Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 22.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,397 shares of the transportation company's stock after selling 47,315 shares during the quarter. Toronto Dominion Bank's holdings in Delta Air Lines were worth $8,350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Delta Air Lines in the third quarter valued at about $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines during the 2nd quarter worth $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Delta Air Lines during the third quarter worth approximately $31,000. Strategic Financial Concepts LLC acquired a new stake in Delta Air Lines in the second quarter valued at about $36,000. Finally, Unique Wealth Strategies LLC acquired a new position in Delta Air Lines during the second quarter worth $40,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

DAL stock traded down $0.11 during midday trading on Friday, reaching $61.52. The company had a trading volume of 5,835,554 shares, compared to its average volume of 9,217,805. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The stock has a 50 day moving average price of $59.53 and a 200 day moving average price of $50.31. The firm has a market capitalization of $39.70 billion, a PE ratio of 8.54, a P/E/G ratio of 1.21 and a beta of 1.35. Delta Air Lines, Inc. has a fifty-two week low of $36.34 and a fifty-two week high of $67.50.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS 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 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 company earned $2.03 earnings per share. Delta Air Lines's quarterly revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Delta Air Lines, Inc. will post 6.08 earnings per share for the current year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 yield of 0.98%. The ex-dividend date was Thursday, October 10th. Delta Air Lines's payout ratio is 8.33%.

Analyst Ratings Changes

Several analysts have weighed in on DAL shares. JPMorgan Chase & Co. upped their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Citigroup raised their price objective on Delta Air Lines from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Delta Air Lines from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. BNP Paribas raised shares of Delta Air Lines to a "strong-buy" rating in a report on Thursday, September 19th. Finally, Sanford C. Bernstein increased 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. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $75.83.

Insiders Place Their Bets

In other news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allison C. Ausband sold 7,510 shares of the firm's stock in a transaction that occurred on 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 owns 58,897 shares in the company, valued at $3,688,130.14. This represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,240 shares of company stock worth $8,044,893. Insiders own 0.96% of the company's stock.

About Delta Air Lines

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.