Ingalls & Snyder LLC Lowers Stake in Delta Air Lines, Inc. (NYSE:DAL)

Ingalls & Snyder LLC lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,758 shares of the transportation company’s stock after selling 1,228 shares during the quarter. Ingalls & Snyder LLC’s holdings in Delta Air Lines were worth $7,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invenomic Capital Management LP bought a new position in shares of Delta Air Lines during the 3rd quarter valued at $3,274,000. Investment Management Corp of Ontario bought a new stake in shares of Delta Air Lines during the 3rd quarter valued at about $272,000. HighVista Strategies LLC bought a new stake in shares of Delta Air Lines during the 3rd quarter valued at about $1,889,000. Coastwise Capital Group LLC boosted its stake in shares of Delta Air Lines by 16.5% during the 3rd quarter. Coastwise Capital Group LLC now owns 16,111 shares of the transportation company’s stock valued at $818,000 after purchasing an additional 2,279 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its position in Delta Air Lines by 2,742.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 31,096 shares of the transportation company’s stock valued at $1,579,000 after acquiring an additional 30,002 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Edward H. Bastian sold 68,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 439,819 shares of the company’s stock, valued at approximately $24,775,004.27. The trade was a 13.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 21,530 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock worth $8,044,893 over the last three months. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Stock Performance

NYSE DAL traded down $0.20 during trading hours on Tuesday, hitting $63.21. 740,390 shares of the company’s stock traded hands, compared to its average volume of 9,266,706. The business’s fifty day moving average price is $56.75 and its two-hundred day moving average price is $49.50. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $40.79 billion, a P/E ratio of 8.80, a P/E/G 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 $66.25.

Delta Air Lines (NYSE:DAL) last announced its earnings results 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 business had revenue of $15.68 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $2.03 earnings per share. Equities research analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. Delta Air Lines’s payout ratio is currently 8.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DAL. Bank of America lifted their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a 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. Barclays lifted their target price on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. 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, November 11th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $75.83.

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.