MetLife Investment Advisors LLC trimmed its stake in Delta Air Lines, Inc. (NYSE:DAL) by 3.6% during the first quarter, HoldingsChannel.com reports. The fund owned 195,718 shares of the transportation company’s stock after selling 7,233 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Delta Air Lines were worth $10,727,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Credit Capital Investments LLC grew its position in Delta Air Lines by 145.0% in the fourth quarter. Credit Capital Investments LLC now owns 14,700 shares of the transportation company’s stock valued at $823,000 after acquiring an additional 8,700 shares during the period. Pinnacle Associates Ltd. grew its position in Delta Air Lines by 9.4% in the first quarter. Pinnacle Associates Ltd. now owns 249,647 shares of the transportation company’s stock valued at $13,683,000 after acquiring an additional 21,430 shares during the period. Chemical Bank grew its position in Delta Air Lines by 11.9% in the fourth quarter. Chemical Bank now owns 22,661 shares of the transportation company’s stock valued at $1,269,000 after acquiring an additional 2,415 shares during the period. Geode Capital Management LLC grew its position in Delta Air Lines by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 6,454,092 shares of the transportation company’s stock valued at $360,748,000 after acquiring an additional 201,722 shares during the period. Finally, Clinton Group Inc. bought a new stake in Delta Air Lines in the first quarter valued at $592,000. Hedge funds and other institutional investors own 86.41% of the company’s stock.
Shares of Delta Air Lines opened at $54.55 on Wednesday, according to MarketBeat. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.51. Delta Air Lines, Inc. has a 12-month low of $44.59 and a 12-month high of $60.79. The firm has a market cap of $38.50 billion, a PE ratio of 11.06 and a beta of 1.09.
The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 11th were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, May 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.75%.
In other news, CEO Edward H. Bastian sold 25,000 shares of the company’s stock in a transaction on Friday, April 20th. The stock was sold at an average price of $55.34, for a total transaction of $1,383,500.00. Following the transaction, the chief executive officer now owns 301,943 shares of the company’s stock, valued at $16,709,525.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO W Gilbert West sold 17,250 shares of the company’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $55.00, for a total value of $948,750.00. Following the transaction, the chief operating officer now directly owns 119,447 shares in the company, valued at approximately $6,569,585. The disclosure for this sale can be found here. Insiders have sold 64,497 shares of company stock worth $3,543,174 in the last ninety days. 0.33% of the stock is currently owned by insiders.
DAL has been the topic of a number of analyst reports. Stephens set a $71.00 price target on Delta Air Lines and gave the company a “buy” rating in a research report on Thursday, March 29th. ValuEngine cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Imperial Capital decreased their target price on Delta Air Lines from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Saturday. Morgan Stanley decreased their target price on Delta Air Lines from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, April 12th. Finally, Citigroup decreased their target price on Delta Air Lines from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, June 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $68.60.
Delta Air Lines Company Profile
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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