Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Patient Capital Management LLC

Patient Capital Management LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 947,509 shares of the transportation company’s stock after selling 316,065 shares during the quarter. Delta Air Lines accounts for 2.7% of Patient Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Patient Capital Management LLC owned 0.15% of Delta Air Lines worth $57,324,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DAL. New Wave Wealth Advisors LLC acquired a new position in Delta Air Lines during the fourth quarter worth $27,000. Hemington Wealth Management boosted its position in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after purchasing an additional 154 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of Delta Air Lines during the 4th quarter worth $29,000. Crews Bank & Trust acquired a new position in shares of Delta Air Lines during the 4th quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Delta Air Lines by 414.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 431 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Up 3.6%

Delta Air Lines stock opened at $52.99 on Wednesday. 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, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The firm’s fifty day simple moving average is $43.91 and its 200-day simple moving average is $56.36. The company has a market capitalization of $34.60 billion, a P/E ratio of 9.94, a P/E/G ratio of 0.75 and a beta of 1.46.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). The company had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS. Sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, May 13th. Delta Air Lines’s dividend payout ratio (DPR) is presently 10.64%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DAL. Bank of America cut their target price on shares of Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. UBS Group lifted their price objective on Delta Air Lines from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Dbs Bank lowered Delta Air Lines from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Raymond James dropped their price target on Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Citigroup cut their price target on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Delta Air Lines has an average rating of “Moderate Buy” and an average price target of $60.42.

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.