Kentucky Retirement Systems Insurance Trust Fund Sells 1,828 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Delta Air Lines, Inc. (NYSE:DAL) by 8.8% in the third quarter, HoldingsChannel reports. The firm owned 18,986 shares of the transportation company’s stock after selling 1,828 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Delta Air Lines were worth $964,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DAL. Future Financial Wealth Managment LLC purchased a new position in Delta Air Lines during the third quarter valued at $25,000. Kimelman & Baird LLC bought a new position in shares of Delta Air Lines in the 2nd quarter worth about $31,000. Ashton Thomas Securities LLC purchased a new position in Delta Air Lines during the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC bought a new stake in Delta Air Lines during the second quarter worth about $36,000. Finally, Unique Wealth Strategies LLC purchased a new stake in Delta Air Lines in the second quarter worth about $40,000. 69.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP William C. Carroll sold 21,530 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the transaction, the senior vice president now owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. The trade was a 52.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total transaction of $470,276.20. Following the transaction, the executive vice president now directly owns 58,897 shares of the company’s stock, valued at $3,688,130.14. The trade was a 11.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DAL shares. Bank of America boosted their price target 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. Barclays increased their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen lifted their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group restated a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a research note on Friday. Finally, Jefferies Financial Group upped their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Delta Air Lines has an average rating of “Buy” and a consensus target price of $71.22.

Delta Air Lines Trading Down 1.2 %

Shares of DAL stock opened at $64.07 on Monday. 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 company has a market cap of $41.34 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.22 and a beta of 1.33. Delta Air Lines, Inc. has a 1 year low of $35.28 and a 1 year high of $66.25. The firm has a fifty day moving average price of $53.06 and a 200-day moving average price of $48.70.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the prior year, the firm posted $2.03 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

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.