Delta Air Lines, Inc. (NYSE:DAL) Stake Decreased by MAI Capital Management

MAI Capital Management trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 21.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,068 shares of the transportation company’s stock after selling 2,982 shares during the quarter. MAI Capital Management’s holdings in Delta Air Lines were worth $562,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DAL. Jupiter Asset Management Ltd. bought a new position in shares of Delta Air Lines in the second quarter valued at approximately $60,217,000. Dimensional Fund Advisors LP boosted its stake in Delta Air Lines by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after purchasing an additional 1,105,674 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Delta Air Lines by 419.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock valued at $28,551,000 after purchasing an additional 453,926 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Delta Air Lines by 159.8% in the 2nd quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock worth $27,915,000 after buying an additional 361,942 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Delta Air Lines by 28.9% in the third quarter. Victory Capital Management Inc. now owns 1,595,203 shares of the transportation company’s stock valued at $81,020,000 after buying an additional 358,082 shares during the period. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

Shares of DAL opened at $63.34 on Friday. The business’s 50-day moving average is $55.01 and its 200-day moving average is $49.15. 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 company has a market capitalization of $40.87 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 1.23 and a beta of 1.33. Delta Air Lines, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $66.25.

Delta Air Lines (NYSE:DAL) last released 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). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company 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 company posted $2.03 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.33%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DAL. JPMorgan Chase & Co. lifted their target price 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 lifted their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Jefferies Financial Group increased their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays upped their price target on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Susquehanna raised their price objective on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. One research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $72.75.

Insider Transactions at Delta Air Lines

In related news, SVP William C. Carroll sold 21,530 shares of the firm’s 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 transaction, the senior vice president now owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward H. Bastian sold 68,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $24,775,004.27. This trade represents a 13.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock valued at $8,044,893 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Profile

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.