Pzena Investment Management LLC trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 14.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,231,612 shares of the transportation company's stock after selling 700,658 shares during the quarter. Pzena Investment Management LLC owned approximately 0.65% of Delta Air Lines worth $184,498,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in shares of Delta Air Lines by 5.9% during the first quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock valued at $7,037,000 after purchasing an additional 9,034 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Delta Air Lines by 152.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock worth $548,000 after acquiring an additional 7,586 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Delta Air Lines by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock worth $1,670,000 after acquiring an additional 2,973 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Delta Air Lines by 21.2% during the first quarter. Asset Management One Co. Ltd. now owns 145,240 shares of the transportation company's stock worth $6,332,000 after acquiring an additional 25,406 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Delta Air Lines by 3.7% during the first quarter. GAMMA Investing LLC now owns 9,585 shares of the transportation company's stock worth $418,000 after acquiring an additional 344 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.
Delta Air Lines Stock Performance
DAL stock traded down $0.03 during midday trading on Friday, hitting $56.31. The company's stock had a trading volume of 8,975,576 shares, compared to its average volume of 9,910,132. The stock's 50-day moving average price is $50.26 and its 200 day moving average price is $52.59. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The stock has a market cap of $36.77 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 1.72 and a beta of 1.49.
Delta Air Lines (NYSE:DAL - Get Free Report) last issued its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.09. The firm had revenue of $15,507,000 billion for 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%. The business's revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $2.36 earnings per share. On average, equities analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.
Delta Air Lines Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. This represents a $0.75 annualized dividend and a dividend yield of 1.33%. Delta Air Lines's payout ratio is presently 8.70%.
Insider Activity at Delta Air Lines
In related news, EVP Steven M. Sear sold 18,000 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the sale, the executive vice president directly owned 97,505 shares in the company, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter W. Carter sold 17,550 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total value of $1,003,684.50. Following the sale, the executive vice president owned 191,442 shares in the company, valued at approximately $10,948,567.98. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,973 shares of company stock worth $5,541,946. 0.88% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on Delta Air Lines from $58.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Raymond James Financial raised their price objective on Delta Air Lines from $60.00 to $68.00 in a research report on Friday, July 11th. Susquehanna Bancshares raised their price objective on Delta Air Lines from $51.00 to $65.00 and gave the stock a "positive" rating in a research report on Friday, July 11th. HSBC raised their price objective on Delta Air Lines from $64.00 to $69.20 in a research report on Friday, July 11th. Finally, TD Cowen lifted their target price on Delta Air Lines from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and an average target price of $66.21.
Get Our Latest Research Report on Delta Air Lines
About Delta Air Lines
(
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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