Cibc World Markets Corp boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 34.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,449 shares of the transportation company's stock after acquiring an additional 20,371 shares during the period. Cibc World Markets Corp's holdings in Delta Air Lines were worth $4,807,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Delta Air Lines in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC purchased a new stake in Delta Air Lines in the 4th quarter valued at approximately $29,000. Hemington Wealth Management grew its holdings in Delta Air Lines by 48.1% during the 4th 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. Crews Bank & Trust purchased a new position in Delta Air Lines during the fourth quarter worth $30,000. Finally, Modus Advisors LLC acquired a new position in shares of Delta Air Lines in the fourth quarter worth $33,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
DAL has been the topic of a number of analyst reports. Barclays decreased their price objective on Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Susquehanna lifted their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, January 7th. UBS Group reduced their price objective on shares of Delta Air Lines from $90.00 to $77.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Citigroup lowered their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, TD Cowen increased their price target on Delta Air Lines from $78.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Delta Air Lines currently has an average rating of "Buy" and an average price target of $76.29.
Get Our Latest Research Report on Delta Air Lines
Insider Transactions at Delta Air Lines
In other news, EVP Rahul D. Samant sold 17,970 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $69.08, for a total value of $1,241,367.60. Following the completion of the sale, the executive vice president now owns 35,889 shares of the company's stock, valued at $2,479,212.12. This represents a 33.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares of the company's stock, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,886 shares of company stock valued at $11,116,463 over the last 90 days. Corporate insiders own 0.96% of the company's stock.
Delta Air Lines Trading Up 4.5 %
Delta Air Lines stock traded up $2.12 during midday trading on Monday, reaching $48.89. The stock had a trading volume of 9,833,900 shares, compared to its average volume of 8,799,863. The stock's 50-day simple moving average is $60.80 and its 200 day simple moving average is $58.25. Delta Air Lines, Inc. has a twelve month low of $37.29 and a twelve month high of $69.98. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The stock has a market capitalization of $31.61 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34.
Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.09. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. Analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.
Delta Air Lines Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines's payout ratio is currently 11.26%.
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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