Granite Investment Partners LLC Has $6.53 Million Position in Delta Air Lines, Inc. $DAL

Granite Investment Partners LLC lifted its stake in Delta Air Lines, Inc. (NYSE:DAL) by 399.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 98,188 shares of the transportation company’s stock after acquiring an additional 78,522 shares during the period. Granite Investment Partners LLC’s holdings in Delta Air Lines were worth $6,528,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Delta Air Lines by 33.5% during the 4th quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock worth $555,000 after acquiring an additional 2,302 shares during the period. Acadian Asset Management LLC acquired a new position in Delta Air Lines during the first quarter worth $178,000. Sivia Capital Partners LLC bought a new position in shares of Delta Air Lines during the second quarter valued at $555,000. Marshall Wace LLP boosted its stake in shares of Delta Air Lines by 102.2% in the 2nd quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 357,825 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Delta Air Lines by 10.6% in the second quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company’s stock valued at $2,859,000 after buying an additional 5,564 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $87.39 on Thursday. The firm has a fifty day moving average of $80.25 and a two-hundred day moving average of $72.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The stock has a market capitalization of $57.41 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.27 and a beta of 1.29. Delta Air Lines, Inc. has a 52 week low of $49.83 and a 52 week high of $95.68.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter last year, the business earned $0.46 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Delta Air Lines, Inc. will post 5.72 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be given a dividend of $0.215 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, July 9th. Delta Air Lines’s payout ratio is 10.93%.

Insider Activity

In other Delta Air Lines news, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total value of $2,036,000.00. Following the completion of the sale, the executive vice president directly owned 95,025 shares in the company, valued at $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John E. Laughter sold 69,304 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $68.15, for a total value of $4,723,067.60. Following the sale, the executive vice president directly owned 69,369 shares in the company, valued at approximately $4,727,497.35. This represents a 49.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 149,635 shares of company stock valued at $10,833,855 in the last quarter. Company insiders own 0.80% of the company’s stock.

Trending Headlines about Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Delta announced new “Basic Business” fares, expanding its premium-cabin pricing strategy with a lower-cost option that could help fill seats while preserving some pricing power. Delta launches ‘basic business’ fares without lounge access, seat selection
• Positive Sentiment: UBS said Delta’s second-quarter results should come in slightly above the top end of guidance, but noted the bigger catalyst will be management’s outlook for the third quarter and full year. Delta Air Lines outlook seen as key driver of Q2 earnings reaction, UBS says
• Positive Sentiment: Susquehanna raised its price target on Delta and maintained a positive view, reflecting continued optimism around the airline’s earnings power and premium positioning. Susquehanna Boosts Delta Air Lines (NYSE:DAL) Price Target to $108.00
• Neutral Sentiment: Delta’s stock is near recent highs and has had a sharp rally this year, so investors may be demanding strong Q3 guidance and not just an earnings beat to justify further upside. Delta Air Lines (DAL) Stock Near Highs Ahead of Q2 Earnings: Buy, Hold, or Sell?
• Negative Sentiment: Rising crude prices are pressuring airline stocks, including DAL, because higher jet-fuel costs can squeeze margins if fares do not rise enough to offset the increase. Delta Stock Faces Fuel-Cost Headwinds Following US Military Strikes Against Iran

Wall Street Analyst Weigh In

Several research analysts have recently commented on DAL shares. Sanford C. Bernstein boosted their target price on Delta Air Lines from $88.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. BMO Capital Markets upped their price target on shares of Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on shares of Delta Air Lines from $75.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Delta Air Lines in a research note on Tuesday. Finally, BNP Paribas Exane decreased their price objective on Delta Air Lines from $85.00 to $81.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Twenty-four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.60.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.