Delta Air Lines, Inc. (NYSE:DAL) Position Reduced by Venturi Wealth Management LLC

Venturi Wealth Management LLC lowered its stake in Delta Air Lines, Inc. (NYSE:DAL) by 57.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 800 shares of the transportation company’s stock after selling 1,100 shares during the period. Venturi Wealth Management LLC’s holdings in Delta Air Lines were worth $41,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Senator Investment Group LP lifted its holdings in Delta Air Lines by 90.0% during the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after buying an additional 225,000 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Delta Air Lines by 5.4% during the third quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock worth $13,644,000 after purchasing an additional 13,802 shares during the last quarter. Olstein Capital Management L.P. boosted its holdings in Delta Air Lines by 32.6% in the third quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock worth $8,888,000 after purchasing an additional 43,000 shares during the period. River Road Asset Management LLC increased its stake in Delta Air Lines by 22.8% during the third quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock valued at $6,634,000 after purchasing an additional 24,249 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Delta Air Lines by 36.0% during the third quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock worth $6,859,000 after purchasing an additional 35,792 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

DAL stock opened at $64.07 on Friday. The company has a market capitalization of $41.34 billion, a P/E ratio of 8.90, a PEG ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The company has a 50-day simple moving average of $52.62 and a 200 day simple moving average of $48.62. Delta Air Lines, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $66.25.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same period in the prior year, the company posted $2.03 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. Delta Air Lines’s dividend payout ratio (DPR) is 8.33%.

Analyst Ratings Changes

DAL has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Susquehanna raised their price target on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. The Goldman Sachs Group restated a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a research note on Friday. Finally, Jefferies Financial Group raised their target price on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $71.22.

Insider Activity at Delta Air Lines

In related news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. This represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward H. Bastian sold 68,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the completion of the transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $24,775,004.27. This trade represents a 13.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock valued at $8,044,893 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Delta Air Lines 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.