Envestnet Asset Management Inc. grew its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 8.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 481,107 shares of the transportation company's stock after acquiring an additional 38,423 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Delta Air Lines worth $29,107,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Perennial Investment Advisors LLC purchased a new position in shares of Delta Air Lines during the fourth quarter worth $207,000. Dynamic Technology Lab Private Ltd acquired a new position in Delta Air Lines during the 4th quarter worth about $1,896,000. Resona Asset Management Co. Ltd. purchased a new position in Delta Air Lines during the 4th quarter valued at about $3,275,000. Islay Capital Management LLC grew its position in Delta Air Lines by 4,476.4% in the 4th quarter. Islay Capital Management LLC now owns 12,402 shares of the transportation company's stock valued at $750,000 after acquiring an additional 12,131 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new stake in Delta Air Lines during the fourth quarter worth about $224,000. Hedge funds and other institutional investors own 69.93% of the company's stock.
Insider Buying and Selling
In related news, EVP Rahul D. Samant sold 38,023 shares of Delta Air Lines stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total value of $2,467,312.47. Following the transaction, the executive vice president now directly owns 52,789 shares in the company, valued at $3,425,478.21. This trade represents a 41.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William C. Carroll sold 8,400 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the sale, the senior vice president now owns 19,756 shares of the company's stock, valued at $1,304,291.12. This trade represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock valued at $11,116,463 over the last quarter. 0.96% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of brokerages recently weighed in on DAL. Bank of America dropped their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. UBS Group cut Delta Air Lines from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $77.00 to $42.00 in a research note on Monday, April 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a report on Tuesday, April 1st. Barclays reduced their price target on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Susquehanna lowered their price objective on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating for the company in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.06.
View Our Latest Report on Delta Air Lines
Delta Air Lines Stock Performance
DAL traded down $0.59 on Monday, reaching $40.29. The company had a trading volume of 12,488,380 shares, compared to its average volume of 9,301,430. The stock has a 50-day moving average price of $52.37 and a 200-day moving average price of $57.73. The stock has a market capitalization of $26.05 billion, a PE ratio of 7.56, a P/E/G ratio of 0.75 and a beta of 1.23. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. 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 (NYSE:DAL - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $12.98 billion for the quarter, compared to analysts' expectations of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The company's quarterly 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. As a group, research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.
Delta Air Lines Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. Delta Air Lines's payout ratio is 10.64%.
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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