Meeder Asset Management Inc. cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 30.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,861 shares of the transportation company's stock after selling 30,965 shares during the period. Meeder Asset Management Inc.'s holdings in Delta Air Lines were worth $3,650,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Huntington National Bank grew its position in Delta Air Lines by 2.9% during the third quarter. Huntington National Bank now owns 6,679 shares of the transportation company's stock valued at $339,000 after acquiring an additional 189 shares during the period. Armstrong Advisory Group Inc. grew its holdings in shares of Delta Air Lines by 13.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company's stock worth $84,000 after purchasing an additional 200 shares during the period. Oakworth Capital Inc. increased its position in Delta Air Lines by 16.9% during the 3rd quarter. Oakworth Capital Inc. now owns 1,412 shares of the transportation company's stock worth $72,000 after purchasing an additional 204 shares in the last quarter. Total Investment Management Inc. raised its holdings in Delta Air Lines by 3.0% in the third quarter. Total Investment Management Inc. now owns 7,357 shares of the transportation company's stock valued at $374,000 after buying an additional 212 shares during the period. Finally, Van ECK Associates Corp lifted its position in Delta Air Lines by 6.0% during the third quarter. Van ECK Associates Corp now owns 4,198 shares of the transportation company's stock valued at $229,000 after buying an additional 239 shares in the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Delta Air Lines
In related news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the sale, the senior vice president now directly owns 19,756 shares in the company, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total transaction of $470,276.20. Following the transaction, the executive vice president now directly owns 58,897 shares of the company's stock, valued at $3,688,130.14. The trade was a 11.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,240 shares of company stock worth $8,044,893. 0.96% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. Barclays boosted their price objective on Delta Air Lines from $60.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. BNP Paribas upgraded Delta Air Lines to a "strong-buy" rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Finally, Susquehanna increased their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a "positive" rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $71.22.
Get Our Latest Analysis on DAL
Delta Air Lines Stock Performance
Shares of Delta Air Lines stock traded up $0.67 during trading hours on Tuesday, reaching $63.91. The company's stock had a trading volume of 4,174,311 shares, compared to its average volume of 9,363,293. Delta Air Lines, Inc. has a one year low of $35.46 and a one year high of $66.25. The company's 50 day simple moving average is $53.45 and its 200 day simple moving average is $48.78. 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 stock has a market cap of $41.24 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33.
Delta Air Lines (NYSE:DAL - Get Free Report) last issued its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.03 EPS. As a group, analysts expect that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.
Delta Air Lines Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. Delta Air Lines's payout ratio is currently 8.33%.
About Delta Air Lines
(
Free Report)
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.
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