Neo Ivy Capital Management Lowers Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Neo Ivy Capital Management reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 96.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,796 shares of the transportation company’s stock after selling 119,780 shares during the period. Neo Ivy Capital Management’s holdings in Delta Air Lines were worth $244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coldstream Capital Management Inc. increased its stake in shares of Delta Air Lines by 17.0% during the third quarter. Coldstream Capital Management Inc. now owns 13,224 shares of the transportation company’s stock valued at $700,000 after buying an additional 1,920 shares during the period. Geode Capital Management LLC raised its holdings in shares of Delta Air Lines by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company’s stock valued at $789,452,000 after purchasing an additional 416,338 shares in the last quarter. MidWestOne Financial Group Inc. lifted its position in shares of Delta Air Lines by 56.5% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 57,725 shares of the transportation company’s stock worth $2,932,000 after purchasing an additional 20,846 shares during the period. MML Investors Services LLC boosted its stake in shares of Delta Air Lines by 18.4% during the third quarter. MML Investors Services LLC now owns 71,389 shares of the transportation company’s stock valued at $3,626,000 after purchasing an additional 11,094 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in Delta Air Lines by 14.0% during the third quarter. Orion Portfolio Solutions LLC now owns 19,541 shares of the transportation company’s stock valued at $992,000 after buying an additional 2,401 shares during the period. 69.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DAL shares. Citigroup upped their target price on Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barclays raised their price objective on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Bank of America raised their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Sanford C. Bernstein increased their target price on shares of 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 investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $75.83.

Insider Activity at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,197,608.72. The trade was a 52.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the sale, the executive vice president now directly owns 58,897 shares in the company, valued at $3,688,130.14. This trade represents a 11.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock worth $8,044,893 over the last three months. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL opened at $61.63 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The stock has a 50-day moving average of $59.00 and a two-hundred day moving average of $50.16. The stock has a market cap of $39.77 billion, a P/E ratio of 8.82, a P/E/G ratio of 1.23 and a beta of 1.35. Delta Air Lines, Inc. has a one year low of $36.34 and a one year high of $67.50.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates 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 firm 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 EPS. Delta Air Lines’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.08 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently disclosed 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 of this dividend was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. Delta Air Lines’s payout ratio is currently 8.33%.

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.