PNC Financial Services Group Inc. Lowers Holdings in Delta Air Lines, Inc. (NYSE:DAL)

PNC Financial Services Group Inc. trimmed its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 117,237 shares of the transportation company’s stock after selling 2,878 shares during the period. PNC Financial Services Group Inc.’s holdings in Delta Air Lines were worth $5,954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Delta Air Lines during the third quarter valued at approximately $25,000. Kimelman & Baird LLC bought a new stake in shares of Delta Air Lines in the 2nd quarter worth $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Delta Air Lines in the third quarter worth $31,000. Strategic Financial Concepts LLC bought a new position in shares of Delta Air Lines during the second quarter valued at $36,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at $40,000. 69.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, SVP William C. Carroll sold 21,530 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $1,197,608.72. This represents a 52.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction that occurred 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 sale, the executive vice president now owns 58,897 shares in the company, valued at approximately $3,688,130.14. The trade was a 11.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock valued at $8,044,893 over the last ninety days. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Price Performance

DAL stock opened at $63.34 on Friday. The business’s 50-day moving average price is $55.01 and its 200-day moving average price is $49.13. The stock has a market cap of $40.87 billion, a P/E ratio of 8.80, a PEG ratio of 1.20 and a beta of 1.33. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a twelve month low of $35.46 and a twelve month high of $66.25.

Delta Air Lines (NYSE:DAL) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 EPS. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. Delta Air Lines’s payout ratio is presently 8.33%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DAL shares. Barclays boosted their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. 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 report on Tuesday, November 12th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. The Goldman Sachs Group reiterated a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a research note on Friday, November 15th. Finally, Susquehanna raised their price target on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $72.75.

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.