Concurrent Investment Advisors LLC Lowers Stake in Delta Air Lines, Inc. (NYSE:DAL)

Concurrent Investment Advisors LLC cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 18.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,786 shares of the transportation company’s stock after selling 3,027 shares during the period. Concurrent Investment Advisors LLC’s holdings in Delta Air Lines were worth $700,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DAL. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines in the 3rd quarter worth about $25,000. Kimelman & Baird LLC bought a new position in Delta Air Lines in the second quarter worth approximately $31,000. Unique Wealth Strategies LLC purchased a new position in Delta Air Lines during the 2nd quarter worth $40,000. Quarry LP bought a new stake in Delta Air Lines during the 2nd quarter valued at $41,000. Finally, Richard W. Paul & Associates LLC lifted its holdings in shares of Delta Air Lines by 68.7% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after buying an additional 357 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Up 1.0 %

Delta Air Lines stock opened at $61.05 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The stock has a market cap of $39.39 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.33. The stock has a 50-day moving average of $50.87 and a two-hundred day moving average of $48.21. Delta Air Lines, Inc. has a one year low of $33.31 and a one year high of $62.66.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 earnings per share. On average, research analysts anticipate that Delta Air Lines, Inc. will post 6.12 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Insider Buying and Selling

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Allison C. Ausband sold 7,510 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the sale, the executive vice president now owns 58,897 shares in the company, valued at approximately $3,688,130.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,710 shares of company stock worth $6,739,745 in the last 90 days. Insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

DAL has been the subject of several recent research reports. Bank of America lifted their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. Jefferies Financial Group boosted their price target on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Barclays increased their price objective on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Susquehanna boosted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. Finally, TD Cowen dropped their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $65.40.

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.