M&T Bank Corp Decreases Stake in Delta Air Lines, Inc. (NYSE:DAL)

M&T Bank Corp lowered its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 17.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,213 shares of the transportation company's stock after selling 12,481 shares during the quarter. M&T Bank Corp's holdings in Delta Air Lines were worth $2,906,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pzena Investment Management LLC purchased a new position in shares of Delta Air Lines during the 3rd quarter valued at approximately $281,206,000. Castle Hook Partners LP purchased a new position in Delta Air Lines during the third quarter valued at $189,296,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $60,217,000. Dimensional Fund Advisors LP increased its stake in shares of Delta Air Lines by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company's stock worth $471,330,000 after purchasing an additional 1,105,674 shares in the last quarter. Finally, Sanders Capital LLC raised its position in shares of Delta Air Lines by 2.8% during the 3rd quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company's stock worth $1,414,074,000 after purchasing an additional 749,099 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the transaction, the executive vice president now owns 58,897 shares in the company, valued at approximately $3,688,130.14. The trade was a 11.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,305,148.60. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock worth $8,044,893 over the last ninety days. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on DAL. TD Cowen lifted their price objective on Delta Air Lines from $59.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Susquehanna boosted their price target on Delta Air Lines from $50.00 to $59.00 and gave the stock a "positive" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Delta Air Lines from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $83.00 target price on shares of Delta Air Lines in a research note on Friday, November 15th. Finally, Jefferies Financial Group increased their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a "buy" rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $75.83.

Delta Air Lines Trading Down 0.2 %

Shares of DAL stock traded down $0.11 during trading on Friday, hitting $61.52. 5,835,554 shares of the stock traded hands, compared to its average volume of 9,217,805. The firm has a market capitalization of $39.70 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35. Delta Air Lines, Inc. has a 52-week low of $36.34 and a 52-week high of $67.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The firm's fifty day moving average price is $59.53 and its 200-day moving average price is $50.30.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 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 analysts' expectations of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 EPS. As a group, research analysts forecast that Delta Air Lines, Inc. will post 6.08 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.98%. Delta Air Lines's payout ratio is currently 8.33%.

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.