Pzena Investment Management LLC Grows Position in Delta Air Lines, Inc. $DAL

Pzena Investment Management LLC raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,312,417 shares of the transportation company’s stock after purchasing an additional 80,805 shares during the quarter. Pzena Investment Management LLC’s holdings in Delta Air Lines were worth $212,085,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Delta Air Lines in the 2nd quarter worth about $386,364,000. Pacer Advisors Inc. boosted its holdings in Delta Air Lines by 5,224.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company’s stock valued at $189,081,000 after acquiring an additional 4,255,262 shares during the period. AQR Capital Management LLC boosted its holdings in Delta Air Lines by 149.9% during the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock valued at $246,487,000 after acquiring an additional 3,577,489 shares during the period. Ameriprise Financial Inc. boosted its holdings in Delta Air Lines by 347.4% during the 1st quarter. Ameriprise Financial Inc. now owns 4,232,974 shares of the transportation company’s stock valued at $184,909,000 after acquiring an additional 3,286,741 shares during the period. Finally, Ninety One UK Ltd boosted its holdings in Delta Air Lines by 1,469.9% during the 1st quarter. Ninety One UK Ltd now owns 3,309,020 shares of the transportation company’s stock valued at $144,273,000 after acquiring an additional 3,098,237 shares during the period. Institutional investors own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DAL. Dbs Bank upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Bernstein Bank boosted their price objective on Delta Air Lines from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, July 11th. Wall Street Zen raised Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen upped their target price on Delta Air Lines from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Finally, Barclays upped their target price on Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $70.11.

Delta Air Lines Price Performance

Shares of DAL stock opened at $57.56 on Monday. Delta Air Lines, Inc. has a twelve month low of $34.74 and a twelve month high of $69.98. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 1.48 and a beta of 1.50. The stock has a fifty day simple moving average of $58.65 and a two-hundred day simple moving average of $51.60. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The firm 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%. On average, analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines’s payout ratio is presently 10.56%.

Insider Buying and Selling

In other news, EVP Steven M. Sear sold 18,000 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total value of $1,007,280.00. Following the completion of the transaction, the executive vice president directly owned 97,505 shares of the company’s stock, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward H. Bastian sold 35,000 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $56.28, for a total value of $1,969,800.00. Following the completion of the transaction, the chief executive officer directly owned 632,823 shares of the company’s stock, valued at approximately $35,615,278.44. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,050 shares of company stock valued at $5,139,795. 0.96% of the stock is currently owned by insiders.

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.