Pzena Investment Management LLC Decreases Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Pzena Investment Management LLC cut its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,932,270 shares of the transportation company's stock after selling 604,370 shares during the period. Pzena Investment Management LLC owned about 0.76% of Delta Air Lines worth $298,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DAL. Independent Advisor Alliance raised its position in Delta Air Lines by 38.8% in the 4th quarter. Independent Advisor Alliance now owns 53,662 shares of the transportation company's stock valued at $3,247,000 after purchasing an additional 15,009 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in Delta Air Lines by 165.9% in the fourth quarter. Johnson Investment Counsel Inc. now owns 10,682 shares of the transportation company's stock valued at $646,000 after acquiring an additional 6,664 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Delta Air Lines by 13.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 46,849 shares of the transportation company's stock worth $2,834,000 after acquiring an additional 5,451 shares during the last quarter. Moran Wealth Management LLC acquired a new position in Delta Air Lines during the 4th quarter worth approximately $5,053,000. Finally, Sowell Financial Services LLC increased its position in shares of Delta Air Lines by 13.2% in the 4th quarter. Sowell Financial Services LLC now owns 40,898 shares of the transportation company's stock valued at $2,474,000 after purchasing an additional 4,774 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Rahul D. Samant sold 17,970 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total transaction of $1,241,367.60. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William C. Carroll sold 8,400 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the transaction, the senior vice president now owns 19,756 shares of the company's stock, valued at $1,304,291.12. This represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock worth $11,116,463 in the last three months. Insiders own 0.96% of the company's stock.

Delta Air Lines Stock Performance

NYSE DAL traded down $1.48 during trading on Thursday, reaching $43.83. The company's stock had a trading volume of 16,222,276 shares, compared to its average volume of 8,690,943. The business's fifty day moving average price is $62.58 and its 200-day moving average price is $57.80. Delta Air Lines, Inc. has a twelve month low of $37.29 and a twelve month high of $69.98. 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 has a market cap of $28.33 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 0.75 and a beta of 1.34.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $14.20 billion. During the same quarter in the previous 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 business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, February 27th. Delta Air Lines's dividend payout ratio is presently 11.26%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DAL shares. Citigroup lifted their price objective on shares of Delta Air Lines from $65.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. UBS Group decreased their price target on Delta Air Lines from $90.00 to $77.00 and set a "buy" rating for the company in a report on Tuesday. TD Cowen increased their price objective on Delta Air Lines from $78.00 to $90.00 and gave the company a "buy" rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Finally, Barclays cut their price objective on shares of Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Delta Air Lines has an average rating of "Buy" and an average target price of $76.60.

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.