Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Cubic Asset Management LLC

Cubic Asset Management LLC decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,839 shares of the transportation company’s stock after selling 3,475 shares during the period. Delta Air Lines accounts for 1.2% of Cubic Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. Cubic Asset Management LLC’s holdings in Delta Air Lines were worth $4,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Perigon Wealth Management LLC raised its position in Delta Air Lines by 10.4% during the 3rd quarter. Perigon Wealth Management LLC now owns 10,329 shares of the transportation company’s stock worth $382,000 after buying an additional 969 shares during the last quarter. U S Global Investors Inc. raised its position in Delta Air Lines by 21.1% during 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 buying an additional 773,636 shares during the last quarter. Raymond James & Associates raised its position in Delta Air Lines by 4.4% during the 4th quarter. Raymond James & Associates now owns 625,025 shares of the transportation company’s stock worth $25,145,000 after buying an additional 26,364 shares during the last quarter. Royal London Asset Management Ltd. raised its position in Delta Air Lines by 17.1% during 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 buying an additional 743,882 shares during the last quarter. Finally, Cozad Asset Management Inc. raised its position in Delta Air Lines by 150.3% during the 3rd quarter. Cozad Asset Management Inc. now owns 178,080 shares of the transportation company’s stock worth $6,589,000 after buying an additional 106,940 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DAL. Bank of America upped their target price on shares of Delta Air Lines from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group began coverage on shares of Delta Air Lines in a research report on Wednesday, March 20th. They set a “buy” rating and a $59.00 target price on the stock. TheStreet upgraded shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research report on Thursday, January 4th. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley upped their target price on shares of Delta Air Lines from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $57.29.

Insider Activity

In other news, CEO Edward H. Bastian sold 71,840 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $39.20, for a total value of $2,816,128.00. Following the transaction, the chief executive officer now owns 428,768 shares of the company’s stock, valued at approximately $16,807,705.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Delta Air Lines Trading Up 0.4 %

Shares of DAL traded up $0.18 on Friday, hitting $46.06. 7,521,915 shares of the stock traded hands, compared to its average volume of 9,350,196. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $29.63 billion, a P/E ratio of 6.44, a P/E/G ratio of 0.75 and a beta of 1.43. The stock’s 50 day moving average is $42.71 and its two-hundred day moving average is $39.05. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $49.81.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Friday, January 12th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $14.22 billion for the quarter, compared to the consensus estimate of $13.55 billion. Delta Air Lines had a net margin of 7.94% and a return on equity of 46.35%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. As a group, sell-side analysts predict that Delta Air Lines, Inc. will post 6.56 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 26th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, February 23rd. Delta Air Lines’s dividend payout ratio is presently 5.59%.

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.