Gilliland Jeter Wealth Management LLC Buys 7,185 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Gilliland Jeter Wealth Management LLC lifted its position in Delta Air Lines, Inc. (NYSE:DAL) by 1,251.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,759 shares of the transportation company’s stock after purchasing an additional 7,185 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Delta Air Lines were worth $394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DAL. Future Financial Wealth Managment LLC purchased a new position in Delta Air Lines during the 3rd quarter valued at about $25,000. Kimelman & Baird LLC purchased a new position in Delta Air Lines during the second quarter valued at approximately $31,000. Strategic Financial Concepts LLC bought a new position in Delta Air Lines in the second quarter worth approximately $36,000. Unique Wealth Strategies LLC purchased a new stake in Delta Air Lines during the second quarter worth $40,000. Finally, Quarry LP purchased a new stake in Delta Air Lines during the second quarter worth $41,000. Institutional investors own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

DAL has been the subject of several recent research reports. TD Cowen reduced their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Barclays boosted their target price on shares of Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group raised their price target on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein boosted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Susquehanna lifted their price target on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $65.40.

Delta Air Lines Stock Performance

Shares of DAL opened at $55.80 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The stock has a 50-day moving average of $45.81 and a two-hundred day moving average of $47.15. The stock has a market cap of $36.01 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $56.48.

Delta Air Lines (NYSE:DAL) last released its 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 36.02% and a net margin of 7.46%. The firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same period last year, the firm earned $2.03 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.17 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.08%. Delta Air Lines’s payout ratio is currently 8.63%.

Insider Buying and Selling

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 stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated 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 in the company, valued at $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the transaction, the executive vice president now owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by corporate insiders.

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.