Delta Air Lines, Inc. (NYSE:DAL) Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC grew its stake in Delta Air Lines, Inc. (NYSE:DAL) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,298 shares of the transportation company’s stock after purchasing an additional 173 shares during the quarter. DAVENPORT & Co LLC’s holdings in Delta Air Lines were worth $865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Delta Air Lines by 5.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,264 shares of the transportation company’s stock worth $500,000 after buying an additional 422 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Delta Air Lines in the fourth quarter worth approximately $128,000. TriaGen Wealth Management LLC purchased a new stake in shares of Delta Air Lines during the fourth quarter worth approximately $423,000. Caprock Group LLC raised its stake in Delta Air Lines by 14.2% in the 4th quarter. Caprock Group LLC now owns 13,654 shares of the transportation company’s stock valued at $826,000 after purchasing an additional 1,698 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Delta Air Lines in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Down 1.7 %

Shares of NYSE:DAL opened at $67.86 on Friday. The company has a market capitalization of $43.79 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.78 and a beta of 1.36. Delta Air Lines, Inc. has a 12-month low of $37.29 and a 12-month high of $69.98. The business has a 50-day moving average price of $63.84 and a 200 day moving average price of $54.51. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.43%. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same period in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Delta Air Lines, Inc. will post 7.67 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. Delta Air Lines’s dividend payout ratio (DPR) is presently 11.26%.

Insider Buying and Selling at Delta Air Lines

In other news, CEO Edward H. Bastian sold 91,710 shares of Delta Air Lines 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 transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $66.02, for a total transaction of $554,568.00. Following the sale, the senior vice president now owns 19,756 shares in the company, valued at $1,304,291.12. The trade was a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,893 shares of company stock valued at $7,407,783 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped 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 note on Friday, October 11th. Jefferies Financial Group raised their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft upped their price target on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, TD Cowen lifted their price objective on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $78.22.

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.