Pzena Investment Management LLC Sells 370,517 Shares of Delta Air Lines, Inc. $DAL

Pzena Investment Management LLC reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,248,190 shares of the transportation company’s stock after selling 370,517 shares during the period. Pzena Investment Management LLC owned 0.34% of Delta Air Lines worth $187,634,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Delta Air Lines in the 2nd quarter worth approximately $28,829,000. TD Waterhouse Canada Inc. grew its position in shares of Delta Air Lines by 646.6% in the second quarter. TD Waterhouse Canada Inc. now owns 45,161 shares of the transportation company’s stock valued at $4,207,000 after purchasing an additional 39,112 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Delta Air Lines by 45.1% in the second quarter. Baird Financial Group Inc. now owns 449,986 shares of the transportation company’s stock valued at $42,146,000 after purchasing an additional 139,799 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Delta Air Lines by 105.3% in the first quarter. Bessemer Group Inc. now owns 39,018 shares of the transportation company’s stock valued at $2,595,000 after purchasing an additional 20,012 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Delta Air Lines by 102.3% in the first quarter. NewEdge Advisors LLC now owns 105,966 shares of the transportation company’s stock valued at $7,045,000 after purchasing an additional 53,581 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DAL. UBS Group lowered their price objective on Delta Air Lines from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Delta Air Lines in a research note on Monday, October 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Delta Air Lines in a report on Monday, August 3rd. Raymond James Financial reissued an “outperform” rating and set a $100.00 price target on shares of Delta Air Lines in a research report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Delta Air Lines from $85.00 to $114.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Twenty-two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.65.

Insider Activity at Delta Air Lines

In other news, CEO Edward Bastian sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $82.00, for a total transaction of $4,100,000.00. Following the sale, the chief executive officer owned 1,313,448 shares of the company’s stock, valued at approximately $107,702,736. This trade represents a 3.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $89.29 on Thursday. The firm has a market cap of $58.75 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.49 and a beta of 1.43. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. Delta Air Lines, Inc. has a 52 week low of $55.27 and a 52 week high of $95.68. The business’s fifty day simple moving average is $80.63 and its 200-day simple moving average is $76.94.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Friday, October 9th. The transportation company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.05). Delta Air Lines had a net margin of 4.58% and a return on equity of 16.83%. The firm had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.64 billion. During the same period in the previous year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Delta Air Lines has set its Q4 2026 guidance at 1.150-1.650 EPS and its FY 2026 guidance at 5.100-5.600 EPS. Equities analysts forecast that Delta Air Lines, Inc. will post 5.34 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Thursday, October 15th will be issued a $0.2150 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. Delta Air Lines’s dividend payout ratio is presently 17.17%.

Delta Air Lines Profile

Delta Air Lines, Inc is a major U.S. airline headquartered in Atlanta, Georgia. The company provides scheduled passenger air transportation to destinations across the United States and international markets, including Europe, Latin America, Asia, Canada, Africa and the Caribbean. Delta operates through a network of hubs and focus cities, offering service under the Delta brand and through regional partners operating as Delta Connection.

In addition to passenger flights, Delta provides air cargo transportation and related logistics services.