Hourglass Capital LLC Purchases 48,225 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Hourglass Capital LLC boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 42.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 160,625 shares of the transportation company’s stock after acquiring an additional 48,225 shares during the quarter. Delta Air Lines comprises 2.3% of Hourglass Capital LLC’s holdings, making the stock its 8th biggest position. Hourglass Capital LLC’s holdings in Delta Air Lines were worth $8,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Delta Air Lines in the 3rd quarter valued at approximately $25,000. Kimelman & Baird LLC purchased a new position in shares of Delta Air Lines in the 2nd quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Delta Air Lines in the 3rd quarter valued at approximately $31,000. Strategic Financial Concepts LLC purchased a new position in shares of Delta Air Lines in the 2nd quarter valued at approximately $36,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Delta Air Lines in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In related news, EVP Allison C. Ausband sold 7,510 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 58,897 shares in the company, valued at approximately $3,688,130.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the sale, the executive vice president now directly owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,240 shares of company stock worth $8,044,893. 0.96% of the stock is currently owned by insiders.

Delta Air Lines Stock Up 0.6 %

DAL opened at $64.46 on Thursday. The business’s fifty day moving average is $51.72 and its two-hundred day moving average is $48.40. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.22 and a beta of 1.33. Delta Air Lines, Inc. has a one year low of $34.87 and a one year high of $65.74.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $14.65 billion. During the same period last year, the firm earned $2.03 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.93%. Delta Air Lines’s payout ratio is currently 8.33%.

Analysts Set New Price Targets

Several research analysts have weighed in on DAL shares. TD Cowen lifted their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays lifted their price target on Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group lifted their price target on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $67.73.

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.