Delta Air Lines, Inc. (DAL) Stake Lessened by Gateway Investment Advisers LLC

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Gateway Investment Advisers LLC trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,772 shares of the transportation company’s stock after selling 3,764 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Delta Air Lines were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Capital Investment Advisors LLC lifted its stake in shares of Delta Air Lines by 3.8% in the 4th quarter. Capital Investment Advisors LLC now owns 6,340 shares of the transportation company’s stock valued at $316,000 after purchasing an additional 231 shares during the period. First Heartland Consultants Inc. lifted its stake in shares of Delta Air Lines by 1.7% in the 4th quarter. First Heartland Consultants Inc. now owns 16,428 shares of the transportation company’s stock valued at $820,000 after purchasing an additional 272 shares during the period. Washington Trust Bank lifted its stake in shares of Delta Air Lines by 141.3% in the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 284 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Delta Air Lines by 45.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 911 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 285 shares during the period. Finally, Pineno Levin & Ford Asset Management Inc. lifted its stake in shares of Delta Air Lines by 0.6% in the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,453 shares of the transportation company’s stock valued at $2,617,000 after purchasing an additional 290 shares during the period. 88.01% of the stock is currently owned by institutional investors.

DAL has been the topic of a number of recent analyst reports. Credit Suisse Group set a $67.00 price objective on Delta Air Lines and gave the company a “buy” rating in a research note on Wednesday, January 16th. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, December 17th. Stephens reaffirmed a “buy” rating on shares of Delta Air Lines in a research note on Sunday, January 6th. Stifel Nicolaus upped their price target on Delta Air Lines from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Buckingham Research upped their price target on Delta Air Lines from $62.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.15.

In other Delta Air Lines news, COO W Gilbert West sold 7,465 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $58.52, for a total transaction of $436,851.80. Following the completion of the transaction, the chief operating officer now directly owns 94,933 shares of the company’s stock, valued at $5,555,479.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 1,202,961 shares of Delta Air Lines stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $49.65 per share, with a total value of $59,727,013.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,559,723 shares of company stock valued at $176,077,837 and sold 111,901 shares valued at $6,010,888. Corporate insiders own 0.33% of the company’s stock.

Shares of Delta Air Lines stock opened at $58.05 on Monday. The company has a market capitalization of $38.25 billion, a PE ratio of 10.27, a P/E/G ratio of 0.71 and a beta of 1.08. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $61.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.28.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.90 by $0.06. The firm had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. During the same period in the prior year, the business posted $0.74 earnings per share. On average, equities research analysts predict that Delta Air Lines, Inc. will post 6.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 1st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Thursday, February 28th. Delta Air Lines’s dividend payout ratio is presently 24.78%.

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Delta Air Lines 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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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