Norges Bank bought a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,518,046 shares of the transportation company's stock, valued at approximately $152,342,000. Norges Bank owned approximately 0.39% of Delta Air Lines at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DAL. Vanguard Group Inc. increased its holdings in shares of Delta Air Lines by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 72,410,242 shares of the transportation company's stock valued at $4,380,820,000 after acquiring an additional 456,465 shares in the last quarter. Geode Capital Management LLC increased its stake in Delta Air Lines by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company's stock valued at $789,452,000 after purchasing an additional 416,338 shares in the last quarter. Boston Partners purchased a new position in shares of Delta Air Lines in the fourth quarter worth $328,398,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Delta Air Lines by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,597,589 shares of the transportation company's stock worth $217,654,000 after buying an additional 100,102 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Delta Air Lines by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 3,544,750 shares of the transportation company's stock valued at $214,457,000 after buying an additional 274,067 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on DAL. Barclays reduced their target price on Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. TD Cowen lifted their target price on Delta Air Lines from $78.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Raymond James cut their price target on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating on the stock in a report on Wednesday. Susquehanna lifted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a report on Tuesday. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $71.49.
Check Out Our Latest Analysis on Delta Air Lines
Delta Air Lines Price Performance
NYSE DAL traded down $4.68 during trading hours on Thursday, reaching $38.70. The company's stock had a trading volume of 18,095,761 shares, compared to its average volume of 10,481,893. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98. The company's 50-day moving average is $57.49 and its two-hundred day moving average is $58.26. The firm has a market capitalization of $25.02 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 0.75 and a beta of 1.34.
Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (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 firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same quarter last year, the firm posted $1.28 EPS. The business's revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.
Delta Air Lines Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.15 per share. 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 currently 11.26%.
Insider Buying and Selling
In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 52,789 shares in the company, valued at approximately $3,425,478.21. The trade was a 41.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William C. Carroll sold 6,783 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total value of $447,271.02. Following the completion of the transaction, the senior vice president now owns 10,016 shares in the company, valued at approximately $660,455.04. This trade represents a 40.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,886 shares of company stock worth $11,116,463 in the last 90 days. Insiders own 0.96% of the company's stock.
About Delta Air Lines
(
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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