OV Management LLC Has $2.56 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

OV Management LLC boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,287 shares of the transportation company’s stock after purchasing an additional 3,186 shares during the period. Delta Air Lines accounts for 1.2% of OV Management LLC’s investment portfolio, making the stock its 18th biggest holding. OV Management LLC’s holdings in Delta Air Lines were worth $2,558,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Boston Partners purchased a new stake in Delta Air Lines in the 4th quarter worth approximately $328,398,000. Norges Bank purchased a new stake in shares of Delta Air Lines during the fourth quarter worth $152,342,000. Raymond James Financial Inc. purchased a new stake in shares of Delta Air Lines during the fourth quarter worth $64,577,000. Vanguard Group Inc. grew its stake in shares of 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 valued at $4,380,820,000 after buying an additional 456,465 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Delta Air Lines by 325.7% during the 4th quarter. Retirement Systems of Alabama now owns 592,808 shares of the transportation company’s stock valued at $35,865,000 after purchasing an additional 453,547 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP William C. Carroll sold 6,783 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.94, for a total transaction of $447,271.02. Following the completion of the sale, the senior vice president now owns 10,016 shares in the company, valued at $660,455.04. This trade represents a 40.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Edward H. Bastian sold 91,710 shares of Delta Air Lines 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,886 shares of company stock worth $11,116,463. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

DAL opened at $43.62 on Tuesday. The stock has a market cap of $28.20 billion, a PE ratio of 8.18, a P/E/G ratio of 0.75 and a beta of 1.34. Delta Air Lines, Inc. has a 1 year low of $37.29 and a 1 year high of $69.98. The stock’s 50 day simple moving average is $58.50 and its 200-day simple moving average is $58.38. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. During the same quarter in the prior year, the company posted $1.28 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s payout ratio is 11.26%.

Analysts Set New Price Targets

DAL has been the topic of a number of analyst reports. UBS Group lowered their price objective on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Barclays dropped their price target on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Citigroup dropped their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Susquehanna upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $76.29.

Delta Air Lines Company 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.