Cornercap Investment Counsel Inc. Sells 5,704 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Cornercap Investment Counsel Inc. reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,003 shares of the transportation company’s stock after selling 5,704 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Delta Air Lines were worth $2,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AGF Management Ltd. acquired a new position in shares of Delta Air Lines in the fourth quarter worth approximately $988,000. QRG Capital Management Inc. lifted its stake in shares of Delta Air Lines by 16.9% in the fourth quarter. QRG Capital Management Inc. now owns 27,014 shares of the transportation company’s stock worth $1,087,000 after acquiring an additional 3,906 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Delta Air Lines by 9.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 423,095 shares of the transportation company’s stock worth $16,391,000 after acquiring an additional 34,819 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Delta Air Lines by 6.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 125,562 shares of the transportation company’s stock worth $5,051,000 after acquiring an additional 7,144 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in shares of Delta Air Lines in the fourth quarter worth approximately $208,000. 69.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Willie Cw Chiang purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was acquired at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $878,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group cut their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Citigroup boosted their price target on Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. TD Cowen dropped their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein dropped their price target on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, July 12th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $60.70.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $44.28 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines, Inc. has a twelve month low of $30.60 and a twelve month high of $53.86. The stock’s 50 day moving average is $42.35 and its 200-day moving average is $46.08. The firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.93 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. During the same period in the previous year, the company earned $2.68 earnings per share. Delta Air Lines’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Delta Air Lines, Inc. will post 5.94 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, July 30th. This represents a $0.60 annualized dividend and a yield of 1.36%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s dividend payout ratio is 8.63%.

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.