Harvest Portfolios Group Inc. Decreases Stake in Delta Air Lines, Inc. (NYSE:DAL)

Harvest Portfolios Group Inc. decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 134,641 shares of the transportation company’s stock after selling 7,093 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Delta Air Lines were worth $6,838,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new stake in Delta Air Lines in the second quarter valued at $60,217,000. Russell Investments Group Ltd. increased its holdings in Delta Air Lines by 96.1% during the 1st quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock valued at $119,057,000 after acquiring an additional 1,219,074 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Delta Air Lines by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after purchasing an additional 1,105,674 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Delta Air Lines by 419.5% in the third quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock valued at $28,551,000 after acquiring an additional 453,926 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Delta Air Lines by 159.8% during the 2nd quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock worth $27,915,000 after purchasing an additional 361,942 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

DAL stock opened at $60.60 on Wednesday. The firm has a market cap of $39.10 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 1.10 and a beta of 1.33. The stock has a 50-day simple moving average of $49.68 and a 200-day simple moving average of $47.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. Delta Air Lines, Inc. has a 1 year low of $32.61 and a 1 year high of $60.60.

Delta Air Lines (NYSE:DAL) last posted 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). The business had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 earnings per share. On average, equities analysts predict 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Analysts Set New Price Targets

A number of brokerages have recently commented on DAL. Jefferies Financial Group lifted their price objective on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Susquehanna lifted their price target on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 9th. Bank of America increased their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Sanford C. Bernstein boosted their price target on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One equities research 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $65.40.

Insider Buying and Selling

In other Delta Air Lines news, EVP Steven M. Sear sold 10,279 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $58.72, for a total transaction of $603,582.88. Following the sale, the executive vice president now owns 78,459 shares in the company, valued at $4,607,112.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Rahul D. Samant sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $58.53, for a total transaction of $585,300.00. Following the sale, the executive vice president now directly owns 64,163 shares in the company, valued at approximately $3,755,460.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven M. Sear sold 10,279 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $58.72, for a total value of $603,582.88. Following the completion of the sale, the executive vice president now owns 78,459 shares in the company, valued at $4,607,112.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,200 shares of company stock worth $6,269,469. Corporate insiders own 0.96% of the company’s stock.

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.