PNC Financial Services Group Inc. Has $4.02 Million Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

PNC Financial Services Group Inc. reduced its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 10.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,830 shares of the transportation company’s stock after selling 11,117 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Delta Air Lines were worth $4,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAL. Teacher Retirement System of Texas boosted its stake in shares of Delta Air Lines by 110.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 25,598 shares of the transportation company’s stock worth $947,000 after acquiring an additional 13,450 shares during the period. WealthPlan Investment Management LLC boosted its stake in shares of Delta Air Lines by 831.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 13,761 shares of the transportation company’s stock worth $509,000 after acquiring an additional 12,283 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Delta Air Lines by 49.4% during the 3rd quarter. Corient Private Wealth LLC now owns 479,376 shares of the transportation company’s stock worth $17,738,000 after acquiring an additional 158,477 shares during the period. NBC Securities Inc. bought a new position in shares of Delta Air Lines during the 3rd quarter worth approximately $677,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Delta Air Lines by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 962,440 shares of the transportation company’s stock worth $35,610,000 after acquiring an additional 65,922 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Alain Bellemare sold 24,073 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 approximately $6,911,295.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Delta Air Lines news, EVP Alain Bellemare sold 24,073 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $48.86, for a total value of $1,176,206.78. Following the sale, the executive vice president now owns 141,451 shares in the company, valued at approximately $6,911,295.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne D. Smith sold 4,846 shares of the company’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 in the company, valued at approximately $5,879,618.30. The disclosure for this sale can be found here. Insiders sold a total of 178,919 shares of company stock valued at $8,834,653 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DAL. Susquehanna boosted their price target on Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research note on Tuesday, April 9th. StockNews.com downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. HSBC began coverage on Delta Air Lines in a research note on Monday, May 13th. They issued a “buy” rating and a $72.80 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $85.00 price target on shares of Delta Air Lines in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and an average target price of $59.25.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $51.84 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41. Delta Air Lines, Inc. has a 52 week low of $30.60 and a 52 week high of $53.86. The stock has a market capitalization of $33.45 billion, a P/E ratio of 6.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. The stock has a fifty day moving average of $49.00 and a 200-day moving average of $42.90.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $12.51 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. Delta Air Lines’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Delta Air Lines, Inc. will post 6.66 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be issued a $0.10 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. Delta Air Lines’s payout ratio is presently 5.14%.

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.