IFM Investors Pty Ltd Reduces Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

IFM Investors Pty Ltd lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 20.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,806 shares of the transportation company’s stock after selling 5,973 shares during the quarter. IFM Investors Pty Ltd’s holdings in Delta Air Lines were worth $1,209,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DAL. Senator Investment Group LP increased its stake in Delta Air Lines by 90.0% in the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after purchasing an additional 225,000 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Delta Air Lines by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock valued at $2,384,000 after buying an additional 1,362 shares in the last quarter. Norden Group LLC boosted its position in Delta Air Lines by 714.1% in the 1st quarter. Norden Group LLC now owns 112,048 shares of the transportation company’s stock valued at $5,364,000 after buying an additional 98,285 shares during the period. Inspire Investing LLC bought a new position in Delta Air Lines in the 1st quarter worth about $907,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Delta Air Lines during the first quarter worth approximately $1,309,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DAL shares. 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 research report on Wednesday, October 2nd. TD Cowen reduced their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Barclays boosted their price objective on shares of Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Susquehanna raised their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. One research 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 stock. According to MarketBeat.com, Delta Air Lines currently has a consensus rating of “Buy” and an average price target of $65.40.

Delta Air Lines Price Performance

Shares of DAL opened at $54.12 on Monday. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $56.48. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The company has a market capitalization of $34.92 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.98 and a beta of 1.35. The business’s 50-day moving average is $47.33 and its two-hundred day moving average is $47.44.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the previous year, the company earned $2.03 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. Research analysts predict that Delta Air Lines, Inc. will post 6.17 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.11%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value 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 approximately $6,739,564.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the completion of the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction dated 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 transaction, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

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.