Primecap Management Co. CA Sells 472,516 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Primecap Management Co. CA reduced its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,932,007 shares of the transportation company's stock after selling 472,516 shares during the quarter. Delta Air Lines comprises about 1.0% of Primecap Management Co. CA's holdings, making the stock its 28th largest position. Primecap Management Co. CA owned approximately 3.40% of Delta Air Lines worth $1,326,886,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. KBC Group NV boosted its holdings in shares of Delta Air Lines by 143.7% in the third quarter. KBC Group NV now owns 56,611 shares of the transportation company's stock valued at $2,876,000 after acquiring an additional 33,378 shares in the last quarter. Donoghue Forlines LLC purchased a new stake in Delta Air Lines in the 4th quarter valued at approximately $2,036,000. New Millennium Group LLC increased its position in Delta Air Lines by 314.0% during the 3rd quarter. New Millennium Group LLC now owns 36,460 shares of the transportation company's stock worth $1,852,000 after purchasing an additional 27,654 shares during the period. Geode Capital Management LLC increased its position in Delta Air Lines by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company's stock worth $789,452,000 after purchasing an additional 416,338 shares during the period. Finally, Castle Hook Partners LP purchased a new position in shares of Delta Air Lines during the 3rd quarter worth approximately $189,296,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

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Delta Air Lines Stock Down 0.1 %

NYSE:DAL traded down $0.07 during trading hours on Friday, reaching $46.89. The company's stock had a trading volume of 17,058,560 shares, compared to its average volume of 8,796,913. Delta Air Lines, Inc. has a one year low of $37.29 and a one year high of $69.98. The business's 50-day moving average is $61.21 and its 200-day moving average is $57.99. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Delta Air Lines's revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines's dividend payout ratio is currently 11.26%.

Insiders Place Their Bets

In other news, SVP William C. Carroll sold 8,400 shares of Delta Air Lines stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the transaction, the senior vice president now owns 19,756 shares in the company, valued at $1,304,291.12. The trade was a 29.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 91,710 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DAL. UBS Group dropped their price objective on Delta Air Lines from $90.00 to $77.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. StockNews.com upgraded shares of Delta Air Lines from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Citigroup lowered their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday. TD Cowen lifted their price target on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Delta Air Lines from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $76.29.

About Delta Air Lines

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.