Kimelman & Baird LLC Takes $31,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Kimelman & Baird LLC acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 650 shares of the transportation company’s stock, valued at approximately $31,000.

A number of other hedge funds have also recently added to or reduced their stakes in DAL. Manchester Capital Management LLC lifted its position in shares of Delta Air Lines by 24.7% in the 1st quarter. Manchester Capital Management LLC now owns 983 shares of the transportation company’s stock worth $47,000 after buying an additional 195 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Delta Air Lines by 4.0% during the first quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock valued at $276,000 after purchasing an additional 221 shares during the last quarter. Silverlake Wealth Management LLC raised its position in shares of Delta Air Lines by 2.9% during the 1st quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock worth $390,000 after purchasing an additional 229 shares during the period. Norden Group LLC lifted its holdings in shares of Delta Air Lines by 1.8% in the 1st quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock worth $670,000 after purchasing an additional 243 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Delta Air Lines by 4.7% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 5,772 shares of the transportation company’s stock worth $274,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Price Performance

NYSE DAL opened at $49.95 on Wednesday. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86. The firm has a market capitalization of $32.23 billion, a PE ratio of 7.19, a P/E/G ratio of 0.90 and a beta of 1.34. The company’s 50 day simple moving average is $43.06 and its 200 day simple moving average is $46.65. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The firm had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. During the same period in the previous year, the business posted $2.68 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 6.18 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

Analysts Set New Price Targets

DAL has been the topic of several analyst reports. Sanford C. Bernstein dropped their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group decreased 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 report on Friday, June 28th. Finally, TD Cowen cut their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $61.52.

Insiders Place Their Bets

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

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.