Lord Abbett & CO. LLC reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 726,901 shares of the transportation company’s stock after selling 40,590 shares during the period. Lord Abbett & CO. LLC’s holdings in Delta Air Lines were worth $36,272,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC acquired a new stake in shares of Delta Air Lines during the fourth quarter valued at about $27,000. Dubuque Bank & Trust Co. increased its position in shares of Delta Air Lines by 2,920.0% during the fourth quarter. Dubuque Bank & Trust Co. now owns 755 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 730 shares during the last quarter. JNBA Financial Advisors increased its position in shares of Delta Air Lines by 165.9% during the fourth quarter. JNBA Financial Advisors now owns 803 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 501 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Delta Air Lines during the third quarter valued at about $42,000. Finally, Athena Capital Advisors LLC acquired a new stake in shares of Delta Air Lines during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.
Shares of DAL stock opened at $50.94 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $34.59 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 0.70 and a beta of 1.08. Delta Air Lines, Inc. has a fifty-two week low of $45.08 and a fifty-two week high of $61.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 1st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, February 28th. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.78%.
A number of equities research analysts have weighed in on the stock. Vertical Research assumed coverage on shares of Delta Air Lines in a research report on Monday, February 4th. They set a “hold” rating for the company. Imperial Capital lifted their price target on shares of Delta Air Lines from $76.00 to $83.00 and gave the company an “outperform” rating in a research report on Tuesday, December 4th. Credit Suisse Group set a $67.00 price target on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Wednesday, January 16th. Citigroup assumed coverage on shares of Delta Air Lines in a research report on Wednesday, November 28th. They set a “positive” rating and a $69.00 price target for the company. Finally, Zacks Investment Research cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and an average price target of $66.60.
In related news, CEO Edward H. Bastian sold 60,000 shares of Delta Air Lines stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $50.00, for a total value of $3,000,000.00. Following the completion of the transaction, the chief executive officer now owns 326,943 shares in the company, valued at $16,347,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 2,345,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $49.37 per share, with a total value of $115,776,451.49. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 3,567,723 shares of company stock valued at $176,492,957 and sold 130,436 shares valued at $6,602,036. Insiders own 0.33% of the company’s stock.
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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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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