Delta Air Lines, Inc. (NYSE:DAL) Shares Purchased by Grove Bank & Trust

Grove Bank & Trust lifted its position in Delta Air Lines, Inc. (NYSE:DAL) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,318 shares of the transportation company’s stock after buying an additional 641 shares during the quarter. Grove Bank & Trust’s holdings in Delta Air Lines were worth $778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC boosted its holdings in shares of Delta Air Lines by 24.7% during the first quarter. Manchester Capital Management LLC now owns 983 shares of the transportation company’s stock worth $47,000 after purchasing an additional 195 shares during the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of Delta Air Lines by 13.8% during the third quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock worth $84,000 after purchasing an additional 200 shares during the last quarter. HBK Sorce Advisory LLC raised its position in shares of Delta Air Lines by 4.0% in the 1st quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock worth $276,000 after buying an additional 221 shares during the period. Silverlake Wealth Management LLC raised its position in shares of Delta Air Lines by 2.9% in the 1st quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock worth $390,000 after buying an additional 229 shares during the period. Finally, Norden Group LLC raised its position in Delta Air Lines by 1.8% in the first quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock valued at $670,000 after purchasing an additional 243 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DAL shares. Sanford C. Bernstein raised 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. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. lifted their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. Barclays lifted their target price on Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their target price on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. One investment 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 MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $65.40.

Delta Air Lines Price Performance

NYSE:DAL traded up $1.35 during midday trading on Monday, hitting $52.68. 3,596,097 shares of the stock were exchanged, compared to its average volume of 9,462,979. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The company has a market capitalization of $34.00 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 0.98 and a beta of 1.35. The business has a 50-day moving average price of $44.19 and a two-hundred day moving average price of $46.89. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last announced its 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 36.02% and a net margin of 7.46%. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the firm earned $2.03 EPS. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.17 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. Delta Air Lines’s dividend payout ratio is currently 8.63%.

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.