Gotham Asset Management LLC Cuts Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Gotham Asset Management LLC lessened its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,910 shares of the transportation company's stock after selling 28,752 shares during the quarter. Gotham Asset Management LLC owned 0.06% of Delta Air Lines worth $22,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boston Partners purchased a new position in Delta Air Lines in the 4th quarter valued at about $328,398,000. Norges Bank purchased a new stake in Delta Air Lines during the fourth quarter valued at about $152,342,000. Adage Capital Partners GP L.L.C. raised its holdings in Delta Air Lines by 405.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,054,285 shares of the transportation company's stock valued at $184,784,000 after buying an additional 2,449,874 shares during the period. FMR LLC boosted its position in Delta Air Lines by 29.3% during the 4th quarter. FMR LLC now owns 9,955,818 shares of the transportation company's stock worth $602,327,000 after purchasing an additional 2,254,560 shares during the period. Finally, Sanders Capital LLC boosted its position in shares of Delta Air Lines by 6.9% in the fourth quarter. Sanders Capital LLC now owns 29,764,524 shares of the transportation company's stock worth $1,800,754,000 after buying an additional 1,922,932 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Stock Up 3.3%

Delta Air Lines stock traded up $1.71 during trading on Tuesday, hitting $52.70. 2,629,749 shares of the company were exchanged, compared to its average volume of 9,394,586. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The business's 50 day moving average is $43.95 and its 200 day moving average is $56.38. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company has a market capitalization of $34.41 billion, a P/E ratio of 9.95, a PEG ratio of 0.75 and a beta of 1.46.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 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 30.41% and a net margin of 5.61%. The business's revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. Analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, May 13th. Delta Air Lines's payout ratio is 10.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DAL shares. Citigroup lowered their price objective on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Raymond James cut their price objective on 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. Bank of America cut their price objective on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. TD Cowen raised their price target on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, April 10th. Finally, StockNews.com lowered shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.37.

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.