SpiderRock Advisors LLC Reduces Stake in Delta Air Lines, Inc. (NYSE:DAL)

SpiderRock Advisors LLC trimmed its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 137,663 shares of the transportation company’s stock after selling 500 shares during the quarter. SpiderRock Advisors LLC’s holdings in Delta Air Lines were worth $6,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DAL. Future Financial Wealth Managment LLC bought a new position in shares of Delta Air Lines in the third quarter worth about $25,000. Kimelman & Baird LLC bought a new stake in Delta Air Lines during the 2nd quarter worth approximately $31,000. Strategic Financial Concepts LLC bought a new stake in Delta Air Lines during the 2nd quarter worth approximately $36,000. Unique Wealth Strategies LLC purchased a new position in Delta Air Lines during the second quarter valued at approximately $40,000. Finally, Quarry LP bought a new position in shares of Delta Air Lines in the second quarter worth approximately $41,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Up 1.0 %

NYSE DAL opened at $61.06 on Friday. 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 52 week low of $33.31 and a 52 week high of $62.66. The firm has a market capitalization of $39.40 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 1.07 and a beta of 1.33. The company has a fifty day moving average of $50.87 and a two-hundred day moving average of $48.21.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data 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). The firm had revenue of $15.68 billion during 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 firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 EPS. On average, analysts predict that Delta Air Lines, Inc. will post 6.12 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Ratings Changes

A number of research analysts recently weighed in on DAL shares. Bank of America lifted their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. boosted their price objective on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Susquehanna increased their target price on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein upped 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. Finally, Barclays upped their price objective on Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and a consensus target price of $65.40.

Insiders Place Their Bets

In related news, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the sale, the executive vice president now owns 58,897 shares in the company, valued at $3,688,130.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the transaction, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at $6,739,564.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total value of $470,276.20. Following the sale, the executive vice president now directly owns 58,897 shares in the company, valued at $3,688,130.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,710 shares of company stock worth $6,739,745 over the last quarter. Company insiders own 0.96% of the company’s stock.

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.