Delta Air Lines, Inc. $DAL Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its stake in Delta Air Lines, Inc. (NYSE:DAL) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 379,420 shares of the transportation company’s stock after selling 9,509 shares during the quarter. Prudential Financial Inc. owned 0.06% of Delta Air Lines worth $18,660,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Savant Capital LLC lifted its stake in Delta Air Lines by 84.0% during the 2nd quarter. Savant Capital LLC now owns 181,995 shares of the transportation company’s stock worth $8,951,000 after acquiring an additional 83,072 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Delta Air Lines by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company’s stock worth $160,900,000 after purchasing an additional 92,772 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Delta Air Lines by 8.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 825,916 shares of the transportation company’s stock worth $40,619,000 after purchasing an additional 67,002 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Delta Air Lines during the second quarter worth about $15,138,000. Finally, Jefferies Financial Group Inc. boosted its stake in shares of Delta Air Lines by 1,169.4% in the first quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company’s stock valued at $316,000 after purchasing an additional 6,677 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Up 3.4%

Shares of Delta Air Lines stock opened at $64.29 on Thursday. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The business’s fifty day moving average is $58.71 and its two-hundred day moving average is $55.61. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. The firm has a market cap of $41.98 billion, a PE ratio of 9.06, a P/E/G ratio of 1.35 and a beta of 1.52.

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

Delta Air Lines Announces Dividend

The business 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. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, October 16th. Delta Air Lines’s dividend payout ratio is presently 10.56%.

Wall Street Analysts Forecast Growth

DAL has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Delta Air Lines in a research note on Wednesday, October 8th. Susquehanna boosted their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Wolfe Research reduced their price objective on Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, November 17th. TD Cowen lifted their target price on Delta Air Lines from $66.00 to $72.00 and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Delta Air Lines from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $71.68.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP John E. Laughter sold 23,323 shares of the stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the transaction, the executive vice president owned 81,109 shares of the company’s stock, valued at $5,055,523.97. This trade represents a 22.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of Delta Air Lines stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the transaction, the senior vice president owned 15,816 shares in the company, valued at approximately $968,730. This trade represents a 46.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is currently owned by company insiders.

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.