Patrick M Sweeney & Associates Inc. Has $306,000 Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Patrick M Sweeney & Associates Inc. grew its stake in Delta Air Lines, Inc. (NYSE:DAL) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,022 shares of the transportation company’s stock after purchasing an additional 250 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in Delta Air Lines were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Future Financial Wealth Managment LLC bought a new stake in Delta Air Lines in the third quarter valued at about $25,000. Kimelman & Baird LLC acquired a new stake in shares of Delta Air Lines in the 2nd quarter valued at approximately $31,000. Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines in the 2nd quarter valued at approximately $40,000. Quarry LP bought a new position in Delta Air Lines during the 2nd quarter worth approximately $41,000. Finally, Richard W. Paul & Associates LLC grew its holdings in Delta Air Lines by 68.7% during the second quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 357 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Stock Performance

Shares of DAL opened at $54.65 on Thursday. The stock has a market capitalization of $35.27 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $56.48. The firm has a fifty day simple moving average of $46.76 and a 200 day simple moving average of $47.33. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 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 analyst estimates of $14.65 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.03 earnings per share. Research analysts forecast that Delta Air Lines, Inc. will post 6.17 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

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

Insider Activity

In related news, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction 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 directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the sale, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DAL has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Bank of America lifted their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Barclays increased their price target on Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, TD Cowen lowered their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $65.40.

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.