iA Global Asset Management Inc. Trims Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

iA Global Asset Management Inc. lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 7.6% during the 4th quarter, Holdings Channel reports. The firm owned 56,384 shares of the transportation company’s stock after selling 4,662 shares during the quarter. iA Global Asset Management Inc.’s holdings in Delta Air Lines were worth $3,411,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of DAL. WASHINGTON TRUST Co boosted its position in Delta Air Lines by 7.5% in the fourth quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company’s stock valued at $130,000 after buying an additional 150 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of Delta Air Lines by 48.1% in the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after buying an additional 154 shares during the period. Mason & Associates Inc lifted its holdings in Delta Air Lines by 3.2% in the fourth quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company’s stock valued at $308,000 after acquiring an additional 160 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Delta Air Lines by 1.2% during the 4th quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company’s stock worth $865,000 after purchasing an additional 173 shares during the period. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of Delta Air Lines by 10.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,820 shares of the transportation company’s stock valued at $110,000 after purchasing an additional 175 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

Shares of DAL opened at $46.92 on Friday. The stock has a market cap of $30.33 billion, a PE ratio of 8.80, a P/E/G ratio of 0.75 and a beta of 1.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98. The firm has a 50-day simple moving average of $61.21 and a two-hundred day simple moving average of $57.99.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.60 annualized dividend and a yield of 1.28%. Delta Air Lines’s payout ratio is 11.26%.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total value of $2,467,312.47. Following the completion of the transaction, the executive vice president now owns 52,789 shares in the company, valued at approximately $3,425,478.21. The trade was a 41.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DAL has been the subject of a number of analyst reports. UBS Group reduced their price target on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Susquehanna boosted their price objective on Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, January 7th. Citigroup reduced their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Barclays cut their price objective on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and an average price target of $76.29.

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.