Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 71.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 441,459 shares of the transportation company’s stock after selling 1,116,058 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Delta Air Lines were worth $22,422,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Delta Air Lines in the 3rd quarter valued at about $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines during the second quarter valued at approximately $31,000. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines in the 2nd quarter worth about $36,000. Unique Wealth Strategies LLC bought a new position in Delta Air Lines during the 2nd quarter worth $40,000. Finally, Quarry LP bought a new position in Delta Air Lines in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $58.39 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. Delta Air Lines, Inc. has a 52-week low of $31.57 and a 52-week high of $59.19. The stock has a market capitalization of $37.68 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.35. The company has a fifty day moving average of $49.02 and a 200-day moving average of $47.79.

Delta Air Lines (NYSE:DAL) last posted 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). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter last year, the company posted $2.03 EPS. Delta Air Lines’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect that Delta Air Lines, Inc. will post 6.12 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Insider Buying and Selling

In related news, EVP Rahul D. Samant sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $58.53, for a total transaction of $585,300.00. Following the completion of the sale, the executive vice president now directly owns 64,163 shares of the company’s stock, valued at approximately $3,755,460.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the sale, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rahul D. Samant sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $58.53, for a total value of $585,300.00. Following the completion of the transaction, the executive vice president now owns 64,163 shares in the company, valued at $3,755,460.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,921 shares of company stock worth $5,665,886. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group boosted 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. Barclays raised their price target on Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Susquehanna upped their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Sanford C. Bernstein upped their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $65.40.

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.