E&G Advisors LP Sells 790 Shares of Delta Air Lines, Inc. (NYSE:DAL)

E&G Advisors LP lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 17,600 shares of the transportation company’s stock after selling 790 shares during the period. E&G Advisors LP’s holdings in Delta Air Lines were worth $892,000 at the end of the most recent reporting period.

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

Delta Air Lines Trading Up 1.0 %

Shares of DAL opened at $55.80 on Friday. The stock’s fifty day simple moving average is $45.81 and its 200-day simple moving average is $47.14. The firm has a market capitalization of $36.01 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $56.48. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21.

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). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. 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 company posted $2.03 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts predict that Delta Air Lines, Inc. will post 6.17 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is presently 8.63%.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 completion of the transaction, the executive vice president now owns 121,961 shares in the company, valued at approximately $6,739,564.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the sale, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DAL. 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 report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Barclays lifted their target price on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group increased their price target on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $65.40.

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.