Assetmark Inc. Increases Stake in Delta Air Lines, Inc. (NYSE:DAL)

Assetmark Inc. raised its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 68.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,006 shares of the transportation company’s stock after acquiring an additional 1,218 shares during the period. Assetmark Inc.’s holdings in Delta Air Lines were worth $153,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DAL. Jupiter Asset Management Ltd. purchased a new stake in Delta Air Lines during the 2nd quarter valued at approximately $60,217,000. Dimensional Fund Advisors LP grew its holdings in shares of Delta Air Lines by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after purchasing an additional 1,105,674 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Delta Air Lines by 419.5% in the third quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock valued at $28,551,000 after purchasing an additional 453,926 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Delta Air Lines by 159.8% in the second quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock valued at $27,915,000 after purchasing an additional 361,942 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Delta Air Lines by 98.5% in the second quarter. Sei Investments Co. now owns 667,373 shares of the transportation company’s stock valued at $31,660,000 after purchasing an additional 331,197 shares in the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Stock Down 1.2 %

NYSE:DAL opened at $64.07 on Monday. Delta Air Lines, Inc. has a twelve month low of $35.28 and a twelve month high of $66.25. The company has a market cap of $41.34 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33. The stock has a fifty day simple moving average of $53.06 and a 200-day simple moving average of $48.70. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05.

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). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter last year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Announces Dividend

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 dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. Delta Air Lines’s dividend payout ratio (DPR) is 8.33%.

Analyst Ratings Changes

A number of research analysts recently weighed in on DAL shares. Susquehanna raised their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 9th. Bank of America raised their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. Jefferies Financial Group raised their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 11th. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a research report on Friday. One 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $71.22.

Insider Transactions at Delta Air Lines

In related 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 value 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 $5,499,635.40. The trade was a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction dated 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 sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,197,608.72. The trade was a 52.15 % decrease in their ownership of the stock. 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 currently owned by insiders.

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.