Intech Investment Management LLC Has $4.89 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

Intech Investment Management LLC cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,771 shares of the transportation company's stock after selling 20,211 shares during the quarter. Intech Investment Management LLC's holdings in Delta Air Lines were worth $4,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new position in Delta Air Lines in the 4th quarter worth about $27,000. Hemington Wealth Management increased its position in shares of Delta Air Lines by 48.1% in the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock worth $28,000 after acquiring an additional 154 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Delta Air Lines during the fourth quarter valued at approximately $29,000. Crews Bank & Trust purchased a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $30,000. Finally, Modus Advisors LLC acquired a new position in Delta Air Lines in the 4th quarter worth approximately $33,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Stock Down 0.1 %

Delta Air Lines stock traded down $0.07 during mid-day trading on Friday, hitting $46.89. 17,058,560 shares of the company's stock were exchanged, compared to its average volume of 8,795,711. 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 stock has a market cap of $30.31 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.75 and a beta of 1.34. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98. The stock has a 50 day moving average of $60.80 and a two-hundred day moving average of $58.13.

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Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. 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 prior year, the firm posted $1.28 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

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

Insider Activity

In other news, CEO Edward H. Bastian sold 91,710 shares of the firm's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the sale, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rahul D. Samant sold 17,970 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $69.08, for a total transaction of $1,241,367.60. Following the completion of the sale, the executive vice president now owns 35,889 shares in the company, valued at approximately $2,479,212.12. The trade was a 33.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DAL. StockNews.com upgraded Delta Air Lines from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Citigroup reduced their price objective on Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Susquehanna lifted their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, January 7th. TD Cowen upped their target price on Delta Air Lines from $78.00 to $90.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Barclays dropped their target price on Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines has a consensus rating of "Buy" and an average target price of $76.29.

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.