Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 21,932,007 shares of the transportation company’s stock after selling 472,516 shares during the period. Delta Air Lines comprises 1.0% of Primecap Management Co. CA’s investment portfolio, making the stock its 28th largest position. Primecap Management Co. CA’s holdings in Delta Air Lines were worth $1,326,886,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DAL. Axxcess Wealth Management LLC boosted its stake in shares of Delta Air Lines by 5.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 9,639 shares of the transportation company’s stock worth $583,000 after acquiring an additional 500 shares in the last quarter. TCTC Holdings LLC boosted its stake in shares of Delta Air Lines by 154.8% during the 4th quarter. TCTC Holdings LLC now owns 1,274 shares of the transportation company’s stock worth $77,000 after acquiring an additional 774 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Delta Air Lines by 12.1% during the 4th quarter. Parallel Advisors LLC now owns 10,511 shares of the transportation company’s stock worth $636,000 after acquiring an additional 1,134 shares in the last quarter. Cibc World Markets Corp boosted its stake in shares of Delta Air Lines by 34.5% during the 4th quarter. Cibc World Markets Corp now owns 79,449 shares of the transportation company’s stock worth $4,807,000 after acquiring an additional 20,371 shares in the last quarter. Finally, GLOBALT Investments LLC GA bought a new stake in shares of Delta Air Lines during the 4th quarter worth $718,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Delta Air Lines news, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $30,721,357.15. The trade was a 17.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total value of $2,467,312.47. Following the completion of the sale, the executive vice president now directly owns 52,789 shares of the company’s stock, valued at $3,425,478.21. This represents a 41.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,886 shares of company stock valued at $11,116,463 over the last quarter. Insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

DAL opened at $46.88 on Tuesday. The stock has a market cap of $30.30 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 0.75 and a beta of 1.34. Delta Air Lines, Inc. has a 1 year low of $37.29 and a 1 year high of $69.98. 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 stock has a fifty day moving average price of $62.08 and a 200 day moving average price of $58.12.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data 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. The firm had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. Analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. Delta Air Lines’s dividend payout ratio is currently 11.26%.

Analyst Ratings Changes

DAL has been the subject of several research reports. UBS Group reduced their price objective on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. TD Cowen raised their price objective on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. StockNews.com raised Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Susquehanna raised their target price on Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday, January 7th. Finally, Citigroup raised their target price on Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $76.60.

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.