Raymond James Trust N.A. Cuts Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Raymond James Trust N.A. lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 3.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,875 shares of the transportation company’s stock after selling 469 shares during the period. Raymond James Trust N.A.’s holdings in Delta Air Lines were worth $603,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in shares of Delta Air Lines by 8.5% in the 1st quarter. Advisors Asset Management Inc. now owns 29,348 shares of the transportation company’s stock worth $1,405,000 after buying an additional 2,311 shares during the last quarter. BOKF NA increased its stake in Delta Air Lines by 66.7% during the first quarter. BOKF NA now owns 2,274 shares of the transportation company’s stock worth $110,000 after acquiring an additional 910 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Delta Air Lines by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 872,836 shares of the transportation company’s stock valued at $41,784,000 after purchasing an additional 8,797 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Delta Air Lines by 5.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 44,144 shares of the transportation company’s stock valued at $2,113,000 after purchasing an additional 2,301 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Delta Air Lines by 121.5% in the 1st quarter. iA Global Asset Management Inc. now owns 34,385 shares of the transportation company’s stock worth $1,646,000 after purchasing an additional 18,863 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Up 1.8 %

NYSE:DAL opened at $64.48 on Tuesday. 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 firm has a market cap of $41.61 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33. The company has a 50-day moving average of $55.40 and a 200 day moving average of $49.19. Delta Air Lines, Inc. has a 1-year low of $35.46 and a 1-year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.03 earnings per share. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DAL shares. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Bank of America upped 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. TD Cowen raised their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Barclays upped their target price 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. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $72.75.

Insider Activity at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the sale, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock valued at $8,044,893 over the last quarter. 0.96% of the stock is owned by corporate insiders.

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.