Harbour Investments Inc. Reduces Stake in Delta Air Lines, Inc. (NYSE:DAL)

Harbour Investments Inc. cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,121 shares of the transportation company’s stock after selling 485 shares during the period. Harbour Investments Inc.’s holdings in Delta Air Lines were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Senator Investment Group LP raised its holdings in Delta Air Lines by 90.0% during the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock valued at $22,534,000 after buying an additional 225,000 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of Delta Air Lines by 5.4% in the third quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock valued at $13,644,000 after acquiring an additional 13,802 shares during the period. Olstein Capital Management L.P. lifted its holdings in shares of Delta Air Lines by 32.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock worth $8,888,000 after acquiring an additional 43,000 shares during the last quarter. River Road Asset Management LLC boosted its stake in shares of Delta Air Lines by 22.8% during the 3rd quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock worth $6,634,000 after purchasing an additional 24,249 shares during the period. Finally, abrdn plc grew its holdings in Delta Air Lines by 36.0% during the 3rd quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock valued at $6,859,000 after purchasing an additional 35,792 shares during the last quarter. 69.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Delta Air Lines

In related news, SVP William C. Carroll sold 21,530 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the sale, the executive vice president now directly owns 58,897 shares in the company, valued at approximately $3,688,130.14. This represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,240 shares of company stock worth $8,044,893. 0.96% of the stock is owned by insiders.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $64.07 on Friday. The company has a market capitalization of $41.34 billion, a PE ratio of 8.90, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a 50-day simple moving average of $53.06 and a two-hundred day simple moving average of $48.72. Delta Air Lines, Inc. has a one year low of $35.28 and a one year high of $66.25. 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 (NYSE:DAL) last posted its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.03 EPS. Research analysts expect that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal 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 given 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 is currently 8.33%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Susquehanna boosted their target price on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $83.00 target price on shares of Delta Air Lines in a research note on Friday. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group raised their price target 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. Finally, TD Cowen boosted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines has an average rating of “Buy” and an average target price of $71.22.

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.