New Millennium Group LLC Grows Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

New Millennium Group LLC lifted its position in Delta Air Lines, Inc. (NYSE:DAL) by 314.0% in the third quarter, Holdings Channel.com reports. The firm owned 36,460 shares of the transportation company’s stock after purchasing an additional 27,654 shares during the quarter. Delta Air Lines makes up 1.2% of New Millennium Group LLC’s holdings, making the stock its 21st biggest holding. New Millennium Group LLC’s holdings in Delta Air Lines were worth $1,852,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in Delta Air Lines in the 3rd quarter worth approximately $25,000. Kimelman & Baird LLC purchased a new position in shares of Delta Air Lines during the second quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Delta Air Lines in the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC purchased a new stake in shares of Delta Air Lines in the 2nd quarter valued at $36,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines during the 2nd quarter valued at $40,000. 69.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 121,961 shares in the company, valued at approximately $6,739,564.86. This represents a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock worth $8,044,893 in the last three months. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Trading Down 2.7 %

NYSE:DAL opened at $61.52 on Tuesday. Delta Air Lines, Inc. has a 12 month low of $35.46 and a 12 month high of $66.25. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $53.45 and a 200-day moving average price of $48.78. The stock has a market cap of $39.70 billion, a price-to-earnings ratio of 8.78, a P/E/G ratio of 1.22 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. Equities analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is presently 8.33%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a research note on Friday. Susquehanna boosted 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. Sanford C. Bernstein raised their price target on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lifted their price target on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen increased their price objective on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $71.22.

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.