Swedbank AB Cuts Position in Delta Air Lines, Inc. (NYSE:DAL)

by · The Markets Daily

Swedbank AB reduced its stake in shares of Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,437 shares of the transportation company’s stock after selling 755 shares during the period. Swedbank AB’s holdings in Delta Air Lines were worth $5,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new stake in Delta Air Lines in the third quarter valued at $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new position in Delta Air Lines during the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC acquired a new position in Delta Air Lines during the second quarter worth about $36,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines in the second quarter valued at about $40,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group restated a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Sanford C. Bernstein raised their price target 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. Finally, Citigroup boosted their price objective on shares of Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $75.83.

View Our Latest Stock Report on Delta Air Lines

Delta Air Lines Price Performance

DAL stock opened at $63.60 on Thursday. The company has a market cap of $41.04 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $56.08 and a two-hundred day moving average price of $49.37. Delta Air Lines, Inc. has a 12-month low of $35.46 and a 12-month high of $66.25.

Delta Air Lines (NYSE:DAL – Get Free Report) last posted its 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). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Insider Transactions at Delta Air Lines

In related news, EVP Allison C. Ausband sold 7,510 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines 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 sale, the senior vice president now owns 19,756 shares in the company, valued at $1,197,608.72. This represents a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. Corporate insiders own 0.96% of the company’s stock.

About Delta Air Lines

(Free Report)

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.

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