Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.1% in the third quarter, Holdings Channel reports. The firm owned 22,404,523 shares of the transportation company’s stock after selling 29,700 shares during the period. Primecap Management Co. CA’s holdings in Delta Air Lines were worth $1,137,926,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DAL. Pzena Investment Management LLC purchased a new position in Delta Air Lines in the 3rd quarter worth approximately $281,206,000. Jupiter Asset Management Ltd. purchased a new position in Delta Air Lines in the 2nd quarter worth approximately $60,217,000. Dimensional Fund Advisors LP boosted its holdings in Delta Air Lines by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after acquiring an additional 1,105,674 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Delta Air Lines by 419.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock worth $28,551,000 after acquiring an additional 453,926 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Delta Air Lines by 159.8% in the 2nd quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock worth $27,915,000 after acquiring an additional 361,942 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

Shares of NYSE:DAL opened at $63.64 on Thursday. The business’s fifty day moving average price is $54.27 and its two-hundred day moving average price is $48.98. Delta Air Lines, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $66.25. The stock has a market capitalization of $41.07 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 EPS. As a group, analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DAL shares. Sanford C. Bernstein increased their target price on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. The Goldman Sachs Group reiterated a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their price objective 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. Finally, TD Cowen raised their price objective on Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and an average price target of $71.22.

Insider Activity

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock valued at $8,044,893 over the last 90 days. 0.96% of the stock is owned by company insiders.

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.