Wellington Management Group LLP reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,284,496 shares of the transportation company's stock after selling 3,561,324 shares during the period. Wellington Management Group LLP owned about 2.52% of Delta Air Lines worth $985,212,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in Delta Air Lines by 13.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 84,999 shares of the transportation company's stock valued at $5,142,000 after purchasing an additional 10,024 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Delta Air Lines by 3.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 23,738 shares of the transportation company's stock valued at $1,458,000 after buying an additional 688 shares during the period. L & S Advisors Inc bought a new position in shares of Delta Air Lines during the fourth quarter worth about $4,534,000. Intrust Bank NA lifted its stake in shares of Delta Air Lines by 6.9% in the fourth quarter. Intrust Bank NA now owns 21,073 shares of the transportation company's stock worth $1,275,000 after acquiring an additional 1,351 shares during the period. Finally, Allstate Corp bought a new stake in Delta Air Lines in the fourth quarter valued at approximately $278,000. Institutional investors and hedge funds own 69.93% of the company's stock.
Insider Activity at Delta Air Lines
In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now directly owns 52,789 shares in the company, valued at approximately $3,425,478.21. This trade represents a 41.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 91,710 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was 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 owns 439,819 shares of the company's stock, valued at approximately $30,721,357.15. The trade was a 17.25 % 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 90 days. Insiders own 0.96% of the company's stock.
Analyst Ratings Changes
DAL has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Bank of America cut their price target on shares of Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday. Raymond James lowered their price objective on Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a research report on Wednesday. StockNews.com lowered Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Finally, UBS Group lowered their target price on Delta Air Lines from $90.00 to $77.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines has an average rating of "Buy" and an average price target of $71.49.
Read Our Latest Stock Analysis on Delta Air Lines
Delta Air Lines Stock Down 10.8 %
NYSE DAL traded down $4.68 during mid-day trading on Thursday, hitting $38.70. The company's stock had a trading volume of 18,098,701 shares, compared to its average volume of 9,118,982. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The company's 50 day simple moving average is $57.49 and its 200 day simple moving average is $58.26. Delta Air Lines, Inc. has a twelve month low of $37.29 and a twelve month high of $69.98. The firm has a market capitalization of $25.02 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 0.75 and a beta of 1.34.
Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping the consensus estimate 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 company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.
Delta Air Lines Dividend Announcement
The business 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 1.55%. Delta Air Lines's dividend payout ratio is presently 11.26%.
Delta Air Lines Profile
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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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