Pinebridge Investments L.P. Invests $5.40 Million in Delta Air Lines, Inc. (NYSE:DAL)

Pinebridge Investments L.P. purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 89,290 shares of the transportation company's stock, valued at approximately $5,402,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WASHINGTON TRUST Co increased its holdings in Delta Air Lines by 7.5% during the 4th quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company's stock worth $130,000 after purchasing an additional 150 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Delta Air Lines by 48.1% during the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock valued at $28,000 after buying an additional 154 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in Delta Air Lines by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 8,555 shares of the transportation company's stock worth $554,000 after buying an additional 155 shares in the last quarter. Mason & Associates Inc raised its position in Delta Air Lines by 3.2% in the 4th quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company's stock valued at $308,000 after buying an additional 160 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in Delta Air Lines by 1.2% during the 4th quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company's stock valued at $865,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.

Delta Air Lines Price Performance

Delta Air Lines stock traded down $0.72 during midday trading on Wednesday, reaching $41.36. 4,515,890 shares of the stock were exchanged, compared to its average volume of 9,202,043. The company's fifty day moving average is $46.41 and its 200-day moving average is $56.93. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The firm has a market cap of $27.01 billion, a PE ratio of 7.76, a PEG ratio of 0.75 and a beta of 1.23.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The business had revenue of $12.98 billion during the quarter, compared to analysts' expectations of $13.85 billion. During the same quarter last year, the business posted $0.45 EPS. The company's quarterly revenue was down 5.6% on a year-over-year basis. On average, 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 Tuesday, June 3rd. Investors of record on Tuesday, May 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, May 13th. Delta Air Lines's dividend payout ratio (DPR) is 10.64%.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total value of $2,467,312.47. Following the completion of the sale, the executive vice president now owns 52,789 shares of the company's stock, valued at $3,425,478.21. This represents a 41.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William C. Carroll sold 6,783 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total transaction of $447,271.02. Following the transaction, the senior vice president now owns 10,016 shares in the company, valued at $660,455.04. The trade was a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,776 shares of company stock valued at $4,155,951 over the last three months. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on DAL. Dbs Bank lowered shares of Delta Air Lines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. The Goldman Sachs Group dropped their target price on shares of Delta Air Lines from $83.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. StockNews.com cut shares of Delta Air Lines from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Barclays reduced their price objective on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.06.

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.