Ninety One UK Ltd Sells 184,652 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Ninety One UK Ltd has decreased its stake in Delta Air Lines by 5.6%, selling 184,652 shares and maintaining 3,124,368 shares worth approximately $153.7 million.
• Delta Air Lines reported an EPS of $2.10 for the last quarter, exceeding estimates, but its revenue of $15.51 billion fell short of analyst expectations.
• The company has announced a quarterly dividend of $0.1875 to be paid on November 6th, representing a 1.3% dividend yield.

Ninety One UK Ltd reduced its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,124,368 shares of the transportation company's stock after selling 184,652 shares during the quarter. Ninety One UK Ltd owned about 0.48% of Delta Air Lines worth $153,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Signature Resources Capital Management LLC bought a new stake in shares of Delta Air Lines in the 2nd quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new position in Delta Air Lines in the 1st quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new position in Delta Air Lines in the 1st quarter valued at approximately $33,000. Hara Capital LLC bought a new position in Delta Air Lines in the 1st quarter valued at approximately $35,000. Finally, N.E.W. Advisory Services LLC bought a new position in Delta Air Lines in the 1st quarter valued at approximately $40,000. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Trading Down 1.6%

NYSE:DAL opened at $56.71 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The firm has a market capitalization of $37.03 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.51. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98. The business has a fifty day moving average price of $58.13 and a 200-day moving average price of $51.01.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.01 by $0.09. The firm had revenue of $15.51 billion during the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%.Delta Air Lines's revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $2.36 EPS. Sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 16th. Delta Air Lines's dividend payout ratio is 10.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upped their price objective on Delta Air Lines from $60.00 to $67.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Raymond James Financial upped their price objective on Delta Air Lines from $60.00 to $68.00 in a research report on Friday, July 11th. Citigroup upped their price objective on Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a research report on Friday, July 11th. Jefferies Financial Group upped their price objective on Delta Air Lines from $56.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft increased 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.99.

Insider Transactions at Delta Air Lines

In other news, Director Michael P. Huerta sold 2,500 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total value of $151,750.00. Following the completion of the sale, the director directly owned 33,245 shares in the company, valued at $2,017,971.50. This represents a 6.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 35,000 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the sale, the chief executive officer owned 632,823 shares of the company's stock, valued at $35,615,278.44. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,473 shares of company stock worth $7,663,496 over the last three months. 0.96% of the stock is currently owned by insiders.

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.

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