Patrick M Sweeney & Associates Inc. Takes $222,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Patrick M Sweeney & Associates Inc. purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,511 shares of the transportation company’s stock, valued at approximately $222,000.

Other large investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its position in shares of Delta Air Lines by 1,302.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,318 shares of the transportation company’s stock valued at $49,000 after buying an additional 1,224 shares in the last quarter. Raymond James & Associates lifted its stake in Delta Air Lines by 7.3% during the third quarter. Raymond James & Associates now owns 598,661 shares of the transportation company’s stock worth $22,150,000 after purchasing an additional 40,494 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Delta Air Lines by 11.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 24,216 shares of the transportation company’s stock valued at $896,000 after purchasing an additional 2,580 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Delta Air Lines by 92.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,325 shares of the transportation company’s stock valued at $5,340,000 after purchasing an additional 69,419 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Delta Air Lines by 18.4% during the 3rd quarter. Mackenzie Financial Corp now owns 352,927 shares of the transportation company’s stock worth $12,437,000 after buying an additional 54,878 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Willie Cw Chiang acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average cost of $49.50 per share, with a total value of $495,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $495,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Glen W. Hauenstein sold 100,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the sale, the president now owns 217,584 shares in the company, valued at $10,672,495.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Willie Cw Chiang purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $49.50 per share, for a total transaction of $495,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $495,000. The disclosure for this purchase can be found here. Insiders have sold 174,073 shares of company stock worth $8,581,207 in the last quarter. Insiders own 0.89% of the company’s stock.

Delta Air Lines Stock Down 1.4 %

Delta Air Lines stock traded down $0.73 during midday trading on Tuesday, reaching $52.20. The stock had a trading volume of 6,582,856 shares, compared to its average volume of 10,742,002. The company has a fifty day moving average price of $46.41 and a two-hundred day moving average price of $41.09. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.00. 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 company has a market capitalization of $33.41 billion, a P/E ratio of 6.71, a PEG ratio of 0.76 and a beta of 1.38.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The company had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. Delta Air Lines’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Delta Air Lines, Inc. will post 6.61 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Monday, May 13th. Delta Air Lines’s payout ratio is presently 5.14%.

Wall Street Analysts Forecast Growth

DAL has been the topic of a number of recent analyst reports. Bank of America lifted their target price on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Susquehanna boosted their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, UBS Group began coverage on Delta Air Lines in a research report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective on the stock. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines has an average rating of “Buy” and a consensus price target of $58.29.

Delta Air Lines 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.