Moors & Cabot Inc. Has $595,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Moors & Cabot Inc. cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,706 shares of the transportation company’s stock after selling 504 shares during the quarter. Moors & Cabot Inc.’s holdings in Delta Air Lines were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Delta Air Lines in the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in Delta Air Lines in the third quarter worth approximately $31,000. Kimelman & Baird LLC bought a new position in Delta Air Lines during the second quarter valued at approximately $31,000. Unique Wealth Strategies LLC acquired a new stake in Delta Air Lines in the second quarter valued at approximately $40,000. Finally, Quarry LP bought a new stake in Delta Air Lines in the second quarter worth approximately $41,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAL. The Goldman Sachs Group restated a “buy” rating and set a $83.00 price target on shares of Delta Air Lines in a report on Friday, November 15th. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Bank of America increased their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. Barclays boosted their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $72.75.

Delta Air Lines Price Performance

DAL stock opened at $63.34 on Friday. Delta Air Lines, Inc. has a twelve month low of $35.46 and a twelve month 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 company has a market cap of $40.87 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The business’s 50-day simple moving average is $55.01 and its 200 day simple moving average is $49.15.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). The firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.03 EPS. On average, research analysts anticipate that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Insider Activity

In related news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 3.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total value of $470,276.20. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,240 shares of company stock worth $8,044,893. Corporate insiders own 0.96% of the company’s stock.

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.