Truist Financial Corp Has $6.18 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

Truist Financial Corp lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 19.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,721 shares of the transportation company's stock after selling 37,805 shares during the quarter. Truist Financial Corp's holdings in Delta Air Lines were worth $6,184,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Morgan Stanley increased its position in Delta Air Lines by 8.7% during the third quarter. Morgan Stanley now owns 10,839,122 shares of the transportation company's stock worth $401,048,000 after buying an additional 865,746 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in Delta Air Lines by 17.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 5,091,528 shares of the transportation company's stock valued at $188,514,000 after purchasing an additional 743,882 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Delta Air Lines by 3.0% during the 3rd quarter. Northern Trust Corp now owns 4,966,330 shares of the transportation company's stock worth $183,754,000 after purchasing an additional 145,513 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Delta Air Lines by 27.0% during the third quarter. Invesco Ltd. now owns 4,813,848 shares of the transportation company's stock worth $178,112,000 after buying an additional 1,022,957 shares in the last quarter. Finally, U S Global Investors Inc. raised its position in shares of Delta Air Lines by 21.1% in the fourth quarter. U S Global Investors Inc. now owns 4,434,509 shares of the transportation company's stock valued at $178,400,000 after buying an additional 773,636 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Alain Bellemare sold 24,073 shares of Delta Air Lines stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the sale, the executive vice president now owns 141,451 shares of the company's stock, valued at approximately $6,911,295.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Willie Cw Chiang acquired 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $49.50 per share, for a total transaction of $495,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $495,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of Delta Air Lines stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total value of $1,176,206.78. Following the transaction, the executive vice president now owns 141,451 shares in the company, valued at approximately $6,911,295.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,073 shares of company stock worth $8,581,207. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on DAL shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, April 11th. UBS Group began coverage on Delta Air Lines in a research note on Wednesday, March 20th. They issued a "buy" rating and a $59.00 target price for the company. Susquehanna raised their price target on Delta Air Lines from $47.00 to $54.00 and gave the stock a "positive" rating in a research note on Tuesday, April 9th. StockNews.com cut Delta Air Lines from a "buy" rating to a "hold" rating in a report on Thursday, February 22nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $85.00 target price on shares of Delta Air Lines in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $58.29.

Delta Air Lines Stock Up 1.0 %

Delta Air Lines stock traded up $0.52 during trading on Friday, reaching $51.55. 9,165,946 shares of the company's stock were exchanged, compared to its average volume of 12,487,077. The company's 50-day moving average is $45.98 and its two-hundred day moving average is $40.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $51.65. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 0.77 and a beta of 1.38.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. The company had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $12.51 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The company's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, analysts predict that Delta Air Lines, Inc. will post 6.61 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, May 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. Delta Air Lines's payout ratio is currently 5.14%.

Delta Air Lines Company 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.