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

Ingalls & Snyder LLC lessened its stake in Delta Air Lines, Inc. (NYSE:DAL) by 0.8% during the 3rd quarter, Holdings Channel.com reports. 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 reporting period.

Other hedge funds have also recently modified their holdings of the company. Invenomic Capital Management LP purchased a new stake in Delta Air Lines during the third quarter valued at $3,274,000. Investment Management Corp of Ontario purchased a new stake in Delta Air Lines during the third quarter valued at $272,000. HighVista Strategies LLC purchased a new stake in Delta Air Lines during the third quarter valued at $1,889,000. Coastwise Capital Group LLC raised its stake in Delta Air Lines by 16.5% during the third 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. raised its stake in Delta Air Lines by 2,742.4% during the third quarter. Benjamin Edwards Inc. now owns 31,096 shares of the transportation company’s stock valued at $1,579,000 after purchasing an additional 30,002 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DAL shares. JPMorgan Chase & Co. upped their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. TD Cowen upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $83.00 price target on shares of Delta Air Lines in a research note on Friday, November 15th. Sanford C. Bernstein boosted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Susquehanna boosted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. One equities research 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 company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $75.83.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This represents a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction 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 approximately $6,739,564.86. The trade was a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock worth $8,044,893 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 0.3 %

Shares of NYSE DAL traded down $0.20 during mid-day trading on Tuesday, reaching $63.21. The company had a trading volume of 740,390 shares, compared to its average volume of 9,266,706. The business’s 50-day moving average is $56.75 and its 200-day moving average 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 stock has a market cap of $40.79 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth 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 posted its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS 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 the consensus estimate of $14.65 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts expect 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Delta Air Lines 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.