Delta Air Lines, Inc. (NYSE:DAL) is Cambiar Investors LLC’s Largest Position

Cambiar Investors LLC boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 12.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,330,284 shares of the transportation company’s stock after buying an additional 142,723 shares during the quarter. Delta Air Lines accounts for approximately 2.6% of Cambiar Investors LLC’s investment portfolio, making the stock its largest position. Cambiar Investors LLC owned 0.21% of Delta Air Lines worth $67,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Senator Investment Group LP lifted its position in shares of Delta Air Lines by 90.0% during the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after purchasing an additional 225,000 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Delta Air Lines during the first quarter worth $907,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Delta Air Lines during the first quarter worth $1,309,000. Cetera Investment Advisers lifted its position in shares of Delta Air Lines by 354.6% during the first quarter. Cetera Investment Advisers now owns 218,566 shares of the transportation company’s stock worth $10,463,000 after purchasing an additional 170,483 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Delta Air Lines by 57.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 63,495 shares of the transportation company’s stock worth $3,012,000 after purchasing an additional 23,194 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

DAL opened at $58.39 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $31.57 and a fifty-two week high of $59.19. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The firm has a market cap of $37.68 billion, a PE ratio of 8.11, a P/E/G ratio of 1.10 and a beta of 1.35. The business has a fifty day simple moving average of $49.02 and a 200-day simple moving average of $47.79.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter last year, the business earned $2.03 EPS. Delta Air Lines’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Delta Air Lines, Inc. will post 6.12 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Analyst Ratings Changes

DAL has been the subject of several recent research reports. Bank of America lifted their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Sanford C. Bernstein lifted their price objective on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Barclays lifted their price objective on Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, TD Cowen decreased their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $65.40.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the sale, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the sale, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward H. Bastian sold 68,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $24,775,004.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,921 shares of company stock worth $5,665,886. Company insiders own 0.96% of the company’s stock.

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.