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

Primecap Management Co. CA lessened its position in Delta Air Lines, Inc. (NYSE:DAL) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,193,832 shares of the transportation company’s stock after selling 1,213,815 shares during the quarter. Primecap Management Co. CA owned about 3.09% of Delta Air Lines worth $993,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DAL. Signature Resources Capital Management LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $25,000. NewSquare Capital LLC boosted its holdings in shares of Delta Air Lines by 184.6% during the 2nd quarter. NewSquare Capital LLC now owns 572 shares of the transportation company’s stock worth $28,000 after purchasing an additional 371 shares during the last quarter. Activest Wealth Management grew its position in shares of Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 593 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Delta Air Lines in the first quarter valued at approximately $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in Delta Air Lines during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In related news, SVP William C. Carroll sold 14,010 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the sale, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. This represents a 46.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John E. Laughter sold 23,323 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the transaction, the executive vice president directly owned 81,109 shares of the company’s stock, valued at approximately $5,055,523.97. This trade represents a 22.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.96% of the stock is currently owned by insiders.

Delta Air Lines Stock Up 2.4%

Shares of NYSE:DAL opened at $57.12 on Wednesday. The firm’s 50-day moving average is $58.68 and its two-hundred day moving average is $55.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $69.98. The firm has a market capitalization of $37.30 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52.

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

Delta Air Lines Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Raymond James Financial raised their target price on Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 10th. Wolfe Research decreased their price objective on Delta Air Lines from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday. Rothschild & Co Redburn raised their target price on Delta Air Lines from $65.00 to $72.00 in a research note on Tuesday, October 14th. Bank of America upped their price target on Delta Air Lines from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Dbs Bank upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines has an average rating of “Buy” and an average price target of $71.68.

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.