Gateway Investment Advisers LLC Sells 8,896 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Gateway Investment Advisers LLC reduced its stake in Delta Air Lines, Inc. (NYSE:DAL) by 35.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,379 shares of the transportation company’s stock after selling 8,896 shares during the period. Gateway Investment Advisers LLC’s holdings in Delta Air Lines were worth $991,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pzena Investment Management LLC purchased a new position in shares of Delta Air Lines in the third quarter worth $281,206,000. Castle Hook Partners LP bought a new stake in Delta Air Lines in the 3rd quarter worth $189,296,000. Sanders Capital LLC increased its position in shares of Delta Air Lines by 2.8% in 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 during the period. Janney Montgomery Scott LLC raised its stake in shares of Delta Air Lines by 419.5% during the third quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock valued at $28,551,000 after acquiring an additional 453,926 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Delta Air Lines by 2.8% during the third quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company’s stock worth $789,452,000 after purchasing an additional 416,338 shares during the period. Institutional investors own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at $1,197,608.72. The trade was a 52.15 % 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, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total value of $470,276.20. Following the sale, the executive vice president now owns 58,897 shares of the company’s stock, valued at $3,688,130.14. This represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,319 shares of company stock valued at $6,794,748 over the last three months. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 0.6 %

Delta Air Lines stock opened at $65.81 on Friday. Delta Air Lines, Inc. has a 52-week low of $36.69 and a 52-week high of $68.99. The company has a market cap of $42.47 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.05 and a beta of 1.35. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The business has a 50-day simple moving average of $62.86 and a two-hundred day simple moving average of $52.47.

Delta Air Lines (NYSE:DAL) last announced 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. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the previous year, the company posted $1.28 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Analysts predict that Delta Air Lines, Inc. will post 7.35 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com raised Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Susquehanna boosted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of Delta Air Lines in a research report on Friday, November 15th. Finally, Barclays boosted their price target on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average target price of $78.22.

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.