Hodges Capital Management Inc. Lowers Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Hodges Capital Management Inc. lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 88.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,713 shares of the transportation company's stock after selling 69,925 shares during the period. Hodges Capital Management Inc.'s holdings in Delta Air Lines were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DAL. Future Financial Wealth Managment LLC purchased a new stake in Delta Air Lines during the 3rd quarter worth about $25,000. Kimelman & Baird LLC purchased a new stake in Delta Air Lines during the 2nd quarter worth about $31,000. Ashton Thomas Securities LLC purchased a new stake in Delta Air Lines during the 3rd quarter worth about $31,000. Strategic Financial Concepts LLC purchased a new stake in Delta Air Lines during the 2nd quarter worth about $36,000. Finally, Unique Wealth Strategies LLC purchased a new stake in Delta Air Lines during the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Insider Buying and Selling

In other Delta Air Lines news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the sale, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 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 trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock worth $8,044,893 in the last ninety days. 0.96% of the stock is owned by insiders.

Delta Air Lines Trading Down 3.5 %

DAL traded down $2.26 on Monday, hitting $62.27. 6,329,649 shares of the company were exchanged, compared to its average volume of 9,256,651. The firm has a fifty day simple moving average of $58.45 and a two-hundred day simple moving average of $49.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. Delta Air Lines, Inc. has a 12 month low of $36.34 and a 12 month high of $67.50. The stock has a market capitalization of $40.18 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly 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 29.93% and a net margin of 7.71%. 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 previous year, the business earned $2.03 earnings per share. Delta Air Lines's revenue was up 1.2% compared to the same quarter last year. Sell-side analysts expect that Delta Air Lines, Inc. will post 6.08 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.96%. Delta Air Lines's payout ratio is 8.33%.

Analyst Ratings Changes

A number of brokerages recently issued reports on DAL. JPMorgan Chase & Co. increased their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. BNP Paribas raised Delta Air Lines to a "strong-buy" rating in a report on Thursday, September 19th. Bank of America raised their price target on Delta Air Lines from $55.00 to $60.00 and gave the company a "buy" rating in a report on Friday, October 11th. Sanford C. Bernstein raised their price target on Delta Air Lines from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Finally, TD Cowen raised their price target on Delta Air Lines from $59.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $75.83.

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.