Delta Air Lines, Inc. (DAL) Stake Lowered by Gyroscope Capital Management Group LLC
Gyroscope Capital Management Group LLC decreased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 65.6% during the first quarter, HoldingsChannel reports. The firm owned 158,902 shares of the transportation company’s stock after selling 302,762 shares during the period. Delta Air Lines accounts for 3.5% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 6th largest position. Gyroscope Capital Management Group LLC’s holdings in Delta Air Lines were worth $9,129,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of DAL. Oregon Public Employees Retirement Fund lifted its holdings in Delta Air Lines by 3,837.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,713,031 shares of the transportation company’s stock worth $215,000 after purchasing an additional 10,440,934 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Delta Air Lines by 185.7% during the 4th quarter. Two Sigma Advisers LP now owns 3,653,225 shares of the transportation company’s stock worth $182,296,000 after purchasing an additional 2,374,531 shares in the last quarter. FMR LLC lifted its holdings in Delta Air Lines by 30.9% during the 4th quarter. FMR LLC now owns 9,742,670 shares of the transportation company’s stock worth $486,161,000 after purchasing an additional 2,298,101 shares in the last quarter. Norges Bank purchased a new stake in Delta Air Lines during the 4th quarter worth about $89,761,000. Finally, Federated Investors Inc. PA lifted its holdings in Delta Air Lines by 299.7% during the 3rd quarter. Federated Investors Inc. PA now owns 2,379,531 shares of the transportation company’s stock worth $137,608,000 after purchasing an additional 1,784,276 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Delta Air Lines stock traded down $0.42 during trading on Monday, hitting $57.75. 4,043,281 shares of the stock traded hands, compared to its average volume of 8,154,423. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $37.79 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.70 and a beta of 1.08. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $61.32.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.42%. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.78%.
In other news, Director Francis S. Blake acquired 5,185 shares of Delta Air Lines stock in a transaction dated Monday, January 28th. The shares were purchased at an average cost of $48.17 per share, for a total transaction of $249,761.45. Following the transaction, the director now owns 47,885 shares of the company’s stock, valued at $2,306,620.45. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO W Gilbert West sold 21,000 shares of the stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $50.49, for a total value of $1,060,290.00. Following the transaction, the chief operating officer now owns 136,799 shares in the company, valued at $6,906,981.51. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 3,559,723 shares of company stock worth $176,077,837 and have sold 111,901 shares worth $6,010,888. 0.33% of the stock is currently owned by corporate insiders.
A number of analysts recently issued reports on DAL shares. Zacks Investment Research cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Bank of America cut Delta Air Lines from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $62.00 to $51.00 in a report on Monday, January 14th. Stephens set a $63.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their price objective on Delta Air Lines from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Deutsche Bank cut Delta Air Lines from a “buy” rating to a “hold” rating and set a $49.58 price objective on the stock. in a report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $66.21.
Delta Air Lines 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 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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