Pzena Investment Management LLC Has $207.01 Million Position in Delta Air Lines, Inc. $DAL

Key Points

• Pzena Investment Management cut its Delta Air Lines stake by 29.5% in the fourth quarter but still held 2.98 million shares worth about $207 million.
• Delta reported better-than-expected quarterly results, with EPS of $0.64 versus $0.61 expected and revenue of $14.20 billion, up 9.4% year over year.
• The stock is benefiting from positive sentiment, including Berkshire Hathaway’s new airline stake, lower oil prices, and mostly bullish analyst ratings with a consensus Moderate Buy target of $79.76.

Pzena Investment Management LLC lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 29.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,982,793 shares of the transportation company's stock after selling 1,247,625 shares during the period. Pzena Investment Management LLC owned approximately 0.46% of Delta Air Lines worth $207,006,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in DAL. Brighton Jones LLC raised its position in shares of Delta Air Lines by 33.5% during the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock valued at $555,000 after buying an additional 2,302 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Delta Air Lines in the first quarter valued at about $178,000. Sivia Capital Partners LLC bought a new stake in Delta Air Lines in the second quarter valued at about $555,000. Marshall Wace LLP increased its stake in Delta Air Lines by 102.2% in the second quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company's stock valued at $385,000 after acquiring an additional 357,825 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Delta Air Lines by 10.6% in the second quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company's stock valued at $2,859,000 after acquiring an additional 5,564 shares during the period. Institutional investors and hedge funds own 69.93% of the company's stock.

Insider Activity

In other news, EVP John E. Laughter sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $71.61, for a total transaction of $1,074,150.00. Following the sale, the executive vice president directly owned 54,369 shares of the company's stock, valued at $3,893,364.09. This represents a 21.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alain Bellemare sold 20,621 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $72.75, for a total transaction of $1,500,177.75. Following the sale, the executive vice president directly owned 120,025 shares in the company, valued at $8,731,818.75. This trade represents a 14.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 204,925 shares of company stock valued at $14,323,395 over the last three months. 0.80% of the stock is owned by insiders.

Delta Air Lines Stock Performance

NYSE DAL opened at $75.67 on Friday. The firm has a market cap of $49.72 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.07 and a beta of 1.25. The company has a 50 day moving average of $67.89 and a 200-day moving average of $67.14. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. Delta Air Lines, Inc. has a 1-year low of $45.28 and a 1-year high of $76.39.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. On average, equities analysts forecast that Delta Air Lines, Inc. will post 5.26 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, May 14th. Delta Air Lines's dividend payout ratio is 10.93%.

Delta Air Lines News Summary

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Recent coverage highlighted Delta as outperforming the broader market, with trading strength tied to continued investor optimism after Berkshire Hathaway disclosed a new multi-billion-dollar stake in the airline. Delta Air Lines shares jump after Berkshire Hathaway reveals a new multi-billion-dollar stake
• Positive Sentiment: Falling oil prices have also supported airline stocks, since lower jet fuel costs can improve margins for carriers like Delta Air Lines. Airline Stocks Rise As Oil Prices Drop: Here's What You Should Know
• Positive Sentiment: Analyst commentary has remained constructive, with multiple firms maintaining buy or overweight ratings and several recent price targets above current levels, reinforcing the bullish view on DAL. Analysts Offer Insights on Industrial Goods Companies: RXO, Inc. (RXO) and Delta Air Lines (DAL)

Analyst Ratings Changes

DAL has been the topic of a number of analyst reports. Rothschild & Co Redburn lowered their target price on shares of Delta Air Lines from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Wells Fargo & Company lowered their target price on shares of Delta Air Lines from $87.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. HSBC lowered their target price on shares of Delta Air Lines from $80.20 to $79.30 and set a "buy" rating on the stock in a research note on Thursday, April 9th. UBS Group upped their target price on shares of Delta Air Lines from $86.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, BNP Paribas Exane lowered their target price on shares of Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $79.76.

Delta Air Lines Profile

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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