PNC Financial Services Group Inc. Cuts Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

PNC Financial Services Group Inc. lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 10.0% in the 4th quarter, Holdings Channel reports. The firm owned 99,830 shares of the transportation company’s stock after selling 11,117 shares during the period. PNC Financial Services Group Inc.’s holdings in Delta Air Lines were worth $4,016,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DAL. QRG Capital Management Inc. bought a new stake in Delta Air Lines in the 3rd quarter worth approximately $855,000. Envestnet Portfolio Solutions Inc. bought a new stake in Delta Air Lines in the third quarter worth $1,536,000. Invesco Ltd. raised its stake in Delta Air Lines by 27.0% during the third quarter. Invesco Ltd. now owns 4,813,848 shares of the transportation company’s stock valued at $178,112,000 after purchasing an additional 1,022,957 shares in the last quarter. CI Investments Inc. lifted its position in Delta Air Lines by 220.4% during the third quarter. CI Investments Inc. now owns 5,716 shares of the transportation company’s stock valued at $211,000 after purchasing an additional 3,932 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in shares of Delta Air Lines in the 3rd quarter worth $411,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 24,073 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total value of $1,176,206.78. Following the completion of the transaction, the executive vice president now owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Delta Air Lines news, EVP Joanne D. Smith sold 4,846 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the sale, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at $5,879,618.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alain Bellemare sold 24,073 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the completion of the transaction, the executive vice president now directly owns 141,451 shares in the company, valued at approximately $6,911,295.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,919 shares of company stock valued at $8,834,653. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DAL. Bank of America increased their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 11th. StockNews.com lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Susquehanna lifted their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. Citigroup boosted their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, HSBC initiated coverage on shares of Delta Air Lines in a report on Monday, May 13th. They issued a “buy” rating and a $72.80 target price for the company. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and an average price target of $59.85.

Delta Air Lines Stock Down 0.3 %

Shares of NYSE:DAL opened at $49.58 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The business’s 50 day moving average is $50.42 and its 200 day moving average is $44.73. The stock has a market cap of $31.99 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $53.86.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $12.51 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.61 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.81%. Delta Air Lines’s dividend payout ratio is currently 5.14%.

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.