Pinebridge Investments L.P. Acquires Shares of 89,290 Delta Air Lines, Inc. (NYSE:DAL)

Pinebridge Investments L.P. acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 89,290 shares of the transportation company's stock, valued at approximately $5,402,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DAL. Vanguard Group Inc. boosted its stake in Delta Air Lines by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 72,410,242 shares of the transportation company's stock worth $4,380,820,000 after purchasing an additional 456,465 shares in the last quarter. Sanders Capital LLC lifted its position in Delta Air Lines by 6.9% during the 4th quarter. Sanders Capital LLC now owns 29,764,524 shares of the transportation company's stock worth $1,800,754,000 after buying an additional 1,922,932 shares in the last quarter. Geode Capital Management LLC grew its holdings in Delta Air Lines by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 15,912,584 shares of the transportation company's stock worth $968,234,000 after acquiring an additional 410,648 shares during the last quarter. Capital World Investors increased its position in Delta Air Lines by 0.3% in the 4th quarter. Capital World Investors now owns 15,180,467 shares of the transportation company's stock valued at $918,419,000 after acquiring an additional 46,101 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Delta Air Lines by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,090,209 shares of the transportation company's stock worth $670,994,000 after acquiring an additional 92,208 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP William C. Carroll sold 6,783 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.94, for a total value of $447,271.02. Following the transaction, the senior vice president now owns 10,016 shares of the company's stock, valued at approximately $660,455.04. This represents a 40.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rahul D. Samant sold 17,970 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $69.08, for a total value of $1,241,367.60. Following the transaction, the executive vice president now owns 35,889 shares in the company, valued at approximately $2,479,212.12. This trade represents a 33.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,776 shares of company stock valued at $4,155,951. Company insiders own 0.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DAL shares. The Goldman Sachs Group cut their target price on shares of Delta Air Lines from $83.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. StockNews.com cut shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Susquehanna cut their price target on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. Citigroup dropped their price objective on Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, Barclays reduced their target price on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Four research 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.06.

Delta Air Lines Stock Performance

Shares of DAL traded down $0.38 during midday trading on Friday, reaching $41.64. The stock had a trading volume of 7,190,385 shares, compared to its average volume of 9,237,816. 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 firm has a 50 day simple moving average of $47.30 and a 200-day simple moving average of $57.10. The firm has a market cap of $27.19 billion, a PE ratio of 7.81, a P/E/G ratio of 0.75 and a beta of 1.23. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). The business had revenue of $12.98 billion during the quarter, compared to analyst estimates of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The business's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, sell-side analysts anticipate 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 will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, May 13th. Delta Air Lines's dividend payout ratio is presently 10.64%.

About Delta Air Lines

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.