Public Sector Pension Investment Board Cuts Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Public Sector Pension Investment Board lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DALGet Rating) by 30.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,051,198 shares of the transportation company’s stock after selling 451,220 shares during the period. Public Sector Pension Investment Board owned approximately 0.16% of Delta Air Lines worth $41,081,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Ancora Advisors LLC lifted its stake in Delta Air Lines by 67.4% during the 3rd quarter. Ancora Advisors LLC now owns 35,688 shares of the transportation company’s stock valued at $1,521,000 after acquiring an additional 14,365 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Delta Air Lines in the fourth quarter valued at about $7,325,000. Everence Capital Management Inc. grew its holdings in shares of Delta Air Lines by 83.7% in the fourth quarter. Everence Capital Management Inc. now owns 20,960 shares of the transportation company’s stock valued at $819,000 after purchasing an additional 9,550 shares during the period. ProShare Advisors LLC lifted its position in Delta Air Lines by 47.1% in the fourth quarter. ProShare Advisors LLC now owns 140,741 shares of the transportation company’s stock valued at $5,501,000 after buying an additional 45,071 shares during the last quarter. Finally, Hartford Investment Management Co. lifted its position in Delta Air Lines by 8.4% in the fourth quarter. Hartford Investment Management Co. now owns 64,970 shares of the transportation company’s stock valued at $2,539,000 after buying an additional 5,023 shares during the last quarter. 63.24% of the stock is currently owned by institutional investors.

In other news, EVP Joanne D. Smith sold 6,098 shares of the firm’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $41.99, for a total value of $256,055.02. Following the completion of the sale, the executive vice president now directly owns 129,881 shares in the company, valued at approximately $5,453,703.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Glen W. Hauenstein sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $43.55, for a total transaction of $435,500.00. Following the completion of the transaction, the president now directly owns 267,527 shares in the company, valued at approximately $11,650,800.85. The disclosure for this sale can be found here. Insiders sold a total of 25,122 shares of company stock valued at $1,089,874 over the last quarter. 0.63% of the stock is owned by corporate insiders.

Shares of Delta Air Lines stock traded down $1.95 during trading on Tuesday, reaching $37.57. The stock had a trading volume of 208,684 shares, compared to its average volume of 15,244,989. Delta Air Lines, Inc. has a 52 week low of $29.75 and a 52 week high of $48.54. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of 50.03 and a beta of 1.05. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 8.17. The stock has a fifty day moving average price of $39.87 and a two-hundred day moving average price of $39.41.

Delta Air Lines (NYSE:DALGet Rating) last posted its earnings results on Wednesday, April 13th. The transportation company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.28) by $0.05. The company had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $8.99 billion. Delta Air Lines had a negative return on equity of 41.80% and a net margin of 1.47%. The firm’s revenue for the quarter was up 125.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.55) earnings per share. On average, equities analysts forecast that Delta Air Lines, Inc. will post 2.64 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. Susquehanna increased their price target on shares of Delta Air Lines from $45.00 to $47.00 in a research report on Thursday, April 14th. Bank of America increased their price target on shares of Delta Air Lines from $47.00 to $50.00 in a research note on Thursday, April 14th. UBS Group upgraded shares of Delta Air Lines from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.00 to $53.00 in a research report on Monday, April 18th. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, April 20th. Finally, JPMorgan Chase & Co. raised their target price on Delta Air Lines from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $52.41.

Delta Air Lines Profile (Get Rating)

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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.

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

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