Easterly Investment Partners LLC Has $2.58 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

Easterly Investment Partners LLC cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,755 shares of the transportation company’s stock after selling 210 shares during the quarter. Easterly Investment Partners LLC’s holdings in Delta Air Lines were worth $2,578,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Delta Air Lines in the 3rd quarter valued at about $170,000. AIA Group Ltd grew its holdings in Delta Air Lines by 3.1% during the 3rd quarter. AIA Group Ltd now owns 108,056 shares of the transportation company’s stock worth $5,488,000 after acquiring an additional 3,212 shares during the period. Olstein Capital Management L.P. grew its holdings in Delta Air Lines by 32.6% in the third quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock worth $8,888,000 after purchasing an additional 43,000 shares during the period. Principal Financial Group Inc. lifted its stake in Delta Air Lines by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 742,773 shares of the transportation company’s stock valued at $37,725,000 after acquiring an additional 19,124 shares in the last quarter. Finally, Woodmont Investment Counsel LLC grew its position in Delta Air Lines by 1.1% during the third quarter. Woodmont Investment Counsel LLC now owns 41,598 shares of the transportation company’s stock valued at $2,113,000 after buying an additional 437 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Stock Up 1.6 %

Shares of Delta Air Lines stock traded up $0.99 during trading on Friday, hitting $61.42. 1,475,543 shares of the stock were exchanged, compared to its average volume of 9,414,841. Delta Air Lines, Inc. has a 12-month low of $33.31 and a 12-month high of $62.66. The stock has a market cap of $39.63 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.07 and a beta of 1.33. 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 50-day moving average price is $50.12 and its 200 day moving average price is $48.04.

Delta Air Lines (NYSE:DAL) last released 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). The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. As a group, analysts forecast that Delta Air Lines, Inc. will post 6.12 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business 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. This represents a $0.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Upgrades and Downgrades

DAL has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. increased their target price 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. TD Cowen cut their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein lifted their price objective 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, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $65.40.

Insiders Place Their Bets

In related news, CEO Edward H. Bastian sold 68,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the completion of the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $24,775,004.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Delta Air Lines news, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at approximately $24,775,004.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction 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 transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,710 shares of company stock worth $6,739,745 in the last three months. 0.96% of the stock is owned by insiders.

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.