In related news, 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 transaction of $2,467,312.47. Following the sale, the executive vice president now owns 52,789 shares of the company’s stock, valued at approximately $3,425,478.21. This represents a 41.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of Delta Air Lines stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the transaction, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at $30,721,357.15. The trade was a 17.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,886 shares of company stock worth $11,116,463. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $65.04 on Thursday. The business’s 50 day simple moving average is $64.26 and its 200 day simple moving average is $56.11. Delta Air Lines, Inc. has a 12 month low of $37.29 and a 12 month high of $69.98. The company has a market cap of $42.05 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.77 and a beta of 1.36. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last posted its quarterly 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 30.41% and a net margin of 5.61%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

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

Delta Air Lines Company Profile

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.