Amalgamated Bank Has $6.41 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Amalgamated Bank lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 21.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 126,156 shares of the transportation company’s stock after selling 34,787 shares during the quarter. Amalgamated Bank’s holdings in Delta Air Lines were worth $6,407,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DAL shares. TD Cowen dropped their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Sanford C. Bernstein increased their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Bank of America lifted their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $65.40.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the sale, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at $6,739,564.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,200 shares of company stock worth $6,269,469 over the last quarter. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Up 6.9 %

Shares of DAL stock opened at $62.29 on Thursday. 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 fifty-two week low of $32.61 and a fifty-two week high of $62.66. The company has a market cap of $40.19 billion, a PE ratio of 8.65, a P/E/G ratio of 1.10 and a beta of 1.33. The stock’s fifty day moving average price is $50.12 and its two-hundred day moving average price is $48.04.

Delta Air Lines (NYSE:DAL) last released its earnings results 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). The business had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 EPS. Equities analysts predict that Delta Air Lines, Inc. will post 6.12 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Delta Air Lines 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.