GLOBALT Investments LLC GA Trims Holdings in Delta Air Lines, Inc. $DAL

GLOBALT Investments LLC GA decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 18.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,879 shares of the transportation company’s stock after selling 1,996 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Delta Air Lines were worth $437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cardinal Point Capital Management ULC purchased a new stake in Delta Air Lines in the 2nd quarter valued at $207,000. Bleakley Financial Group LLC raised its position in Delta Air Lines by 14.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 11,462 shares of the transportation company’s stock valued at $564,000 after purchasing an additional 1,445 shares during the last quarter. Ethic Inc. raised its position in Delta Air Lines by 14.5% in the 2nd quarter. Ethic Inc. now owns 10,376 shares of the transportation company’s stock valued at $515,000 after purchasing an additional 1,311 shares during the last quarter. Rehmann Capital Advisory Group raised its position in Delta Air Lines by 12.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 8,655 shares of the transportation company’s stock valued at $426,000 after purchasing an additional 972 shares during the last quarter. Finally, Parcion Private Wealth LLC acquired a new position in Delta Air Lines in the 2nd quarter valued at $355,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling

In related news, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total value of $858,112.50. Following the sale, the senior vice president directly owned 15,816 shares in the company, valued at $968,730. The trade was a 46.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John E. Laughter sold 23,323 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the completion of the sale, the executive vice president owned 81,109 shares in the company, valued at $5,055,523.97. This represents a 22.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,833 shares of company stock worth $2,463,585 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Delta Air Lines Stock Performance

NYSE:DAL opened at $60.93 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The stock has a market cap of $39.78 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50. The firm’s fifty day simple moving average is $59.61 and its 200-day simple moving average is $52.84.

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

Delta Air Lines Dividend Announcement

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

Wall Street Analysts Forecast Growth

DAL has been the topic of several recent research reports. TD Cowen boosted their price objective on shares of Delta Air Lines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, October 13th. The Goldman Sachs Group boosted 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. Deutsche Bank Aktiengesellschaft boosted 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. Sanford C. Bernstein boosted 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. Finally, Wolfe Research boosted their price objective on shares of Delta Air Lines from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $71.53.

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.