Delta Air Lines, Inc. $DAL Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in Delta Air Lines, Inc. (NYSE:DAL) by 5.7% in the second quarter, Holdings Channel reports. The fund owned 20,193,832 shares of the transportation company’s stock after selling 1,213,815 shares during the quarter. Primecap Management Co. CA’s holdings in Delta Air Lines were worth $993,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Delta Air Lines by 2.3% during the second quarter. Vanguard Group Inc. now owns 74,572,577 shares of the transportation company’s stock valued at $3,667,479,000 after acquiring an additional 1,648,071 shares in the last quarter. Geode Capital Management LLC grew its stake in Delta Air Lines by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 16,757,932 shares of the transportation company’s stock valued at $822,127,000 after purchasing an additional 527,570 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Delta Air Lines during the second quarter worth approximately $386,364,000. Invesco Ltd. increased its stake in shares of Delta Air Lines by 30.2% in the first quarter. Invesco Ltd. now owns 7,242,852 shares of the transportation company’s stock worth $315,788,000 after buying an additional 1,681,464 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Delta Air Lines by 5.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,214,853 shares of the transportation company’s stock valued at $305,646,000 after acquiring an additional 299,308 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Evercore ISI increased their target price on Delta Air Lines from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. UBS Group increased their price objective on shares of Delta Air Lines from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Wolfe Research dropped their price target on Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Delta Air Lines from $63.00 to $72.00 and gave the company a “buy” rating in a report on Friday, October 10th. Finally, Rothschild & Co Redburn raised their price target on shares of Delta Air Lines from $65.00 to $72.00 in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $71.68.

Delta Air Lines Stock Up 2.4%

NYSE DAL opened at $57.12 on Wednesday. The stock has a market capitalization of $37.30 billion, a PE ratio of 8.04, a PEG ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The business has a fifty day moving average price of $58.68 and a two-hundred day moving average price of $55.11. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. Delta Air Lines had a return on equity of 23.83% and a net margin of 7.36%.The company had revenue of $8.40 billion during the quarter. Equities analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were issued a dividend of $0.1875 per share. The ex-dividend date was Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. Delta Air Lines’s payout ratio is currently 10.56%.

Insiders Place Their Bets

In other Delta Air Lines news, EVP John E. Laughter sold 23,323 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total value of $1,453,722.59. Following the transaction, the executive vice president directly owned 81,109 shares in the company, valued at $5,055,523.97. The trade was a 22.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total value of $858,112.50. Following the completion of the sale, the senior vice president directly owned 15,816 shares of the company’s stock, valued at $968,730. This represents a 46.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.96% of the company’s stock.

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 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.