Zurcher Kantonalbank Zurich Cantonalbank Sells 95,824 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 66.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,501 shares of the transportation company’s stock after selling 95,824 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Delta Air Lines were worth $1,951,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of DAL. Invesco Ltd. raised its stake in Delta Air Lines by 27.0% in the 3rd quarter. Invesco Ltd. now owns 4,813,848 shares of the transportation company’s stock worth $178,112,000 after purchasing an additional 1,022,957 shares in the last quarter. Morgan Stanley raised its stake in Delta Air Lines by 8.7% in the 3rd quarter. Morgan Stanley now owns 10,839,122 shares of the transportation company’s stock worth $401,048,000 after purchasing an additional 865,746 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Delta Air Lines by 541.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 998,156 shares of the transportation company’s stock worth $36,932,000 after purchasing an additional 842,487 shares in the last quarter. U S Global Investors Inc. raised its stake in Delta Air Lines by 21.1% in the 4th quarter. U S Global Investors Inc. now owns 4,434,509 shares of the transportation company’s stock worth $178,400,000 after purchasing an additional 773,636 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in Delta Air Lines by 17.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 5,091,528 shares of the transportation company’s stock worth $188,514,000 after purchasing an additional 743,882 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

DAL stock opened at $47.94 on Thursday. The company has a 50 day simple moving average of $44.65 and a 200 day simple moving average of $40.01. The stock has a market cap of $30.94 billion, a price-to-earnings ratio of 6.16, a P/E/G ratio of 0.73 and a beta of 1.43. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $49.81. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.41 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The firm had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts anticipate that Delta Air Lines, Inc. will post 6.52 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, February 26th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, February 23rd. Delta Air Lines’s payout ratio is 5.14%.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Alain Bellemare sold 24,073 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the sale, the executive vice president now directly owns 141,451 shares of the company’s stock, valued at approximately $6,911,295.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the sale, the president now directly owns 217,584 shares of the company’s stock, valued at approximately $10,672,495.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the completion of the sale, the executive vice president now directly owns 141,451 shares in the company, valued at $6,911,295.86. The disclosure for this sale can be found here. Insiders have sold 195,913 shares of company stock valued at $8,897,335 in the last ninety days. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Susquehanna boosted their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research report on Tuesday, April 9th. Morgan Stanley restated an “overweight” rating and issued a $85.00 target price on shares of Delta Air Lines in a research report on Thursday, April 11th. TheStreet upgraded shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research report on Thursday, January 4th. Finally, Bank of America boosted their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $58.29.

Delta Air Lines 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.