Principal Financial Group Inc. Acquires 19,124 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Principal Financial Group Inc. increased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 742,773 shares of the transportation company's stock after buying an additional 19,124 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Delta Air Lines worth $37,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Delta Air Lines during the third quarter valued at approximately $25,000. Kimelman & Baird LLC purchased a new position in shares of Delta Air Lines during the second quarter worth about $31,000. Strategic Financial Concepts LLC purchased a new position in shares of Delta Air Lines during the second quarter worth about $36,000. Unique Wealth Strategies LLC purchased a new position in shares of Delta Air Lines during the second quarter worth about $40,000. Finally, Quarry LP purchased a new position in shares of Delta Air Lines during the second quarter worth about $41,000. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Trading Up 0.0 %

DAL stock traded up $0.01 during midday trading on Tuesday, reaching $63.57. The stock had a trading volume of 4,088,860 shares, compared to its average volume of 9,398,938. The firm has a market cap of $41.02 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 1.15 and a beta of 1.33. Delta Air Lines, Inc. has a twelve month low of $33.69 and a twelve month high of $64.11. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $51.29 and a two-hundred day simple moving average of $48.30.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. As a group, research analysts expect that Delta Air Lines, Inc. will post 6.12 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines's dividend payout ratio is currently 8.33%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DAL. Susquehanna lifted their price target on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a "positive" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Delta Air Lines from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. TD Cowen increased their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday. BNP Paribas upgraded shares of Delta Air Lines to a "strong-buy" rating in a research note on Thursday, September 19th. Finally, Barclays raised their target price on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $67.73.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now owns 108,990 shares of the company's stock, valued at $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Joanne D. Smith sold 3,431 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allison C. Ausband sold 7,510 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the transaction, the executive vice president now directly owns 58,897 shares of the company's stock, valued at approximately $3,688,130.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,710 shares of company stock valued at $6,739,745 in the last ninety days. Company insiders own 0.96% of the company's stock.

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.