Hartford Investment Management Co. Has $2.04 Million Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Hartford Investment Management Co. reduced its stake in Delta Air Lines, Inc. (NYSE:DAL) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,240 shares of the transportation company’s stock after selling 1,041 shares during the period. Hartford Investment Management Co.’s holdings in Delta Air Lines were worth $2,044,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. bought a new position in Delta Air Lines during the second quarter worth about $60,217,000. Russell Investments Group Ltd. raised its position in shares of Delta Air Lines by 96.1% in the 1st quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock valued at $119,057,000 after acquiring an additional 1,219,074 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Delta Air Lines by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after acquiring an additional 1,105,674 shares during the period. American Century Companies Inc. grew its holdings in Delta Air Lines by 159.8% during the second quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock valued at $27,915,000 after purchasing an additional 361,942 shares during the period. Finally, Sei Investments Co. increased its stake in Delta Air Lines by 98.5% in the second quarter. Sei Investments Co. now owns 667,373 shares of the transportation company’s stock valued at $31,660,000 after purchasing an additional 331,197 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $54.78 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The business has a 50-day moving average of $46.76 and a 200-day moving average of $47.33. The stock has a market capitalization of $35.35 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $56.48.

Delta Air Lines (NYSE:DAL) last posted 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 net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Delta Air Lines, Inc. will post 6.17 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.10%. Delta Air Lines’s payout ratio is 8.63%.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the sale, the executive vice president now owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DAL. 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. Bank of America boosted their target price on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Susquehanna increased 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. Jefferies Financial Group lifted their price objective on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Sanford C. Bernstein increased their target price on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and a consensus target price of $65.40.

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.