Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by CX Institutional

CX Institutional reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,689 shares of the transportation company’s stock after selling 1,033 shares during the period. CX Institutional’s holdings in Delta Air Lines were worth $238,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DAL. Grove Bank & Trust grew its stake in Delta Air Lines by 4.4% during the 3rd quarter. Grove Bank & Trust now owns 15,318 shares of the transportation company’s stock valued at $778,000 after purchasing an additional 641 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Delta Air Lines by 42.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,789 shares of the transportation company’s stock valued at $193,000 after buying an additional 1,135 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Delta Air Lines by 9.1% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 210,416 shares of the transportation company’s stock worth $10,687,000 after buying an additional 17,557 shares in the last quarter. Armstrong Advisory Group Inc. increased its stake in shares of Delta Air Lines by 13.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock worth $84,000 after buying an additional 200 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in Delta Air Lines by 51.0% in the third quarter. Sound Income Strategies LLC now owns 1,697 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 573 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $5,499,635.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Cowen lowered their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Sanford C. Bernstein boosted their price objective on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group increased their target price on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Delta Air Lines has a consensus rating of “Buy” and an average target price of $65.40.

Delta Air Lines Stock Performance

NYSE:DAL opened at $55.26 on Friday. 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, Inc. has a twelve month low of $30.60 and a twelve month high of $56.48. The firm has a market capitalization of $35.66 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. The stock’s 50-day simple moving average is $45.48 and its 200 day simple moving average is $47.09.

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 36.02% and a net margin of 7.46%. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the previous year, the business posted $2.03 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. On average, analysts anticipate 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. Shareholders of record on Thursday, October 10th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is 8.63%.

Delta Air Lines Company 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.