CIBC Asset Management Inc grew its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 63.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 147,508 shares of the transportation company's stock after buying an additional 57,169 shares during the period. CIBC Asset Management Inc's holdings in Delta Air Lines were worth $10,237,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Life Cycle Investment Partners Ltd purchased a new position in Delta Air Lines during the 4th quarter worth approximately $471,532,000. Wellington Management Group LLP raised its position in Delta Air Lines by 54.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,817,783 shares of the transportation company's stock worth $330,159,000 after buying an additional 2,058,744 shares during the last quarter. Bank of New York Mellon Corp raised its position in Delta Air Lines by 23.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,496,296 shares of the transportation company's stock worth $659,043,000 after buying an additional 1,834,385 shares during the last quarter. Marshall Wace LLP raised its position in Delta Air Lines by 16,044.7% during the 3rd quarter. Marshall Wace LLP now owns 1,263,320 shares of the transportation company's stock worth $71,693,000 after buying an additional 1,255,495 shares during the last quarter. Finally, Norges Bank purchased a new position in Delta Air Lines during the 4th quarter worth approximately $86,931,000. 69.93% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
DAL has been the subject of a number of recent research reports. Jefferies Financial Group raised their price target on shares of Delta Air Lines from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. BNP Paribas Exane reduced their price target on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating for the company in a research report on Tuesday, April 21st. Evercore reissued an "outperform" rating and set a $85.00 price target on shares of Delta Air Lines in a research report on Friday, April 17th. Bank of America reduced their price target on shares of Delta Air Lines from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Finally, Wolfe Research dropped their price objective on shares of Delta Air Lines from $81.00 to $73.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Delta Air Lines currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.85.
Check Out Our Latest Research Report on Delta Air Lines
Delta Air Lines Stock Performance
Shares of DAL stock opened at $79.55 on Friday. The firm has a 50 day moving average of $71.58 and a two-hundred day moving average of $68.72. The stock has a market capitalization of $52.26 billion, a PE ratio of 11.60, a P/E/G ratio of 1.12 and a beta of 1.30. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.54. Delta Air Lines, Inc. has a 52 week low of $45.28 and a 52 week high of $83.83.
Delta Air Lines (NYSE:DAL - Get Free Report) last issued its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The firm had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. On average, research analysts predict that Delta Air Lines, Inc. will post 5.37 EPS for the current fiscal year.
Delta Air Lines Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, May 14th. Delta Air Lines's dividend payout ratio is currently 10.93%.
Insider Buying and Selling at Delta Air Lines
In other news, EVP John E. Laughter sold 69,304 shares of Delta Air Lines stock in a transaction on Friday, April 10th. The shares were sold at an average price of $68.15, for a total value of $4,723,067.60. Following the transaction, the executive vice president directly owned 69,369 shares of the company's stock, valued at $4,727,497.35. The trade was a 49.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alain Bellemare sold 25,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the transaction, the executive vice president owned 95,025 shares of the company's stock, valued at approximately $7,738,836. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,635 shares of company stock worth $10,833,855 over the last three months. Insiders own 0.80% of the company's stock.
About Delta Air Lines
(
Free Report)
Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.
The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.
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