Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 77.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,622 shares of the transportation company’s stock after selling 358,385 shares during the period. Canada Pension Plan Investment Board’s holdings in Delta Air Lines were worth $4,821,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in Delta Air Lines by 94.3% during the fourth quarter. Assetmark Inc. now owns 1,397 shares of the transportation company’s stock worth $56,000 after purchasing an additional 678 shares in the last quarter. Commerce Bank grew its position in Delta Air Lines by 34.8% in the fourth quarter. Commerce Bank now owns 28,787 shares of the transportation company’s stock worth $1,158,000 after acquiring an additional 7,434 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Delta Air Lines by 206.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 23,620 shares of the transportation company’s stock worth $983,000 after purchasing an additional 15,902 shares during the last quarter. TD Asset Management Inc increased its position in shares of Delta Air Lines by 1.6% during the fourth quarter. TD Asset Management Inc now owns 192,552 shares of the transportation company’s stock valued at $7,746,000 after acquiring an additional 3,059 shares during the last quarter. Finally, Portfolio Design Labs LLC acquired a new stake in Delta Air Lines in the 4th quarter valued at approximately $313,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DAL. TD Cowen cut their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Sanford C. Bernstein decreased their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group dropped their price objective on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Citigroup boosted their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $61.52.

Insider Activity at Delta Air Lines

In other news, Director Willie Cw Chiang acquired 10,000 shares of the stock in a transaction on Friday, July 12th. The stock was bought at an average price of $43.90 per share, with a total value of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL opened at $48.75 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. Delta Air Lines, Inc. has a 1-year low of $30.60 and a 1-year high of $53.86. The firm has a market capitalization of $31.46 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.90 and a beta of 1.34. The business’s 50-day simple moving average is $42.48 and its 200-day simple moving average is $46.39.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.45 billion. During the same period in the previous year, the company earned $2.68 EPS. Delta Air Lines’s revenue was up 5.4% on a year-over-year basis. Equities analysts predict that Delta Air Lines, Inc. will post 6.18 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

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.