Cim Investment Mangement Inc. cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,397 shares of the transportation company’s stock after selling 463 shares during the period. Cim Investment Mangement Inc.’s holdings in Delta Air Lines were worth $519,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Delta Air Lines by 3.6% during the third quarter. BlackRock Inc. now owns 36,958,163 shares of the transportation company’s stock valued at $2,137,290,000 after acquiring an additional 1,297,215 shares during the last quarter. Primecap Management Co. CA grew its holdings in Delta Air Lines by 1.2% in the third quarter. Primecap Management Co. CA now owns 28,555,011 shares of the transportation company’s stock worth $1,651,336,000 after purchasing an additional 347,641 shares during the period. Neuberger Berman Group LLC grew its holdings in Delta Air Lines by 1.0% in the third quarter. Neuberger Berman Group LLC now owns 6,867,623 shares of the transportation company’s stock worth $397,155,000 after purchasing an additional 69,137 shares during the period. Alliancebernstein L.P. grew its holdings in Delta Air Lines by 5.1% in the third quarter. Alliancebernstein L.P. now owns 5,515,560 shares of the transportation company’s stock worth $318,965,000 after purchasing an additional 267,454 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Delta Air Lines by 19.9% in the third quarter. Morgan Stanley now owns 5,237,434 shares of the transportation company’s stock worth $302,881,000 after buying an additional 869,794 shares in the last quarter. 89.33% of the stock is owned by institutional investors and hedge funds.
NYSE DAL opened at $50.47 on Monday. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 1.03. The stock has a market cap of $34.60 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 0.58 and a beta of 1.11. Delta Air Lines, Inc. has a one year low of $45.08 and a one year high of $61.32.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Tuesday, January 15th. The transportation company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The business had revenue of $10.74 billion for the quarter, compared to the consensus estimate of $10.71 billion. Delta Air Lines had a net margin of 8.78% and a return on equity of 29.43%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. On average, equities research analysts expect that Delta Air Lines, Inc. will post 6.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 1st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, February 28th. Delta Air Lines’s payout ratio is currently 24.78%.
In related news, Director George N. Mattson bought 4,000 shares of the company’s stock in a transaction on Thursday, December 20th. The shares were bought at an average price of $50.91 per share, with a total value of $203,640.00. Following the transaction, the director now owns 72,530 shares in the company, valued at $3,692,502.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward H. Bastian sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $50.00, for a total transaction of $3,000,000.00. Following the sale, the chief executive officer now directly owns 326,943 shares in the company, valued at approximately $16,347,150. The disclosure for this sale can be found here. In the last ninety days, insiders bought 13,185 shares of company stock worth $664,881. Insiders own 0.33% of the company’s stock.
Several research analysts have recently issued reports on DAL shares. Credit Suisse Group reiterated a “buy” rating and issued a $71.00 target price on shares of Delta Air Lines in a research note on Monday, December 17th. Zacks Investment Research upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Monday, December 17th. Citigroup increased their price objective on shares of Delta Air Lines from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 29th. Deutsche Bank upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and increased their price target for the stock from $53.00 to $60.00 in a research report on Wednesday, October 17th. Finally, Stephens reiterated a “buy” rating on shares of Delta Air Lines in a research report on Sunday, January 6th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $67.22.
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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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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