Geode Capital Management LLC Has $1.22 Billion Stock Holdings in Delta Air Lines, Inc. $DAL

Geode Capital Management LLC boosted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,413,841 shares of the transportation company’s stock after buying an additional 202,865 shares during the period. Geode Capital Management LLC’s holdings in Delta Air Lines were worth $1,215,766,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DAL. AlphaQuest LLC raised its holdings in Delta Air Lines by 90.6% during the third quarter. AlphaQuest LLC now owns 444 shares of the transportation company’s stock worth $25,000 after buying an additional 211 shares during the last quarter. Accredited Wealth Management LLC raised its holdings in Delta Air Lines by 1,983.3% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the transportation company’s stock worth $28,000 after buying an additional 476 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in Delta Air Lines during the fourth quarter worth $31,000. SWAN Capital LLC raised its holdings in Delta Air Lines by 1,016.0% during the third quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock worth $32,000 after buying an additional 508 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new position in Delta Air Lines during the fourth quarter worth $34,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analyst Weigh In

DAL has been the topic of several research reports. Susquehanna lowered their price objective on shares of Delta Air Lines from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. UBS Group upped their target price on shares of Delta Air Lines from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group upped their target price on shares of Delta Air Lines from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. TD Cowen upped their target price on shares of Delta Air Lines from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Sanford C. Bernstein upped their target price on shares of Delta Air Lines from $81.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.22.

Key Stories Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: TD Cowen raised its price target on Delta Air Lines from $84 to $92 and reiterated a buy rating, reinforcing expectations for further upside in the shares. TD Cowen price target update
• Positive Sentiment: Airline stocks are benefiting from strong travel demand and a more favorable fuel-cost backdrop as oil prices have eased from recent highs, which can help Delta’s margins. Air travel demand and airfare article
• Positive Sentiment: Recent market coverage highlighted that Delta shares have been supported by analyst upgrades and higher price targets, reflecting improving confidence in the company’s earnings outlook. Delta stock is up article
• Neutral Sentiment: Delta’s CEO defended the carrier’s choice of Amazon’s in-flight Wi-Fi service over SpaceX Starlink, a strategic decision that may matter competitively but is not an immediate financial catalyst. Delta Wi-Fi strategy article
• Negative Sentiment: Two recent insider sales by Delta executives, including EVP Allison Ausband and EVP Alain Bellemare, may modestly pressure sentiment even though insider selling is not always a fundamental red flag. Ausband SEC filing Bellemare SEC filing

Delta Air Lines Stock Performance

NYSE DAL opened at $82.49 on Friday. Delta Air Lines, Inc. has a 1 year low of $45.28 and a 1 year high of $83.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. The firm has a market cap of $54.20 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.19 and a beta of 1.25. The company has a fifty day moving average price of $70.15 and a 200-day moving average price of $67.99.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, equities research analysts predict that Delta Air Lines, Inc. will post 5.26 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.75 annualized dividend and a yield of 0.9%. Delta Air Lines’s dividend payout ratio is presently 10.93%.

Insider Activity at Delta Air Lines

In related news, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total transaction of $2,036,000.00. Following the completion of the transaction, the executive vice president owned 95,025 shares in the company, valued at approximately $7,738,836. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the transaction, the executive vice president owned 138,854 shares of the company’s stock, valued at approximately $10,552,904. The trade was a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 149,635 shares of company stock worth $10,833,855. 0.80% of the stock is owned by company insiders.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.