Ameriprise Financial Inc. Cuts Stake in Delta Air Lines, Inc. (NYSE:DAL)

Ameriprise Financial Inc. lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 946,233 shares of the transportation company’s stock after selling 17,891 shares during the quarter. Ameriprise Financial Inc. owned 0.15% of Delta Air Lines worth $57,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. WASHINGTON TRUST Co raised its stake in Delta Air Lines by 7.5% during the 4th quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 150 shares during the period. Hemington Wealth Management raised its position in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after buying an additional 154 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Delta Air Lines by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 8,555 shares of the transportation company’s stock valued at $554,000 after acquiring an additional 155 shares during the last quarter. Mason & Associates Inc grew its position in Delta Air Lines by 3.2% in the fourth quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company’s stock worth $308,000 after acquiring an additional 160 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Delta Air Lines by 1.2% during the fourth quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company’s stock worth $865,000 after acquiring an additional 173 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Cowen boosted their target price on Delta Air Lines from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 10th. The Goldman Sachs Group reduced their target price on shares of Delta Air Lines from $83.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Barclays cut their price target on shares of Delta Air Lines from $80.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Bank of America dropped their target price on 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, Raymond James reduced their price target 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. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Delta Air Lines currently has an average rating of “Moderate Buy” and a consensus target price of $61.37.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Rahul D. Samant sold 38,023 shares of Delta Air Lines stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the completion of the transaction, the executive vice president now owns 52,789 shares in the company, valued at approximately $3,425,478.21. This trade represents a 41.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.88% of the stock is owned by insiders.

Delta Air Lines Stock Performance

Shares of NYSE:DAL opened at $48.28 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46. The firm has a 50 day moving average of $44.06 and a 200 day moving average of $56.39. 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 issued its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.38). Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The firm had revenue of $12.98 billion during the quarter, compared to analysts’ expectations of $13.85 billion. During the same period in the previous year, the firm earned $0.45 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, May 13th. Delta Air Lines’s dividend payout ratio (DPR) 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.