Creative Planning Has $6.93 Million Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Creative Planning reduced its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 17.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 136,471 shares of the transportation company’s stock after selling 29,003 shares during the period. Creative Planning’s holdings in Delta Air Lines were worth $6,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new stake in shares of Delta Air Lines in the third quarter worth $25,000. Kimelman & Baird LLC bought a new stake in shares of Delta Air Lines in the 2nd quarter valued at about $31,000. Strategic Financial Concepts LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $36,000. Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines during the second quarter worth about $40,000. Finally, Quarry LP acquired a new position in shares of Delta Air Lines in the second quarter worth approximately $41,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the firm’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 transaction, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the transaction, the executive vice president now owns 121,961 shares of the company’s stock, valued at $6,739,564.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $50.46, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on DAL. 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. TD Cowen decreased their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Barclays boosted their target price on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. increased their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Susquehanna boosted their price objective 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. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $65.40.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $54.65 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The firm has a fifty day simple moving average of $46.76 and a two-hundred day simple moving average of $47.33. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $56.48. The firm has a market capitalization of $35.27 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35.

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 return on equity of 36.02% and a net margin of 7.46%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Analysts forecast that Delta Air Lines, Inc. will post 6.17 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.10%. Delta Air Lines’s payout ratio is 8.63%.

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.