Jennison Associates LLC Sells 1,146,098 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Jennison Associates LLC decreased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 56.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 886,779 shares of the transportation company's stock after selling 1,146,098 shares during the period. Jennison Associates LLC owned approximately 0.14% of Delta Air Lines worth $45,040,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. increased its holdings in Delta Air Lines by 5.0% during the first quarter. Bessemer Group Inc. now owns 24,373 shares of the transportation company's stock worth $1,166,000 after buying an additional 1,156 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in Delta Air Lines in the first quarter valued at approximately $227,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Delta Air Lines by 1.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 178,851 shares of the transportation company's stock valued at $8,564,000 after buying an additional 2,907 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Delta Air Lines by 8.5% during the 1st quarter. Advisors Asset Management Inc. now owns 29,348 shares of the transportation company's stock worth $1,405,000 after acquiring an additional 2,311 shares during the period. Finally, Toronto Dominion Bank increased its holdings in shares of Delta Air Lines by 7.7% during the 1st quarter. Toronto Dominion Bank now owns 318,388 shares of the transportation company's stock worth $15,241,000 after acquiring an additional 22,799 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Stock Down 0.1 %

Shares of NYSE:DAL traded down $0.08 during trading on Friday, reaching $63.26. 3,099,893 shares of the stock were exchanged, compared to its average volume of 9,369,858. The firm has a market cap of $40.82 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. Delta Air Lines, Inc. has a 1-year low of $35.46 and a 1-year high of $66.25. The stock has a fifty day moving average of $54.65 and a two-hundred day moving average of $49.08.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion during the quarter, compared to analysts' expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 EPS. Research analysts anticipate that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines's dividend payout ratio is currently 8.33%.

Insider Transactions at Delta Air Lines

In related news, EVP Allison C. Ausband sold 7,510 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the sale, the executive vice president now directly owns 58,897 shares in the company, valued at approximately $3,688,130.14. The trade was a 11.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of the firm's stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the transaction, the executive vice president now owns 121,961 shares of the company's stock, valued at approximately $6,739,564.86. This represents a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock worth $8,044,893 in the last quarter. Insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DAL. The Goldman Sachs Group restated a "buy" rating and set a $83.00 target price on shares of Delta Air Lines in a research note on Friday, November 15th. JPMorgan Chase & Co. upped their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. TD Cowen boosted their price target on Delta Air Lines from $59.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. BNP Paribas upgraded shares of Delta Air Lines to a "strong-buy" rating in a research note on Thursday, September 19th. Finally, Jefferies Financial Group upped their price target on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Delta Air Lines presently has a consensus rating of "Buy" and a consensus price target of $72.75.

Delta Air Lines Company 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.