Lansdowne Partners UK LLP has decreased its holdings in Delta Air Lines, Inc. (NYSE: DAL) by 23.3% during the second quarter of 2023. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission, Lansdowne now owns 1,553,889 shares of Delta after selling 471,110 shares in this period. This reduction means that Delta Air Lines constitutes 9.9% of Lansdowne’s portfolio, making it the fund’s third largest investment, valued at approximately $76.42 million.
Several other institutional investors have also adjusted their positions in Delta Air Lines recently. Kingstone Capital Partners Texas LLC purchased a new stake valued at $386.36 million during the second quarter. AQR Capital Management LLC increased its holdings by 149.9% in the first quarter, acquiring an additional 3,577,489 shares, bringing its total to 5,963,882 shares worth about $246.49 million. Similarly, Ameriprise Financial Inc. expanded its stake by 347.4% in the same quarter, now holding 4,232,974 shares valued at $184.91 million.
Delta Air Lines Stock Performance and Dividend Announcement
As of Monday, Delta Air Lines shares opened at $67.20. The company has experienced a 52-week low of $34.74 and a high of $69.98. Key financial metrics include a quick ratio of 0.34, a current ratio of 0.40, and a debt-to-equity ratio of 0.68. Delta Air Lines has a market capitalization of approximately $43.88 billion and a price-to-earnings ratio of 9.46.
Recently, Delta Air Lines declared a quarterly dividend of $0.1875 per share, which was paid to shareholders of record on October 16. This dividend represents an annualized rate of $0.75, yielding 1.1%. The ex-dividend date for this payment was also set for October 16, and the company currently maintains a payout ratio of 10.56%.
Insider Transactions and Analyst Ratings
Recent insider trading activities have also attracted attention. Executive Vice President John E. Laughter sold 23,323 shares on October 21 at an average price of $62.33, totaling approximately $1.45 million. Following this transaction, Laughter holds 81,109 shares valued at about $5.06 million, reflecting a 22.33% decrease in his position. Additionally, Senior Vice President William C. Carroll sold 14,010 shares on October 15 for approximately $858,113, which represents a significant reduction in his stakes.
Wall Street analysts have offered various perspectives on Delta Air Lines. Cowen has maintained a “buy” rating for the airline’s stock. Deutsche Bank raised its price target from $63.00 to $72.00, also rating it a “buy.” Jefferies Financial Group adjusted its price target downward from $74.00 to $72.00, while JPMorgan Chase & Co. raised its target from $72.00 to $85.00 with an “overweight” rating. As of now, one analyst has assigned a “Strong Buy” rating, while twenty-one others have designated it as a “Buy,” with a consensus target price of approximately $72.37.
Delta Air Lines continues to operate as a major player in the aviation sector, providing scheduled air transportation for both passengers and cargo worldwide. The company’s extensive domestic and international networks include critical hubs in cities such as Atlanta, New York, and London.
For those interested in tracking Delta Air Lines and related investments, updated financial information and insider trading details are available through various financial news outlets.
