Primecap Management Co. CA Sells 29,700 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Primecap Management Co. CA reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,404,523 shares of the transportation company's stock after selling 29,700 shares during the quarter. Primecap Management Co. CA owned 3.47% of Delta Air Lines worth $1,137,926,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DAL. Future Financial Wealth Managment LLC purchased a new position in shares of Delta Air Lines during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Delta Air Lines during the 3rd quarter valued at about $31,000. Kimelman & Baird LLC purchased a new position in shares of Delta Air Lines during the 2nd quarter valued at about $31,000. Unique Wealth Strategies LLC purchased a new position in Delta Air Lines in the 2nd quarter worth approximately $40,000. Finally, Quarry LP purchased a new position in Delta Air Lines in the 2nd quarter worth approximately $41,000. 69.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 68,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $24,775,004.27. The trade was a 13.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the business's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DAL shares. Sanford C. Bernstein boosted their price target on Delta Air Lines from $62.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. TD Cowen boosted their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. The Goldman Sachs Group reissued a "buy" rating and issued a $83.00 target price on shares of Delta Air Lines in a report on Friday, November 15th. JPMorgan Chase & Co. increased their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Barclays lifted their price target on Delta Air Lines from $60.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Delta Air Lines presently has an average rating of "Buy" and a consensus price target of $71.22.

Delta Air Lines Trading Down 1.7 %

NYSE DAL opened at $63.64 on Thursday. Delta Air Lines, Inc. has a one year low of $35.46 and a one year high of $66.25. The firm has a 50 day simple moving average of $54.27 and a 200-day simple moving average of $48.98. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.23 and a beta of 1.33.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same period in the previous year, the business posted $2.03 EPS. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.94%. Delta Air Lines's dividend payout ratio is currently 8.33%.

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.

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