Main Street Financial Solutions LLC lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,457 shares of the transportation company’s stock after selling 956 shares during the period. Main Street Financial Solutions LLC’s holdings in Delta Air Lines were worth $531,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of DAL. Armstrong Advisory Group Inc. lifted its stake in shares of Delta Air Lines by 13.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock valued at $84,000 after buying an additional 200 shares in the last quarter. Oakworth Capital Inc. raised its holdings in Delta Air Lines by 16.9% during the 3rd quarter. Oakworth Capital Inc. now owns 1,412 shares of the transportation company’s stock valued at $72,000 after acquiring an additional 204 shares during the period. Total Investment Management Inc. lifted its position in shares of Delta Air Lines by 3.0% during the third quarter. Total Investment Management Inc. now owns 7,357 shares of the transportation company’s stock worth $374,000 after acquiring an additional 212 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Delta Air Lines by 4.0% in the first quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock worth $276,000 after acquiring an additional 221 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Delta Air Lines by 6.0% in the third quarter. Van ECK Associates Corp now owns 4,198 shares of the transportation company’s stock valued at $229,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.
Insider Transactions at Delta Air Lines
In other Delta Air Lines news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the sale, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total value 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 trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,240 shares of company stock worth $8,044,893. Company insiders own 0.96% of the company’s stock.
Delta Air Lines Price Performance
Delta Air Lines (NYSE:DAL – Get Free Report) last issued 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 analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 EPS. Equities analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.
Delta Air Lines Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.93%. Delta Air Lines’s payout ratio is 8.33%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on DAL shares. JPMorgan Chase & Co. increased their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Bank of America increased their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. 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 note on Tuesday, October 8th. Jefferies Financial Group increased their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Susquehanna boosted their price target 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, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $70.23.
Check Out Our Latest Research Report on DAL
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.
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