Ritholtz Wealth Management Lowers Position in Delta Air Lines, Inc. (NYSE:DAL)

Ritholtz Wealth Management cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,078 shares of the transportation company’s stock after selling 580 shares during the quarter. Ritholtz Wealth Management’s holdings in Delta Air Lines were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Delta Air Lines during the third quarter valued at approximately $25,000. Kimelman & Baird LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at approximately $31,000. Strategic Financial Concepts LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at approximately $36,000. Rise Advisors LLC increased its position in shares of Delta Air Lines by 122.5% during the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 452 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at approximately $40,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DAL has been the subject of a number of research analyst reports. Susquehanna increased their price target on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. Bank of America increased their price target on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Barclays raised their target price on Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. TD Cowen decreased their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $65.40.

Delta Air Lines Trading Up 6.8 %

Shares of DAL opened at $56.30 on Thursday. The business’s 50-day moving average price is $45.17 and its 200-day moving average price is $47.03. Delta Air Lines, Inc. has a twelve month low of $30.60 and a twelve month high of $56.48. The stock has a market cap of $36.33 billion, a PE ratio of 8.10, a P/E/G ratio of 0.98 and a beta of 1.35. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter in the prior year, the company earned $2.03 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that Delta Air Lines, Inc. will post 6.17 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

Insider Buying and Selling

In related news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is owned by company insiders.

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.