Charles Schwab Investment Management Inc. grew its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,690,361 shares of the transportation company's stock after purchasing an additional 92,772 shares during the period. Charles Schwab Investment Management Inc. owned about 0.57% of Delta Air Lines worth $160,900,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in Delta Air Lines by 5,224.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company's stock valued at $189,081,000 after purchasing an additional 4,255,262 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Delta Air Lines by 1,469.9% during the 1st quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company's stock worth $144,273,000 after buying an additional 3,098,237 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Delta Air Lines by 405.3% in the 4th 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 last quarter. Bank of New York Mellon Corp increased its stake in shares of Delta Air Lines by 66.9% in the 1st quarter. Bank of New York Mellon Corp now owns 5,915,545 shares of the transportation company's stock valued at $257,918,000 after buying an additional 2,370,795 shares during the period. Finally, Sanders Capital LLC raised its position in shares of Delta Air Lines by 6.9% during the fourth quarter. Sanders Capital LLC now owns 29,764,524 shares of the transportation company's stock worth $1,800,754,000 after acquiring an additional 1,922,932 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. TD Cowen raised their target price on shares of Delta Air Lines from $55.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, July 14th. BNP Paribas Exane boosted their price target on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Sanford C. Bernstein restated an "outperform" rating on shares of Delta Air Lines in a report on Friday, July 11th. Finally, Bernstein Bank raised their price objective on shares of Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Delta Air Lines presently has a consensus rating of "Moderate Buy" and an average price target of $66.21.
Get Our Latest Report on DAL
Delta Air Lines Stock Up 1.7%
Shares of Delta Air Lines stock traded up $1.02 on Wednesday, hitting $59.46. The company had a trading volume of 9,096,407 shares, compared to its average volume of 10,871,854. The stock has a 50-day moving average of $52.04 and a 200-day moving average of $51.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The firm has a market capitalization of $38.82 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.67 and a beta of 1.56.
Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.09. The firm had revenue of $15,507,000 billion during the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.36 EPS. Research analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.
Delta Air Lines Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, July 31st. Delta Air Lines's payout ratio is 10.87%.
Insider Buying and Selling at Delta Air Lines
In related news, EVP Steven M. Sear sold 18,000 shares of Delta Air Lines stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the sale, the executive vice president owned 97,505 shares of the company's stock, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 45,423 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the transaction, the executive vice president directly owned 131,731 shares of the company's stock, valued at $7,318,974.36. This trade represents a 25.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,973 shares of company stock worth $7,511,746 in the last three months. 0.96% of the stock is currently owned by company insiders.
Delta Air Lines Profile
(
Free Report)
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.
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