Intellectus Partners LLC Increases Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Intellectus Partners LLC increased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 25.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,887 shares of the transportation company’s stock after purchasing an additional 11,669 shares during the period. Intellectus Partners LLC’s holdings in Delta Air Lines were worth $2,889,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of Delta Air Lines in the 3rd quarter valued at $25,000. Kimelman & Baird LLC bought a new stake in Delta Air Lines during the second quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new position in Delta Air Lines in the third quarter valued at about $31,000. Strategic Financial Concepts LLC bought a new position in Delta Air Lines in the second quarter worth about $36,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at about $40,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DAL. Barclays lifted their price objective on shares of Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. 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 report on Friday, October 11th. Susquehanna increased their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 9th. Jefferies Financial Group boosted their target price on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Bank of America increased their price target on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $70.23.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 68,000 shares of Delta Air Lines stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares of the company’s stock, valued at $24,775,004.27. The trade was a 13.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Allison C. Ausband sold 7,510 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the sale, the executive vice president now directly owns 58,897 shares in the company, valued at approximately $3,688,130.14. This trade represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,240 shares of company stock worth $8,044,893. Insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Up 0.6 %

Delta Air Lines stock opened at $64.84 on Friday. The stock has a 50-day moving average price of $52.17 and a 200 day moving average price of $48.51. The company has a market capitalization of $41.84 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. Delta Air Lines, Inc. has a 52 week low of $35.28 and a 52 week high of $66.25. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last announced its quarterly 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). The firm 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%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $2.03 earnings per share. Sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

About Delta Air Lines

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.