Chevy Chase Trust Holdings LLC Sells 4,735 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 364,709 shares of the transportation company’s stock after selling 4,735 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Delta Air Lines worth $17,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in DAL. Townsquare Capital LLC grew its stake in shares of Delta Air Lines by 6.6% during the third quarter. Townsquare Capital LLC now owns 34,720 shares of the transportation company’s stock valued at $1,285,000 after purchasing an additional 2,164 shares during the last quarter. Morgan Stanley grew its stake in shares of Delta Air Lines by 8.7% during the third quarter. Morgan Stanley now owns 10,839,122 shares of the transportation company’s stock valued at $401,048,000 after purchasing an additional 865,746 shares during the last quarter. Invst LLC grew its stake in shares of Delta Air Lines by 3.9% during the third quarter. Invst LLC now owns 36,688 shares of the transportation company’s stock valued at $1,357,000 after purchasing an additional 1,364 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Delta Air Lines by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 69,047 shares of the transportation company’s stock valued at $2,555,000 after purchasing an additional 7,503 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of Delta Air Lines by 72.3% during the third quarter. EP Wealth Advisors LLC now owns 11,794 shares of the transportation company’s stock valued at $436,000 after purchasing an additional 4,947 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Insider Transactions at Delta Air Lines

In related news, President Glen W. Hauenstein sold 100,000 shares of Delta Air Lines stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the completion of the sale, the president now owns 217,584 shares of the company’s stock, valued at approximately $10,672,495.20. 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 business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the completion of the sale, the executive vice president now owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the completion of the sale, the president now directly owns 217,584 shares of the company’s stock, valued at approximately $10,672,495.20. The disclosure for this sale can be found here. Insiders have sold 178,919 shares of company stock worth $8,834,653 in the last ninety days. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Down 8.2 %

DAL traded down $3.83 during trading on Thursday, hitting $43.03. The company had a trading volume of 8,454,770 shares, compared to its average volume of 9,461,306. The company has a market capitalization of $27.77 billion, a PE ratio of 5.44, a PEG ratio of 0.69 and a beta of 1.35. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The firm’s 50-day moving average price is $50.19 and its 200 day moving average price is $45.48. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The firm had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. During the same period in the previous year, the business earned $0.25 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Delta Air Lines, Inc. will post 6.55 earnings per share for the current year.

Delta Air Lines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 1.39%. Delta Air Lines’s payout ratio is currently 5.14%.

Analyst Upgrades and Downgrades

DAL has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $85.00 price target on shares of Delta Air Lines in a research note on Thursday, April 11th. Bank of America raised their price objective on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. TD Cowen raised their price objective on shares of Delta Air Lines from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, UBS Group initiated coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They issued a “buy” rating and a $59.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $60.30.

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 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.