Signature Estate & Investment Advisors LLC Cuts Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Signature Estate & Investment Advisors LLC cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 23.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,958 shares of the transportation company's stock after selling 15,517 shares during the quarter. Signature Estate & Investment Advisors LLC's holdings in Delta Air Lines were worth $2,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sei Investments Co. grew its holdings in shares of Delta Air Lines by 11.1% during the 1st quarter. Sei Investments Co. now owns 336,176 shares of the transportation company's stock valued at $16,093,000 after purchasing an additional 33,646 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Delta Air Lines by 18.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 499,689 shares of the transportation company's stock worth $23,920,000 after buying an additional 76,594 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Delta Air Lines by 73.4% during the first quarter. First Eagle Investment Management LLC now owns 8,952 shares of the transportation company's stock valued at $429,000 after acquiring an additional 3,788 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Delta Air Lines by 4.0% in the first quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company's stock worth $276,000 after purchasing an additional 221 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in Delta Air Lines by 4.9% in the first quarter. Orion Portfolio Solutions LLC now owns 24,781 shares of the transportation company's stock valued at $1,186,000 after purchasing an additional 1,161 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on DAL shares. JPMorgan Chase & Co. raised their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Sanford C. Bernstein raised their target price on Delta Air Lines from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. BNP Paribas upgraded Delta Air Lines to a "strong-buy" rating in a report on Thursday, September 19th. TD Cowen increased their target price on Delta Air Lines from $59.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, The Goldman Sachs Group restated a "buy" rating and set a $83.00 price objective on shares of Delta Air Lines in a report on Friday. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $71.22.

Insider Buying and Selling

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the firm'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 transaction of $173,128.26. Following the completion of the transaction, the executive vice president now owns 108,990 shares of the company's stock, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alain Bellemare sold 19,490 shares of the firm's stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the sale, the executive vice president now owns 121,961 shares of the company's stock, valued at approximately $6,739,564.86. This represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock valued at $8,044,893 over the last three months. 0.96% of the stock is owned by company insiders.

Delta Air Lines Price Performance

Delta Air Lines stock traded down $0.78 during midday trading on Friday, reaching $64.07. 9,803,567 shares of the stock were exchanged, compared to its average volume of 9,398,935. Delta Air Lines, Inc. has a 52 week low of $35.28 and a 52 week high of $66.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The firm has a market cap of $41.34 billion, a PE ratio of 9.01, a PEG ratio of 1.23 and a beta of 1.33. The company's fifty day moving average is $52.62 and its 200-day moving average is $48.62.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its 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 business 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 company earned $2.03 earnings per share. Delta Air Lines's revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

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

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.