Phoenix Financial Ltd. Has $7.38 Million Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Phoenix Financial Ltd. cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,903 shares of the transportation company’s stock after selling 34,045 shares during the period. Phoenix Financial Ltd.’s holdings in Delta Air Lines were worth $7,375,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Delta Air Lines by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 72,410,242 shares of the transportation company’s stock worth $4,380,820,000 after purchasing an additional 456,465 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Delta Air Lines by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 15,912,584 shares of the transportation company’s stock worth $968,234,000 after buying an additional 410,648 shares in the last quarter. FMR LLC raised its holdings in shares of Delta Air Lines by 29.3% in the 4th quarter. FMR LLC now owns 9,955,818 shares of the transportation company’s stock worth $602,327,000 after buying an additional 2,254,560 shares in the last quarter. Boston Partners acquired a new position in shares of Delta Air Lines in the 4th quarter worth approximately $328,398,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Delta Air Lines by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,597,589 shares of the transportation company’s stock valued at $217,654,000 after purchasing an additional 100,102 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Stock Up 23.8 %

Shares of NYSE:DAL opened at $44.42 on Thursday. The company has a fifty day moving average of $53.48 and a 200-day moving average of $57.81. The company has a market capitalization of $28.72 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. Delta Air Lines, Inc. has a 52-week low of $34.74 and a 52-week high of $69.98.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). The company had revenue of $12.98 billion during the quarter, compared to analyst estimates of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.35%. Delta Air Lines’s dividend payout ratio (DPR) is currently 11.26%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $46.00 price objective (down from $85.00) on shares of Delta Air Lines in a research report on Tuesday, April 1st. Raymond James reduced their target price on Delta Air Lines from $80.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Barclays dropped their price target on Delta Air Lines from $80.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday. Susquehanna lowered their target price on Delta Air Lines from $80.00 to $50.00 and set a “positive” rating on the stock in a research report on Monday. Finally, Citigroup reduced their price target on Delta Air Lines from $80.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.63.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Rahul D. Samant sold 17,970 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total value of $1,241,367.60. Following the sale, the executive vice president now owns 35,889 shares in the company, valued at $2,479,212.12. This represents a 33.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward H. Bastian sold 91,710 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is currently owned by insiders.

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.