Delta Air Lines, Inc. (NYSE:DAL) Shares Purchased by Pitcairn Co.

Pitcairn Co. raised its position in Delta Air Lines, Inc. (NYSE:DAL) by 15.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,257 shares of the transportation company’s stock after purchasing an additional 2,958 shares during the quarter. Pitcairn Co.’s holdings in Delta Air Lines were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Delta Air Lines during the third quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new position in shares of Delta Air Lines during the 2nd quarter valued at $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Delta Air Lines in the 3rd quarter worth $31,000. Strategic Financial Concepts LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at $36,000. Finally, Unique Wealth Strategies LLC bought a new position in Delta Air Lines during the second quarter valued at about $40,000. Institutional investors own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This represents a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alain Bellemare sold 19,490 shares of the firm’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 value of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DAL has been the topic of several recent research reports. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Susquehanna upped their price target on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group lifted their target price on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, 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. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average target price of $72.75.

Delta Air Lines Stock Performance

DAL stock opened at $63.34 on Monday. The stock has a market cap of $40.87 billion, a P/E ratio of 8.80, a P/E/G ratio of 1.20 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The firm has a 50 day simple moving average of $55.01 and a 200 day simple moving average of $49.11. Delta Air Lines, Inc. has a 52 week low of $35.46 and a 52 week high of $66.25.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. Delta Air Lines’s dividend 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.