Freedom Investment Management Inc. Sells 1,694 Shares of Delta Air Lines, Inc. $DAL

Freedom Investment Management Inc. cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 23.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,521 shares of the transportation company’s stock after selling 1,694 shares during the quarter. Freedom Investment Management Inc.’s holdings in Delta Air Lines were worth $272,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DAL. Signature Resources Capital Management LLC bought a new position in shares of Delta Air Lines during the second quarter worth approximately $25,000. Activest Wealth Management increased its stake in Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 593 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in Delta Air Lines in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT bought a new position in Delta Air Lines in the first quarter valued at approximately $33,000. Finally, Hara Capital LLC bought a new position in Delta Air Lines in the first quarter valued at approximately $35,000. 69.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Delta Air Lines from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Susquehanna lifted their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Delta Air Lines in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Delta Air Lines from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $71.53.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $60.45 on Tuesday. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.40 and a quick ratio of 0.34. The firm has a market capitalization of $39.47 billion, a P/E ratio of 8.51, a P/E/G ratio of 1.40 and a beta of 1.50. The company’s 50 day moving average price is $59.60 and its two-hundred day moving average price is $53.13.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 EPS for the quarter. The company had revenue of $8.40 billion for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. On average, equities analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 16th. Delta Air Lines’s payout ratio is 10.56%.

Insider Transactions at Delta Air Lines

In related news, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the transaction, the senior vice president owned 15,816 shares in the company, valued at $968,730. The trade was a 46.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the transaction, the director owned 33,245 shares in the company, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,833 shares of company stock worth $2,463,585. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Company 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.