Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its position in Delta Air Lines, Inc. (NYSE:DAL) by 26.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,929,421 shares of the transportation company’s stock after selling 689,206 shares during the period. Jennison Associates LLC owned 0.30% of Delta Air Lines worth $92,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in DAL. American International Group Inc. raised its position in Delta Air Lines by 1.6% in the fourth quarter. American International Group Inc. now owns 181,107 shares of the transportation company’s stock valued at $7,286,000 after purchasing an additional 2,783 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Delta Air Lines by 132.3% in the 4th quarter. International Assets Investment Management LLC now owns 466,741 shares of the transportation company’s stock valued at $18,777,000 after buying an additional 265,852 shares during the period. Capital Advisors Inc. OK purchased a new stake in shares of Delta Air Lines in the 4th quarter valued at $4,241,000. Meeder Asset Management Inc. raised its holdings in shares of Delta Air Lines by 325.5% in the 4th quarter. Meeder Asset Management Inc. now owns 77,647 shares of the transportation company’s stock valued at $3,124,000 after buying an additional 59,398 shares during the period. Finally, First Hawaiian Bank acquired a new position in Delta Air Lines during the 1st quarter worth $749,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on DAL. Citigroup boosted their target price on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Jefferies Financial Group lowered their price objective on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Bank of America upped their price objective on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. HSBC started coverage on Delta Air Lines in a research note on Monday, May 13th. They set a “buy” rating and a $72.80 target price for the company. Finally, TD Cowen upped their price target on Delta Air Lines from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $60.30.

Delta Air Lines Stock Up 2.2 %

NYSE DAL traded up $1.03 during trading on Tuesday, reaching $47.38. 4,804,446 shares of the company’s stock were exchanged, compared to its average volume of 9,418,846. The firm has a market capitalization of $30.57 billion, a PE ratio of 6.10, a P/E/G ratio of 0.68 and a beta of 1.35. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The company’s fifty day simple moving average is $50.31 and its 200-day simple moving average is $45.43.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. The firm had revenue of $13.75 billion during the quarter, compared to analyst estimates of $12.51 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.59 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. Delta Air Lines’s payout ratio is currently 5.14%.

Insider Activity

In other news, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the sale, the president now directly owns 217,584 shares in the company, valued at $10,672,495.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Willie Cw Chiang purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $49.50 per share, with a total value of $495,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $495,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the transaction, the president now directly owns 217,584 shares in the company, valued at approximately $10,672,495.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,919 shares of company stock worth $8,834,653. Company insiders own 0.96% of the company’s stock.

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.