Clear Creek Financial Management LLC Reduces Position in Delta Air Lines, Inc. (NYSE:DAL)

Clear Creek Financial Management LLC lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 13.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,368 shares of the transportation company’s stock after selling 845 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Delta Air Lines were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DAL. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Delta Air Lines by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,650 shares of the transportation company’s stock worth $19,275,000 after buying an additional 6,915 shares during the last quarter. Norden Group LLC grew its stake in shares of Delta Air Lines by 1.8% in the 1st quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock valued at $670,000 after purchasing an additional 243 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Delta Air Lines in the 1st quarter valued at approximately $375,000. Fidelis Capital Partners LLC purchased a new position in shares of Delta Air Lines in the 1st quarter valued at approximately $65,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Delta Air Lines by 15.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 31,798 shares of the transportation company’s stock valued at $1,522,000 after purchasing an additional 4,337 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In related 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 transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Alain Bellemare sold 19,490 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the transaction, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,200 shares of company stock worth $6,269,469 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on DAL. JPMorgan Chase & Co. lifted their target price 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. Barclays lifted their target price 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. Sanford C. Bernstein upped their price objective on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Bank of America upped their price objective on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. One investment 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 stock. According to data from MarketBeat, Delta Air Lines currently has an average rating of “Buy” and an average target price of $65.40.

Delta Air Lines Stock Down 2.6 %

Shares of NYSE:DAL opened at $56.89 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 52-week low of $32.46 and a 52-week high of $59.19. The stock’s fifty day simple moving average is $49.33 and its 200-day simple moving average is $47.86. The company has a market capitalization of $36.71 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.08 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data 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). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter in the prior year, the company earned $2.03 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 6.12 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.05%. Delta Air Lines’s dividend payout ratio is currently 8.33%.

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.