Royal London Asset Management Ltd. decreased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 21.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,829,244 shares of the transportation company's stock after selling 1,344,882 shares during the quarter. Royal London Asset Management Ltd. owned 0.75% of Delta Air Lines worth $245,277,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Pzena Investment Management LLC purchased a new position in Delta Air Lines in the third quarter valued at about $281,206,000. Castle Hook Partners LP acquired a new stake in shares of Delta Air Lines during the 3rd quarter valued at about $189,296,000. Jupiter Asset Management Ltd. acquired a new position in Delta Air Lines in the second quarter worth approximately $60,217,000. Dimensional Fund Advisors LP increased its holdings in Delta Air Lines by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company's stock worth $471,330,000 after buying an additional 1,105,674 shares during the last quarter. Finally, Sanders Capital LLC raised its position in Delta Air Lines by 2.8% during the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company's stock valued at $1,414,074,000 after acquiring an additional 749,099 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.
Insider Buying and Selling at Delta Air Lines
In other news, CEO Edward H. Bastian sold 68,000 shares of the 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 completion of the sale, the chief executive officer now owns 439,819 shares of the company's stock, valued at $24,775,004.27. This represents a 13.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William C. Carroll sold 21,530 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the sale, the senior vice president now owns 19,756 shares of the company's stock, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by insiders.
Delta Air Lines Price Performance
DAL stock traded up $2.85 during trading on Thursday, hitting $67.11. The company had a trading volume of 3,942,938 shares, compared to its average volume of 9,248,170. The company has a market cap of $43.30 billion, a P/E ratio of 8.93, a P/E/G ratio of 1.19 and a beta of 1.35. The company has a fifty day moving average price of $57.68 and a two-hundred day moving average price of $49.74. Delta Air Lines, Inc. has a fifty-two week low of $36.34 and a fifty-two week high of $67.35. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05.
Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate 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 business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.
Delta Air Lines Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.89%. Delta Air Lines's dividend payout ratio is currently 8.33%.
Wall Street Analysts Forecast Growth
DAL has been the topic of several analyst reports. The Goldman Sachs Group restated a "buy" rating and set a $83.00 price target on shares of Delta Air Lines in a research note on Friday, November 15th. Sanford C. Bernstein increased their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Barclays raised their price objective on Delta Air Lines from $60.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Finally, BNP Paribas raised Delta Air Lines to a "strong-buy" rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $75.83.
Check Out Our Latest Research Report on DAL
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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