Bessemer Group Inc. Has $683,000 Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Bessemer Group Inc. lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 2.1% during the first quarter, HoldingsChannel.com reports. The fund owned 15,667 shares of the transportation company’s stock after selling 344 shares during the period. Bessemer Group Inc.’s holdings in Delta Air Lines were worth $683,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake 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. Graney & King LLC acquired a new position in Delta Air Lines during the 4th quarter worth approximately $34,000. Continuum Advisory LLC lifted its stake in Delta Air Lines by 44.2% in the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 179 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in Delta Air Lines in the fourth quarter valued at approximately $45,000. Finally, Millstone Evans Group LLC bought a new stake in shares of Delta Air Lines during the fourth quarter worth $46,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Down 0.3%

Shares of Delta Air Lines stock opened at $49.01 on Wednesday. The stock’s 50-day moving average is $47.82 and its 200 day moving average is $53.17. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The firm has a market cap of $32.00 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 2.49 and a beta of 1.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.38 and a quick ratio of 0.33.

Delta Air Lines (NYSE:DAL) last posted its quarterly 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 business 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 28.18% and a net margin of 5.91%. Delta Air Lines’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.15. This represents a $0.75 annualized dividend and a yield of 1.53%. Delta Air Lines’s dividend payout ratio is currently 10.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DAL. Bank of America dropped their price target on Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group dropped their target price on Delta Air Lines from $83.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Sanford C. Bernstein set a $60.00 price objective on Delta Air Lines and gave the company an “outperform” rating in a research note on Wednesday, June 18th. Raymond James Financial dropped their price objective on shares of Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Finally, TD Cowen boosted their target price on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Delta Air Lines has an average rating of “Moderate Buy” and an average target price of $61.67.

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.