Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 22.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,157 shares of the transportation company’s stock after selling 2,069 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Delta Air Lines were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Pzena Investment Management LLC purchased a new position in shares of Delta Air Lines in the third quarter valued at approximately $281,206,000. Castle Hook Partners LP purchased a new position in shares of Delta Air Lines in the third quarter valued at approximately $189,296,000. Jupiter Asset Management Ltd. purchased a new position in shares of Delta Air Lines in the second quarter valued at approximately $60,217,000. Dimensional Fund Advisors LP lifted its stake in Delta Air Lines by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after acquiring an additional 1,105,674 shares during the last quarter. Finally, Sanders Capital LLC lifted its stake in Delta Air Lines by 2.8% in the third quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock worth $1,414,074,000 after acquiring an additional 749,099 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were 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 approximately $5,499,635.40. This represents a 3.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the completion of the transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $24,775,004.27. This trade represents a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock worth $8,044,893 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $63.62 on Friday. The firm has a market capitalization of $41.05 billion, a P/E ratio of 8.84, a PEG ratio of 1.21 and a beta of 1.33. Delta Air Lines, Inc. has a one year low of $35.46 and a one year high of $66.25. The company’s fifty day moving average is $56.41 and its two-hundred day moving average is $49.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39.

Delta Air Lines (NYSE:DAL) last issued its 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). The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

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

Wall Street Analyst Weigh In

DAL has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $75.83.

Delta Air Lines Company 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.