Victory Capital Management Inc. Buys 358,082 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Victory Capital Management Inc. raised its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 28.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,595,203 shares of the transportation company's stock after buying an additional 358,082 shares during the period. Victory Capital Management Inc. owned 0.25% of Delta Air Lines worth $81,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Senator Investment Group LP increased its holdings in Delta Air Lines by 90.0% during the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company's stock worth $22,534,000 after buying an additional 225,000 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Delta Air Lines by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company's stock valued at $13,644,000 after purchasing an additional 13,802 shares during the period. Olstein Capital Management L.P. lifted its stake in Delta Air Lines by 32.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company's stock valued at $8,888,000 after purchasing an additional 43,000 shares during the last quarter. River Road Asset Management LLC grew its holdings in Delta Air Lines by 22.8% during the third quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company's stock worth $6,634,000 after purchasing an additional 24,249 shares during the period. Finally, abrdn plc increased its position in Delta Air Lines by 36.0% during the third quarter. abrdn plc now owns 135,098 shares of the transportation company's stock worth $6,859,000 after buying an additional 35,792 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DAL. 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. BNP Paribas raised shares of Delta Air Lines to a "strong-buy" rating in a research report on Thursday, September 19th. Sanford C. Bernstein upped their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group lifted their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a "buy" rating in a report on Monday. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $70.23.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Allison C. Ausband sold 7,510 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company's stock, valued at $3,688,130.14. This represents a 11.31 % decrease in their position. The sale 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 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. The trade was a 52.15 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 0.96% of the company's stock.

Delta Air Lines Price Performance

Shares of NYSE DAL traded up $0.38 during mid-day trading on Thursday, reaching $64.84. The company had a trading volume of 7,310,260 shares, compared to its average volume of 9,396,901. Delta Air Lines, Inc. has a one year low of $35.28 and a one year high of $66.25. The business's 50-day simple moving average is $52.17 and its 200 day simple moving average is $48.51. 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 $41.84 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 1.22 and a beta of 1.33.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share 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 firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period last year, the company posted $2.03 EPS. The business's revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm 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 of this dividend was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. Delta Air Lines's dividend payout ratio is currently 8.33%.

Delta Air Lines 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.