Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 66.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,501 shares of the transportation company’s stock after selling 95,824 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Delta Air Lines were worth $1,951,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Perigon Wealth Management LLC grew its stake in Delta Air Lines by 10.4% during the third quarter. Perigon Wealth Management LLC now owns 10,329 shares of the transportation company’s stock valued at $382,000 after acquiring an additional 969 shares in the last quarter. International Assets Investment Management LLC grew its stake in Delta Air Lines by 132.3% during the fourth quarter. International Assets Investment Management LLC now owns 466,741 shares of the transportation company’s stock valued at $18,777,000 after acquiring an additional 265,852 shares in the last quarter. Capital Advisors Inc. OK bought a new stake in Delta Air Lines during the fourth quarter valued at approximately $4,241,000. Meeder Asset Management Inc. lifted its position in Delta Air Lines by 325.5% during the fourth quarter. Meeder Asset Management Inc. now owns 77,647 shares of the transportation company’s stock valued at $3,124,000 after purchasing an additional 59,398 shares during the last quarter. Finally, U S Global Investors Inc. lifted its position in Delta Air Lines by 21.1% during the fourth quarter. U S Global Investors Inc. now owns 4,434,509 shares of the transportation company’s stock valued at $178,400,000 after purchasing an additional 773,636 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Down 2.6 %

Shares of DAL opened at $47.94 on Thursday. The firm has a market cap of $30.94 billion, a price-to-earnings ratio of 6.16, a PEG ratio of 0.73 and a beta of 1.43. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $49.81. The firm has a 50 day moving average price of $44.65 and a 200-day moving average price of $40.01.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 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 analyst estimates of $12.51 billion. During the same period in the prior year, the business posted $0.25 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 6.52 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, February 26th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, February 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. Delta Air Lines’s dividend payout ratio is currently 5.14%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DAL shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Susquehanna lifted their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research report on Tuesday, April 9th. Morgan Stanley reiterated an “overweight” rating and set a $85.00 target price on shares of Delta Air Lines in a research report on Thursday, April 11th. Bank of America lifted their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, UBS Group started coverage on shares of Delta Air Lines in a research report on Wednesday, March 20th. They set a “buy” rating and a $59.00 target price for the company. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $58.29.

Insider Activity at Delta Air Lines

In related news, 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 transaction of $4,905,000.00. Following the completion of the sale, the president now directly owns 217,584 shares in the company, valued at approximately $10,672,495.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the transaction, the president now directly owns 217,584 shares of the company’s stock, valued at approximately $10,672,495.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the transaction, the executive vice president now directly owns 141,451 shares in the company, valued at $6,911,295.86. The disclosure for this sale can be found here. Insiders sold 195,913 shares of company stock worth $8,897,335 in the last three months. 0.89% of the stock is owned by insiders.

Delta Air Lines Company Profile

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.