Vanguard Group Inc. increased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,552,264 shares of the transportation company's stock after purchasing an additional 181,381 shares during the quarter. Vanguard Group Inc. owned approximately 11.42% of Delta Air Lines worth $5,173,927,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in Delta Air Lines by 7.7% during the third quarter. Federated Hermes Inc. now owns 358,870 shares of the transportation company's stock worth $20,366,000 after purchasing an additional 25,507 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Delta Air Lines by 10.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,344 shares of the transportation company's stock valued at $4,957,000 after buying an additional 8,309 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of Delta Air Lines by 41.3% in the third quarter. Independent Advisor Alliance now owns 53,601 shares of the transportation company's stock valued at $3,042,000 after purchasing an additional 15,661 shares during the period. TD Asset Management Inc increased its holdings in shares of Delta Air Lines by 14.0% in the third quarter. TD Asset Management Inc now owns 457,796 shares of the transportation company's stock valued at $25,980,000 after purchasing an additional 56,365 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Delta Air Lines in the third quarter valued at approximately $1,041,000. Hedge funds and other institutional investors own 69.93% of the company's stock.
Insiders Place Their Bets
In other news, insider Peter W. Carter sold 27,000 shares of the company's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $74.82, for a total value of $2,020,140.00. Following the sale, the insider directly owned 421,744 shares in the company, valued at $31,554,886.08. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward H. Bastian sold 100,000 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $70.26, for a total value of $7,026,000.00. Following the completion of the sale, the chief executive officer owned 1,363,448 shares in the company, valued at $95,795,856.48. This represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 353,611 shares of company stock valued at $25,182,798. Insiders own 0.96% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. TD Cowen boosted their target price on Delta Air Lines from $76.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, April 9th. HSBC dropped their price objective on Delta Air Lines from $80.20 to $79.30 and set a "buy" rating on the stock in a report on Thursday, April 9th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $81.00 price objective on shares of Delta Air Lines in a report on Wednesday, January 14th. Raymond James Financial upped their price objective on Delta Air Lines from $76.00 to $80.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 9th. Finally, Zacks Research raised Delta Air Lines from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Delta Air Lines currently has an average rating of "Moderate Buy" and a consensus price target of $79.10.
Read Our Latest Analysis on Delta Air Lines
Delta Air Lines Stock Down 0.3%
Delta Air Lines stock opened at $68.25 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The firm has a market capitalization of $44.84 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. Delta Air Lines, Inc. has a fifty-two week low of $39.94 and a fifty-two week high of $76.39. The stock's fifty day moving average is $66.26 and its two-hundred day moving average is $65.87.
Delta Air Lines (NYSE:DAL - Get Free Report) last posted 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 company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.Delta Air Lines's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. Analysts predict that Delta Air Lines, Inc. will post 5.3 EPS for the current fiscal year.
Delta Air Lines Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, May 14th. Delta Air Lines's dividend payout ratio is currently 10.93%.
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.
Further Reading
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