Gateway Investment Advisers LLC Decreases Stake in Delta Air Lines, Inc. (NYSE:DAL)

Gateway Investment Advisers LLC cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 35.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,379 shares of the transportation company's stock after selling 8,896 shares during the period. Gateway Investment Advisers LLC's holdings in Delta Air Lines were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Delta Air Lines during the third quarter valued at approximately $25,000. Kimelman & Baird LLC purchased a new stake in Delta Air Lines during the second quarter worth $31,000. Ashton Thomas Securities LLC bought a new stake in Delta Air Lines during the 3rd quarter valued at $31,000. Modus Advisors LLC purchased a new position in shares of Delta Air Lines in the 4th quarter valued at $33,000. Finally, Versant Capital Management Inc raised its position in shares of Delta Air Lines by 829.2% in the 4th quarter. Versant Capital Management Inc now owns 604 shares of the transportation company's stock worth $37,000 after acquiring an additional 539 shares in the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

Shares of DAL stock traded down $0.37 during mid-day trading on Friday, reaching $65.81. The stock had a trading volume of 5,974,288 shares, compared to its average volume of 6,308,051. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 1-year low of $36.69 and a 1-year high of $68.99. The firm has a market cap of $42.47 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.05 and a beta of 1.35. The business's fifty day moving average is $62.86 and its 200-day moving average is $52.51.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. During the same quarter in the prior year, the company earned $1.28 EPS. Delta Air Lines's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Delta Air Lines, Inc. will post 7.35 earnings per share for the current year.

Insider Activity at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the sale, the senior vice president now owns 19,756 shares of the company's stock, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Allison C. Ausband sold 7,510 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 58,897 shares of the company's stock, valued at approximately $3,688,130.14. This trade represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,319 shares of company stock worth $6,794,748 over the last three months. Company insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

DAL has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price objective on Delta Air Lines from $62.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Susquehanna lifted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, January 7th. UBS Group reiterated a "buy" rating and set a $88.00 price objective on shares of Delta Air Lines in a research note on Tuesday, November 26th. Barclays raised their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. upped their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Delta Air Lines presently has a consensus rating of "Buy" and an average price target of $78.22.

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.