Legal & General Group Plc Sells 339,492 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Legal & General Group Plc trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 20.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,289,639 shares of the transportation company's stock after selling 339,492 shares during the period. Legal & General Group Plc owned 0.20% of Delta Air Lines worth $78,023,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on DAL. Dbs Bank cut Delta Air Lines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. StockNews.com cut Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Jefferies Financial Group reaffirmed a "hold" rating and set a $46.00 target price (down previously from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. Barclays decreased their price target on shares of Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group lowered shares of Delta Air Lines from a "buy" rating to a "neutral" rating and cut their price objective for the company from $77.00 to $42.00 in a research report on Monday, April 7th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.06.

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Delta Air Lines Price Performance

Shares of NYSE:DAL traded down $0.59 on Monday, hitting $40.29. The stock had a trading volume of 12,488,380 shares, compared to its average volume of 9,301,440. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The firm's 50 day moving average price is $52.37 and its 200-day moving average price is $57.73. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm had revenue of $12.98 billion during the quarter, compared to analyst estimates of $13.85 billion. During the same quarter last year, the firm earned $0.45 earnings per share. Delta Air Lines's quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Thursday, February 27th. Delta Air Lines's dividend payout ratio is currently 10.64%.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, SVP William C. Carroll sold 8,400 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $66.02, for a total value of $554,568.00. Following the completion of the transaction, the senior vice president now directly owns 19,756 shares of the company's stock, valued at approximately $1,304,291.12. The trade was a 29.83 % 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, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,886 shares of company stock worth $11,116,463. 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.