Aviva PLC Reduces Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Aviva PLC lessened its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 85.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 116,775 shares of the transportation company's stock after selling 707,250 shares during the period. Aviva PLC's holdings in Delta Air Lines were worth $7,065,000 at the end of the most recent reporting period.

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 Delta Air Lines in the fourth quarter valued at $27,000. Hemington Wealth Management lifted its stake in shares of Delta Air Lines by 48.1% in the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock valued at $28,000 after purchasing an additional 154 shares during the period. Roxbury Financial LLC purchased a new stake in Delta Air Lines during the fourth quarter worth about $29,000. Crews Bank & Trust acquired a new position in Delta Air Lines during the fourth quarter worth about $30,000. Finally, Modus Advisors LLC purchased a new position in Delta Air Lines in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 69.93% of the company's stock.

Insider Activity

In other news, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction on 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 $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William C. Carroll sold 6,783 shares of the firm's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 10,016 shares in the company, valued at approximately $660,455.04. This represents a 40.38 % 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 in the last ninety days. Company insiders own 0.96% of the company's stock.

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Analyst Ratings Changes

DAL has been the topic of a number of research reports. The Goldman Sachs Group lowered their price target on Delta Air Lines from $83.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Bank of America lowered their target price on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Dbs Bank downgraded Delta Air Lines from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Susquehanna dropped their target price on shares of Delta Air Lines from $80.00 to $50.00 and set a "positive" rating for the company in a report on Monday, April 7th. Finally, TD Cowen lifted their target price on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday. Four equities 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

Delta Air Lines Trading Down 0.5 %

Shares of Delta Air Lines stock traded down $0.22 during trading hours on Monday, reaching $40.66. 2,926,931 shares of the company's stock were exchanged, compared to its average volume of 9,265,352. The firm has a market capitalization of $26.29 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98. The company has a fifty day moving average of $52.37 and a 200-day moving average of $57.73.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.38). The business 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 business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. Sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were issued a $0.15 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.48%. Delta Air Lines's dividend payout ratio (DPR) is presently 11.26%.

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.