The Manufacturers Life Insurance Company Reduces Stake in Delta Air Lines, Inc. (NYSE:DAL)

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The Manufacturers Life Insurance Company lowered its stake in Delta Air Lines, Inc. (NYSE:DAL) by 9.6% in the first quarter, Holdings Channel reports. The fund owned 654,491 shares of the transportation company’s stock after selling 69,345 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Delta Air Lines were worth $33,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DAL. Oregon Public Employees Retirement Fund lifted its holdings in shares of Delta Air Lines by 3,837.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,713,031 shares of the transportation company’s stock worth $215,000 after acquiring an additional 10,440,934 shares during the last quarter. Boston Partners lifted its holdings in shares of Delta Air Lines by 24.1% in the first quarter. Boston Partners now owns 13,730,881 shares of the transportation company’s stock worth $709,200,000 after acquiring an additional 2,669,765 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Delta Air Lines by 185.7% in the fourth quarter. Two Sigma Advisers LP now owns 3,653,225 shares of the transportation company’s stock worth $182,296,000 after acquiring an additional 2,374,531 shares during the last quarter. FMR LLC lifted its holdings in shares of Delta Air Lines by 30.9% in the fourth quarter. FMR LLC now owns 9,742,670 shares of the transportation company’s stock worth $486,161,000 after acquiring an additional 2,298,101 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Delta Air Lines in the fourth quarter worth about $89,761,000. 87.41% of the stock is owned by hedge funds and other institutional investors.

NYSE DAL traded up $0.45 during trading hours on Wednesday, reaching $55.33. The company’s stock had a trading volume of 122,545 shares, compared to its average volume of 6,926,702. The firm has a market cap of $36.14 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.59 and a beta of 1.15. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $61.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.29.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $10.47 billion during the quarter, compared to analyst estimates of $10.39 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. During the same quarter last year, the business earned $0.74 EPS. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 6.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.53%. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.78%.

In related news, insider Steven M. Sear sold 8,993 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total value of $479,057.11. Following the completion of the transaction, the insider now owns 76,150 shares in the company, valued at approximately $4,056,510.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Edward H. Bastian sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the completion of the transaction, the chief executive officer now owns 354,191 shares of the company’s stock, valued at approximately $20,365,982.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,468 shares of company stock valued at $6,118,032. 0.47% of the stock is owned by company insiders.

A number of research analysts have recently commented on the stock. Imperial Capital reissued an “in-line” rating and issued a $58.00 target price on shares of Delta Air Lines in a report on Thursday, April 11th. Zacks Investment Research cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Citigroup increased their target price on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Bank of America reissued a “neutral” rating and issued a $59.00 target price (up previously from $55.00) on shares of Delta Air Lines in a report on Thursday, April 4th. Finally, Stifel Nicolaus increased their target price on shares of Delta Air Lines from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $65.27.

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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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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