Delta Air Lines, Inc. (NYSE:DAL) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 51.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,461 shares of the transportation company's stock after purchasing an additional 22,309 shares during the period. Canada Pension Plan Investment Board's holdings in Delta Air Lines were worth $3,960,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DAL. Garden State Investment Advisory Services LLC purchased a new stake in Delta Air Lines during the fourth quarter valued at about $278,000. Insigneo Advisory Services LLC grew its holdings in shares of Delta Air Lines by 2.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 7,671 shares of the transportation company's stock worth $464,000 after purchasing an additional 212 shares during the period. Jump Financial LLC purchased a new position in Delta Air Lines in the fourth quarter valued at approximately $20,300,000. Forest Avenue Capital Management LP acquired a new position in Delta Air Lines during the fourth quarter valued at approximately $48,369,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in Delta Air Lines during the fourth quarter worth approximately $528,000. Institutional investors and hedge funds own 69.93% of the company's stock.

Delta Air Lines Stock Performance

DAL stock opened at $40.35 on Wednesday. The company has a 50-day simple moving average of $48.71 and a 200 day simple moving average of $57.23. The company has a market capitalization of $26.35 billion, a P/E ratio of 7.57, a PEG ratio of 0.75 and a beta of 1.23. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). The company had revenue of $12.98 billion for the quarter, compared to analyst estimates of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. Delta Air Lines's revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. Sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines's payout ratio is currently 10.64%.

Insiders Place Their Bets

In other Delta Air Lines news, SVP William C. Carroll sold 6,783 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $65.94, for a total value of $447,271.02. Following the transaction, the senior vice president now owns 10,016 shares of the company's stock, valued at approximately $660,455.04. This represents a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rahul D. Samant sold 17,970 shares of the firm's stock in a transaction on 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 sale, the executive vice president now directly owns 35,889 shares of the company's stock, valued at approximately $2,479,212.12. This represents a 33.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,776 shares of company stock worth $4,155,951. 0.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DAL. TD Cowen lifted their target price on shares of Delta Air Lines from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, April 10th. UBS Group lowered Delta Air Lines from a "buy" rating to a "neutral" rating and lowered their target price for the company from $77.00 to $42.00 in a research note on Monday, April 7th. Bank of America reduced their price target on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Jefferies Financial Group reiterated a "hold" rating and set a $46.00 price objective (down previously from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Finally, Citigroup decreased 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. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company 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.

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