PensionDanmark Pensionsforsikringsaktieselskab Cuts Position in Delta Air Lines, Inc. $DAL

PensionDanmark Pensionsforsikringsaktieselskab lessened its position in Delta Air Lines, Inc. (NYSE:DAL) by 74.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,769 shares of the transportation company’s stock after selling 19,987 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Delta Air Lines were worth $634,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lloyd Advisory Services LLC. acquired a new position in Delta Air Lines during the 4th quarter worth $31,000. Camelot Portfolios LLC acquired a new stake in Delta Air Lines in the 4th quarter valued at about $34,000. Cornerstone Planning Group LLC boosted its stake in shares of Delta Air Lines by 451.6% in the 4th quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock valued at $34,000 after buying an additional 429 shares during the period. Atlas Wealth LLC purchased a new position in shares of Delta Air Lines in the 1st quarter valued at about $35,000. Finally, Main Street Group LTD purchased a new position in shares of Delta Air Lines in the 1st quarter valued at about $36,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Cantor Fitzgerald set a $112.00 target price on Delta Air Lines in a report on Tuesday, July 14th. TD Cowen increased their price target on shares of Delta Air Lines from $106.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their target price on Delta Air Lines from $75.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Finally, Argus set a $105.00 price target on Delta Air Lines in a report on Tuesday, July 14th. Twenty-three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Delta Air Lines presently has a consensus rating of “Moderate Buy” and an average price target of $100.40.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Steven M. Sear sold 40,460 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the transaction, the executive vice president directly owned 104,404 shares in the company, valued at approximately $9,766,994.20. This represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 35,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the transaction, the executive vice president owned 95,025 shares in the company, valued at approximately $8,810,718. The trade was a 26.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 401,436 shares of company stock valued at $36,617,497. Corporate insiders own 0.80% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $88.99 on Tuesday. Delta Air Lines, Inc. has a 1 year low of $53.12 and a 1 year high of $95.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.35 and a current ratio of 0.42. The stock has a fifty day moving average price of $86.62 and a 200 day moving average price of $75.07. The stock has a market cap of $58.52 billion, a PE ratio of 14.76, a P/E/G ratio of 1.15 and a beta of 1.31.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $17.67 billion during the quarter, compared to the consensus estimate of $17.43 billion. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the firm posted $2.10 EPS. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.54 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Thursday, July 9th were given a dividend of $0.215 per share. The ex-dividend date was Thursday, July 9th. This represents a $0.86 dividend on an annualized basis and a yield of 1.0%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.19. Delta Air Lines’s dividend payout ratio (DPR) is 14.26%.

Delta Air Lines Company Profile

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.