Pzena Investment Management LLC Invests $281.21 Million in Delta Air Lines, Inc. (NYSE:DAL)

Pzena Investment Management LLC purchased a new stake in Delta Air Lines, Inc. (NYSE:DAL) during the third quarter, HoldingsChannel.com reports. The firm purchased 5,536,640 shares of the transportation company’s stock, valued at approximately $281,206,000.

A number of other large investors also recently made changes to their positions in DAL. Future Financial Wealth Managment LLC acquired a new stake in shares of Delta Air Lines in the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in Delta Air Lines in the third quarter valued at approximately $31,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines in the second quarter worth $31,000. Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines during the second quarter worth $40,000. Finally, Quarry LP acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Down 3.4 %

Shares of Delta Air Lines stock traded down $2.18 on Wednesday, reaching $62.57. The company’s stock had a trading volume of 3,416,507 shares, compared to its average volume of 9,361,867. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 52 week low of $35.46 and a 52 week high of $66.25. The company has a market capitalization of $40.38 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 1.22 and a beta of 1.33. The firm’s fifty day simple moving average is $53.88 and its two-hundred day simple moving average is $48.88.

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

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.33%.

Insider Transactions at Delta Air Lines

In related news, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the transaction, the executive vice president now owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. This trade represents a 11.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of the firm’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 value of $173,128.26. Following the completion of the sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DAL has been the topic of several research analyst reports. Barclays raised their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. TD Cowen boosted their price target on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group lifted their target price on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Bank of America raised their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and an average price target of $71.22.

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.