Korea Investment CORP Sells 37,491 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Korea Investment CORP lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 31.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,486 shares of the transportation company’s stock after selling 37,491 shares during the period. Korea Investment CORP’s holdings in Delta Air Lines were worth $4,990,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new stake in shares of Delta Air Lines in the 4th quarter worth about $27,000. Hemington Wealth Management grew its position in Delta Air Lines by 48.1% in the fourth quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock worth $28,000 after acquiring an additional 154 shares in the last quarter. Roxbury Financial LLC bought a new stake in Delta Air Lines during the fourth quarter worth approximately $29,000. Crews Bank & Trust bought a new stake in Delta Air Lines during the fourth quarter worth approximately $30,000. Finally, Modus Advisors LLC purchased a new stake in Delta Air Lines during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In other Delta Air Lines news, SVP William C. Carroll sold 8,400 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 19,756 shares in the company, valued at $1,304,291.12. This represents a 29.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rahul D. Samant sold 17,970 shares of Delta Air Lines stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total value of $1,241,367.60. Following the completion of the transaction, the executive vice president now owns 35,889 shares in the company, valued at $2,479,212.12. This represents a 33.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,886 shares of company stock worth $11,116,463. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

DAL has been the topic of several analyst reports. Citigroup cut their target price on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. UBS Group cut their price objective on shares of Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Barclays cut their price target on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Finally, TD Cowen raised their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $76.29.

Delta Air Lines Trading Down 0.5 %

DAL opened at $43.62 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 stock’s fifty day moving average is $58.50 and its two-hundred day moving average is $58.38. The company has a market capitalization of $28.20 billion, a P/E ratio of 8.18, a PEG 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 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were given a $0.15 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. Delta Air Lines’s payout ratio is presently 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.