626 Financial LLC Reduces Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

626 Financial LLC lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 17.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,454 shares of the transportation company’s stock after selling 2,183 shares during the period. 626 Financial LLC’s holdings in Delta Air Lines were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines in the third quarter worth approximately $25,000. Kimelman & Baird LLC bought a new position in Delta Air Lines in the 2nd quarter worth $31,000. Strategic Financial Concepts LLC purchased a new position in Delta Air Lines during the second quarter valued at $36,000. Rise Advisors LLC grew its holdings in Delta Air Lines by 122.5% during the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 452 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in Delta Air Lines in the second quarter worth about $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

NYSE:DAL opened at $52.73 on Wednesday. The firm has a market capitalization of $34.03 billion, a PE ratio of 7.59, a PEG ratio of 0.98 and a beta of 1.35. The stock’s fifty day moving average is $44.79 and its 200 day moving average is $46.97. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $54.29. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). The firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. Delta Air Lines’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 EPS. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.17 earnings per share 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. Investors of record on Thursday, October 10th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is presently 8.63%.

Analyst Ratings Changes

DAL has been the topic of a number of analyst reports. Barclays lifted their price objective on Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. raised their price target on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Susquehanna lifted their target price on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. TD Cowen dropped their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their price objective on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research report 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, the company presently has an average rating of “Buy” and a consensus target price of $65.40.

Insiders Place Their Bets

In other news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction that occurred on Friday, October 11th. The shares were 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 SEC, which is accessible through this link. 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.