First Citizens Bank & Trust Co. Sells 3,753 Shares of Delta Air Lines, Inc. (NYSE:DAL)

First Citizens Bank & Trust Co. lessened its position in shares of Delta Air Lines, Inc. (NYSE:DALFree Report) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,990 shares of the transportation company’s stock after selling 3,753 shares during the period. First Citizens Bank & Trust Co.’s holdings in Delta Air Lines were worth $1,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in Delta Air Lines by 10.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,817 shares of the transportation company’s stock worth $134,000 after acquiring an additional 258 shares during the period. Forum Financial Management LP increased its holdings in shares of Delta Air Lines by 3.5% in the 1st quarter. Forum Financial Management LP now owns 8,675 shares of the transportation company’s stock worth $343,000 after buying an additional 292 shares during the last quarter. Navalign LLC increased its holdings in shares of Delta Air Lines by 1.7% in the 4th quarter. Navalign LLC now owns 17,402 shares of the transportation company’s stock worth $700,000 after buying an additional 293 shares during the last quarter. Utah Retirement Systems increased its holdings in shares of Delta Air Lines by 0.6% in the 4th quarter. Utah Retirement Systems now owns 54,325 shares of the transportation company’s stock worth $1,785,000 after buying an additional 300 shares during the last quarter. Finally, Summit X LLC increased its holdings in shares of Delta Air Lines by 1.1% in the 3rd quarter. Summit X LLC now owns 28,205 shares of the transportation company’s stock worth $1,044,000 after buying an additional 307 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Insider Activity

In other news, CEO Edward H. Bastian sold 71,840 shares of Delta Air Lines stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $39.20, for a total transaction of $2,816,128.00. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

DAL has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on shares of Delta Air Lines from $77.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday. TheStreet raised shares of Delta Air Lines from a “c+” rating to a “b-” rating in a report on Thursday, January 4th. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, UBS Group assumed coverage on shares of Delta Air Lines in a report on Wednesday, March 20th. They set a “buy” rating and a $59.00 target price on the stock. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $56.36.

View Our Latest Analysis on Delta Air Lines

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $46.91 on Wednesday. The firm has a market cap of $30.18 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 0.78 and a beta of 1.43. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $49.81. 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 company’s fifty day simple moving average is $42.12 and its two-hundred day simple moving average is $38.85.

Delta Air Lines (NYSE:DALGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $14.22 billion for the quarter, compared to analyst estimates 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 revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 EPS. As a group, equities analysts expect that Delta Air Lines, Inc. will post 6.55 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 26th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, February 23rd. Delta Air Lines’s payout ratio is 5.59%.

About Delta Air Lines

(Free Report)

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.

Read More

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DALFree Report).

Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.