Delta Air Lines, Inc. (NYSE:DAL) Stake Decreased by Patten & Patten Inc. TN

Patten & Patten Inc. TN reduced its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,567 shares of the transportation company’s stock after selling 4,576 shares during the quarter. Patten & Patten Inc. TN’s holdings in Delta Air Lines were worth $2,575,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DAL. KBC Group NV raised its position in shares of Delta Air Lines by 143.7% during the 3rd quarter. KBC Group NV now owns 56,611 shares of the transportation company’s stock worth $2,876,000 after buying an additional 33,378 shares in the last quarter. Donoghue Forlines LLC acquired a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $2,036,000. New Millennium Group LLC raised its holdings in Delta Air Lines by 314.0% during the third quarter. New Millennium Group LLC now owns 36,460 shares of the transportation company’s stock worth $1,852,000 after purchasing an additional 27,654 shares in the last quarter. Geode Capital Management LLC lifted its position in Delta Air Lines by 2.8% in the third quarter. Geode Capital Management LLC now owns 15,501,936 shares of the transportation company’s stock worth $789,452,000 after purchasing an additional 416,338 shares during the period. Finally, Castle Hook Partners LP bought a new position in Delta Air Lines during the 3rd quarter valued at $189,296,000. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Up 6.1 %

Shares of NYSE DAL opened at $46.60 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a one year low of $37.29 and a one year high of $69.98. The business has a 50-day moving average price of $62.34 and a two-hundred day moving average price of $57.96. The firm has a market capitalization of $30.12 billion, a PE ratio of 8.74, a PEG ratio of 0.75 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.76 by $0.09. The business had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. As a group, analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, February 27th. Delta Air Lines’s dividend payout ratio is currently 11.26%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DAL shares. Barclays dropped their price objective on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Susquehanna upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. TD Cowen increased their target price on shares of Delta Air Lines from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 13th. StockNews.com raised Delta Air Lines from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, UBS Group cut their price objective on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Delta Air Lines currently has an average rating of “Buy” and an average target price of $76.60.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 91,710 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at $30,721,357.15. The trade was a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Rahul D. Samant sold 38,023 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total transaction of $2,467,312.47. Following the transaction, the executive vice president now owns 52,789 shares in the company, valued at $3,425,478.21. This represents a 41.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is owned by insiders.

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.