Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in Delta Air Lines, Inc. (NYSE:DAL) by 56.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,779 shares of the transportation company’s stock after selling 1,146,098 shares during the period. Jennison Associates LLC owned approximately 0.14% of Delta Air Lines worth $45,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Delta Air Lines by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after purchasing an additional 1,105,674 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Delta Air Lines by 17.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,826,473 shares of the transportation company’s stock valued at $87,433,000 after buying an additional 265,886 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Delta Air Lines by 28.9% in the third quarter. Victory Capital Management Inc. now owns 1,595,203 shares of the transportation company’s stock valued at $81,020,000 after acquiring an additional 358,082 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of Delta Air Lines by 0.7% in the second quarter. Ceredex Value Advisors LLC now owns 1,557,517 shares of the transportation company’s stock valued at $73,889,000 after acquiring an additional 11,461 shares during the period. Finally, Great Lakes Advisors LLC grew its position in shares of Delta Air Lines by 27.9% during the second quarter. Great Lakes Advisors LLC now owns 1,425,451 shares of the transportation company’s stock worth $67,623,000 after acquiring an additional 310,529 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,197,608.72. The trade was a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock worth $8,044,893 over the last ninety days. 0.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Sanford C. Bernstein raised their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Barclays increased their price objective on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Susquehanna increased their price target on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $72.75.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $63.48 on Friday. The firm has a market capitalization of $40.96 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The business’s 50 day simple moving average is $54.65 and its 200-day simple moving average is $49.08. Delta Air Lines, Inc. has a 12 month low of $35.46 and a 12 month high of $66.25.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). The firm had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company posted $2.03 EPS. As a group, equities analysts forecast that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

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.