Oppenheimer Asset Management Inc. Boosts Stake in Delta Air Lines, Inc. (NYSE:DAL)

Oppenheimer Asset Management Inc. increased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 12.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,965 shares of the transportation company’s stock after purchasing an additional 4,447 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Delta Air Lines were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DAL. Senator Investment Group LP grew its stake in shares of Delta Air Lines by 90.0% during the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock valued at $22,534,000 after acquiring an additional 225,000 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Delta Air Lines by 5.4% during the third 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 in the last quarter. Olstein Capital Management L.P. boosted its position in shares of 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. River Road Asset Management LLC increased its stake in shares of Delta Air Lines by 22.8% in 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 in the last quarter. Finally, abrdn plc raised its position in shares of Delta Air Lines by 36.0% during the 3rd quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock valued at $6,859,000 after purchasing an additional 35,792 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DAL has been the subject of a number of analyst reports. Jefferies Financial Group increased their price target on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen boosted their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Susquehanna upped their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and an average price target of $71.22.

Insider Buying and Selling at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the sale, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at $6,739,564.86. This represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock worth $8,044,893 over the last quarter. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of NYSE:DAL opened at $64.07 on Friday. The firm has a fifty day simple moving average of $53.06 and a two-hundred day simple moving average of $48.72. Delta Air Lines, Inc. has a 52 week low of $35.28 and a 52 week high of $66.25. 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 market capitalization of $41.34 billion, a P/E ratio of 8.90, a PEG ratio of 1.23 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter in the prior year, the business posted $2.03 EPS. The company’s revenue was up 1.2% on a year-over-year basis. On average, analysts expect that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is 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.