Neo Ivy Capital Management Decreases Stake in Delta Air Lines, Inc. (NYSE:DAL)

Neo Ivy Capital Management lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 96.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,796 shares of the transportation company's stock after selling 119,780 shares during the quarter. Neo Ivy Capital Management's holdings in Delta Air Lines were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DAL. Future Financial Wealth Managment LLC purchased a new stake in shares of Delta Air Lines in the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in Delta Air Lines during the 3rd quarter worth about $31,000. Kimelman & Baird LLC purchased a new position in Delta Air Lines during the 2nd quarter valued at about $31,000. Unique Wealth Strategies LLC bought a new stake in shares of Delta Air Lines in the 2nd quarter valued at about $40,000. Finally, Quarry LP purchased a new stake in shares of Delta Air Lines in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 69.93% of the company's stock.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Alain Bellemare sold 19,490 shares of the business'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 completion of the sale, the executive vice president now owns 121,961 shares of the company's stock, valued at $6,739,564.86. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William C. Carroll sold 21,530 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now owns 19,756 shares of the company's stock, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,240 shares of company stock valued at $8,044,893. Corporate insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

DAL has been the subject of a number of analyst reports. TD Cowen upped 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, November 12th. Susquehanna raised their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a "positive" rating in a research report on Wednesday, October 9th. Citigroup boosted their target price on shares of Delta Air Lines from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $75.83.

Delta Air Lines Stock Performance

NYSE DAL traded down $0.10 on Friday, reaching $61.53. 5,834,652 shares of the company's stock traded hands, compared to its average volume of 9,217,805. Delta Air Lines, Inc. has a fifty-two week low of $36.34 and a fifty-two week high of $67.50. 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 $39.70 billion, a price-to-earnings ratio of 8.56, a P/E/G ratio of 1.21 and a beta of 1.35. The stock has a 50 day moving average price of $59.29 and a 200-day moving average price of $50.24.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. Equities research analysts predict that Delta Air Lines, Inc. will post 6.08 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company 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 0.98%. Delta Air Lines's dividend payout ratio is presently 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.