Los Angeles Capital Management LLC Sells 953,094 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Los Angeles Capital Management LLC lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 95.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,062 shares of the transportation company’s stock after selling 953,094 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Delta Air Lines were worth $1,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in Delta Air Lines by 1,302.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,318 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 1,224 shares during the period. Raymond James & Associates lifted its stake in shares of Delta Air Lines by 7.3% during the 3rd quarter. Raymond James & Associates now owns 598,661 shares of the transportation company’s stock worth $22,150,000 after buying an additional 40,494 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Delta Air Lines by 92.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,325 shares of the transportation company’s stock worth $5,340,000 after buying an additional 69,419 shares during the period. Mackenzie Financial Corp grew its stake in Delta Air Lines by 18.4% in the 3rd quarter. Mackenzie Financial Corp now owns 352,927 shares of the transportation company’s stock valued at $12,437,000 after buying an additional 54,878 shares during the last quarter. Finally, Strs Ohio raised its holdings in Delta Air Lines by 22.0% in the 3rd quarter. Strs Ohio now owns 261,185 shares of the transportation company’s stock valued at $9,663,000 after acquiring an additional 47,179 shares during the period. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Down 1.4 %

Shares of DAL stock opened at $52.20 on Wednesday. The stock’s fifty day simple moving average is $46.41 and its 200 day simple moving average is $41.09. Delta Air Lines, Inc. has a twelve month low of $30.60 and a twelve month high of $53.00. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $33.41 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.76 and a beta of 1.38.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The business had revenue of $13.75 billion during the quarter, compared to analyst estimates of $12.51 billion. During the same period last year, the company earned $0.25 EPS. Delta Air Lines’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Delta Air Lines, Inc. will post 6.61 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Monday, May 13th. Delta Air Lines’s dividend payout ratio is presently 5.14%.

Insiders Place Their Bets

In related news, Director Willie Cw Chiang acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $49.50 per share, with a total value of $495,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $495,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Peter W. Carter sold 50,000 shares of Delta Air Lines stock in a transaction on Monday, April 29th. The shares were sold at an average price of $50.00, for a total value of $2,500,000.00. Following the completion of the sale, the executive vice president now owns 143,328 shares of the company’s stock, valued at approximately $7,166,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Willie Cw Chiang acquired 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $49.50 per share, for a total transaction of $495,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $495,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 174,073 shares of company stock worth $8,581,207. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on DAL. Deutsche Bank Aktiengesellschaft upped their target price on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Delta Air Lines in a report on Thursday, April 11th. Susquehanna lifted their target price on Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a report on Tuesday, April 9th. UBS Group began coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They issued a “buy” rating and a $59.00 price target on the stock. Finally, StockNews.com cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Delta Air Lines presently has an average rating of “Buy” and an average price target of $58.29.

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.