Zurcher Kantonalbank Zurich Cantonalbank Has $2 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,021 shares of the transportation company’s stock after selling 3,550 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Delta Air Lines were worth $1,998,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAL. Pzena Investment Management LLC acquired a new stake in shares of Delta Air Lines in the third quarter valued at about $281,206,000. Castle Hook Partners LP acquired a new stake in shares of Delta Air Lines in the third quarter valued at about $189,296,000. Raymond James Financial Inc. acquired a new stake in shares of Delta Air Lines in the fourth quarter valued at about $64,577,000. Sanders Capital LLC grew its position in shares of Delta Air Lines by 2.8% in the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock valued at $1,414,074,000 after purchasing an additional 749,099 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Delta Air Lines by 325.7% in the fourth quarter. Retirement Systems of Alabama now owns 592,808 shares of the transportation company’s stock valued at $35,865,000 after buying an additional 453,547 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Stock Performance

NYSE DAL opened at $46.60 on Monday. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.75 and a beta of 1.34. The company has a 50 day moving average of $62.34 and a 200-day moving average of $58.08. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a 1-year low of $37.29 and a 1-year high of $69.98.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.09. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.28 earnings per share. On average, equities analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, February 27th. Delta Air Lines’s payout ratio is 11.26%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DAL shares. StockNews.com upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Susquehanna increased their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Citigroup increased their target price on shares of Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays reduced their target price on shares of Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $76.60.

Insider Transactions at Delta Air Lines

In related news, SVP William C. Carroll sold 6,783 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total value of $447,271.02. Following the completion of the sale, the senior vice president now owns 10,016 shares of the company’s stock, valued at $660,455.04. This trade represents a 40.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at approximately $30,721,357.15. This represents a 17.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,886 shares of company stock valued at $11,116,463. Corporate insiders own 0.96% of the company’s stock.

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.