Mackenzie Financial Corp Cuts Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Mackenzie Financial Corp lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 41.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,964 shares of the transportation company’s stock after selling 145,963 shares during the quarter. Mackenzie Financial Corp’s holdings in Delta Air Lines were worth $8,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of DAL. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Delta Air Lines by 495.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 685 shares of the transportation company’s stock worth $25,000 after acquiring an additional 570 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in shares of Delta Air Lines during the fourth quarter worth $28,000. Venturi Wealth Management LLC increased its position in shares of Delta Air Lines by 396.6% during the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after acquiring an additional 575 shares during the period. Moisand Fitzgerald Tamayo LLC increased its holdings in Delta Air Lines by 55.2% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 874 shares of the transportation company’s stock valued at $32,000 after buying an additional 311 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Delta Air Lines in the third quarter valued at $35,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Down 0.6 %

NYSE DAL opened at $47.57 on Friday. The stock has a market capitalization of $30.70 billion, a P/E ratio of 6.11, a P/E/G ratio of 0.71 and a beta of 1.43. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $49.81. The firm has a 50-day moving average price of $44.16 and a 200 day moving average price of $39.72. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The company had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same period last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Delta Air Lines, Inc. will post 6.52 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, February 26th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Insider Buying and Selling at Delta Air Lines

In other news, CEO Edward H. Bastian sold 71,840 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $39.20, for a total transaction of $2,816,128.00. Following the completion of the transaction, the chief executive officer now directly owns 428,768 shares of the company’s stock, valued at approximately $16,807,705.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DAL shares. UBS Group started coverage on Delta Air Lines in a report on Wednesday, March 20th. They issued a “buy” rating and a $59.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $85.00 target price on shares of Delta Air Lines in a report on Thursday, April 11th. Susquehanna increased their target price on Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a report on Tuesday, April 9th. StockNews.com lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, TheStreet raised Delta Air Lines from a “c+” rating to a “b-” rating in a report on Thursday, January 4th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $58.29.

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.