Summit Global Investments Has $335,000 Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Summit Global Investments reduced its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 95.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,322 shares of the transportation company’s stock after selling 162,622 shares during the period. Summit Global Investments’ holdings in Delta Air Lines were worth $335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its holdings in Delta Air Lines by 396.6% during the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 575 shares in the last quarter. Headlands Technologies LLC bought a new stake in Delta Air Lines in the third quarter valued at $35,000. Robeco Institutional Asset Management B.V. raised its stake in Delta Air Lines by 1,302.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,318 shares of the transportation company’s stock worth $49,000 after acquiring an additional 1,224 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Delta Air Lines by 147.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,434 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 855 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Delta Air Lines during the third quarter valued at $56,000. Institutional investors own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In other news, EVP Alain Bellemare sold 24,073 shares of Delta Air Lines stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the transaction, the executive vice president now directly 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 SEC, which is available at the SEC website. In related news, President Glen W. Hauenstein sold 100,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of the firm’s 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 sale, the executive vice president now owns 141,451 shares in the company, valued at $6,911,295.86. The disclosure for this sale can be found here. Insiders have sold 174,073 shares of company stock worth $8,581,207 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Delta Air Lines Trading Up 1.0 %

DAL opened at $51.55 on Monday. The firm has a 50 day simple moving average of $45.98 and a 200 day simple moving average of $40.81. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $51.65. The company has a market cap of $32.99 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.38. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.41 and a quick ratio of 0.36.

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

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Wall Street Analyst Weigh In

DAL has been the subject of several analyst reports. StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Bank of America lifted their target price 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 increased their price target on Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Susquehanna lifted their price objective on Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research report on Tuesday, April 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $85.00 target price on shares of Delta Air Lines in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $58.29.

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.