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% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,932,007 shares of the transportation company’s stock after selling 472,516 shares during the quarter. Delta Air Lines comprises 1.0% of Primecap Management Co. CA’s portfolio, making the stock its 28th biggest position. Primecap Management Co. CA owned about 3.40% of Delta Air Lines worth $1,326,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DAL. Pzena Investment Management LLC acquired a new stake in shares of 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 in the third quarter valued at about $189,296,000. Raymond James Financial Inc. acquired a new stake in shares of Delta Air Lines in the fourth quarter valued at about $64,577,000. Sanders Capital LLC grew its stake 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 buying an additional 749,099 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Delta Air Lines by 325.7% in the fourth quarter. Retirement Systems of Alabama now owns 592,808 shares of the transportation company’s stock valued at $35,865,000 after buying an additional 453,547 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Delta Air Lines

In related news, SVP William C. Carroll sold 6,783 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.94, for a total value of $447,271.02. Following the sale, the senior vice president now directly owns 10,016 shares in the company, valued at $660,455.04. This trade represents a 40.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 owns 52,789 shares in the company, valued at approximately $3,425,478.21. This represents a 41.87 % decrease in their ownership of the stock. 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. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DAL has been the subject of a number of recent research reports. Susquehanna increased their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Barclays reduced their price target on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Citigroup increased their price target on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. TD Cowen increased their price target on Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, UBS Group reduced 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, March 11th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $76.60.

Delta Air Lines Trading Up 0.3 %

NYSE:DAL opened at $46.88 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $62.08 and its two-hundred day moving average is $58.12. The company has a market cap of $30.30 billion, a PE ratio of 8.79, a P/E/G ratio of 0.75 and a beta of 1.34. Delta Air Lines, Inc. has a 52 week low of $37.29 and a 52 week high of $69.98.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. The business had revenue of $15.56 billion for 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. On average, analysts predict that Delta Air Lines, Inc. will post 7.63 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. Investors of record on Thursday, February 27th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, February 27th. Delta Air Lines’s dividend payout ratio is currently 11.26%.

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.