Wahed Invest LLC Raises Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Wahed Invest LLC boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 10.6% in the third quarter, HoldingsChannel reports. The firm owned 3,924 shares of the transportation company’s stock after purchasing an additional 376 shares during the period. Wahed Invest LLC’s holdings in Delta Air Lines were worth $199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in Delta Air Lines in the third quarter valued at about $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines during the second quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in Delta Air Lines during the third quarter valued at approximately $31,000. Strategic Financial Concepts LLC acquired a new stake in Delta Air Lines during the second quarter valued at approximately $36,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Delta Air Lines during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Down 1.9 %

DAL opened at $64.53 on Friday. Delta Air Lines, Inc. has a 12 month low of $36.34 and a 12 month high of $67.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The stock has a market cap of $41.64 billion, a P/E ratio of 8.96, a P/E/G ratio of 1.22 and a beta of 1.35. The stock’s 50 day moving average price is $58.22 and its 200 day moving average price is $49.92.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 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 business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays upped their price objective on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group increased their price target on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Susquehanna increased their price target on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and a consensus price target of $75.83.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction 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 directly owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 21,530 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. The trade was a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 company 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.