BTC Capital Management Inc. Has $702,000 Stake in Delta Air Lines, Inc. (NYSE:DAL)

BTC Capital Management Inc. lifted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,801 shares of the transportation company’s stock after purchasing an additional 1,461 shares during the quarter. BTC Capital Management Inc.’s holdings in Delta Air Lines were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors increased its holdings in Delta Air Lines by 8.8% in the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after purchasing an additional 1,689,053 shares during the period. Capital World Investors raised its position in shares of Delta Air Lines by 0.3% in the 1st quarter. Capital World Investors now owns 15,030,836 shares of the transportation company’s stock worth $719,526,000 after acquiring an additional 49,712 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Delta Air Lines by 220.2% in the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after purchasing an additional 5,914,301 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Delta Air Lines by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,374,052 shares of the transportation company’s stock valued at $336,908,000 after purchasing an additional 826,232 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Delta Air Lines by 27.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after buying an additional 1,376,221 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Delta Air Lines

In other news, Director Willie Cw Chiang purchased 10,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were acquired at an average price of $43.90 per share, with a total value of $439,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $878,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Sanford C. Bernstein lowered their price objective on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. TD Cowen lowered their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Citigroup lifted their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. HSBC initiated coverage on shares of Delta Air Lines in a report on Monday, May 13th. They set a “buy” rating and a $72.80 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $60.70.

Delta Air Lines Price Performance

Shares of DAL traded up $0.25 during mid-day trading on Monday, reaching $40.40. 1,584,706 shares of the stock traded hands, compared to its average volume of 9,634,753. The company has a market cap of $26.07 billion, a price-to-earnings ratio of 5.78, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $53.86. The firm has a fifty day moving average price of $44.93 and a 200 day moving average price of $45.96. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.01). The business had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. Delta Air Lines’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 earnings per share. As a group, equities research analysts predict that Delta Air Lines, Inc. will post 6.26 earnings per share for the current year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.49%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s payout ratio is presently 8.63%.

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.