Evergreen Capital Management LLC Reduces Position in Delta Air Lines, Inc. (NYSE:DAL)

Evergreen Capital Management LLC trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 198,136 shares of the transportation company’s stock after selling 16,525 shares during the quarter. Evergreen Capital Management LLC’s holdings in Delta Air Lines were worth $11,987,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Donoghue Forlines LLC bought a new position in Delta Air Lines during the fourth quarter valued at approximately $2,036,000. Mount Yale Investment Advisors LLC bought a new position in shares of Delta Air Lines during the 4th quarter valued at $3,593,000. Global Financial Private Client LLC lifted its holdings in shares of Delta Air Lines by 562.0% during the 4th quarter. Global Financial Private Client LLC now owns 11,260 shares of the transportation company’s stock valued at $681,000 after buying an additional 9,559 shares during the period. BluePath Capital Management LLC boosted its stake in shares of Delta Air Lines by 23.9% in the 4th quarter. BluePath Capital Management LLC now owns 23,657 shares of the transportation company’s stock worth $1,540,000 after buying an additional 4,567 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Delta Air Lines in the fourth quarter worth $244,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on DAL. The Goldman Sachs Group cut their price target on Delta Air Lines from $83.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Barclays cut their target price on shares of Delta Air Lines from $80.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. TD Cowen increased their price target on shares of Delta Air Lines from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Bank of America cut their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $46.00 target price (down from $85.00) on shares of Delta Air Lines in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.06.

Insiders Place Their Bets

In related news, CEO Edward H. Bastian sold 91,710 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $30,721,357.15. This represents a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now owns 52,789 shares of the company’s stock, valued at $3,425,478.21. This trade represents a 41.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock valued at $11,116,463 in the last quarter. 0.96% of the stock is currently owned by insiders.

Delta Air Lines Stock Up 1.3 %

Shares of DAL opened at $40.82 on Wednesday. Delta Air Lines, Inc. has a 12-month low of $34.74 and a 12-month high of $69.98. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $26.39 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23. The business’s 50 day moving average is $51.26 and its 200 day moving average is $57.54.

Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, April 9th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.38). The company had revenue of $12.98 billion during the quarter, compared to analysts’ expectations of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.45 EPS. Research analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s dividend payout ratio is presently 10.64%.

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 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.