Patten & Patten Inc. TN Lowers Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Patten & Patten Inc. TN reduced its stake in Delta Air Lines, Inc. (NYSE:DAL) by 10.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,143 shares of the transportation company’s stock after selling 5,243 shares during the period. Patten & Patten Inc. TN’s holdings in Delta Air Lines were worth $2,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAL. Armstrong Advisory Group Inc. lifted its stake in shares of Delta Air Lines by 13.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 200 shares during the period. Oakworth Capital Inc. lifted its stake in shares of Delta Air Lines by 16.9% in the third quarter. Oakworth Capital Inc. now owns 1,412 shares of the transportation company’s stock worth $72,000 after acquiring an additional 204 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in Delta Air Lines by 4.0% in the first quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock worth $276,000 after purchasing an additional 221 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Delta Air Lines by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,198 shares of the transportation company’s stock valued at $229,000 after buying an additional 239 shares during the last quarter. Finally, Waldron Private Wealth LLC lifted its stake in Delta Air Lines by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 4,816 shares of the transportation company’s stock valued at $245,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Delta Air Lines news, CEO Edward H. Bastian sold 68,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $56.33, for a total value of $3,830,440.00. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $24,775,004.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated 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 transaction, 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. Over the last quarter, insiders have sold 118,710 shares of company stock worth $6,739,745. 0.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DAL shares. TD Cowen cut their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Barclays lifted their price objective on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Bank of America upped their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $65.40.

Delta Air Lines Trading Up 1.0 %

NYSE:DAL opened at $61.05 on Monday. The stock has a fifty day simple moving average of $50.87 and a 200 day simple moving average of $48.20. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $39.39 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.33. Delta Air Lines, Inc. has a 1-year low of $33.31 and a 1-year high of $62.66.

Delta Air Lines (NYSE:DAL) last released its earnings results 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). The firm had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $2.03 earnings per share. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.12 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

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.