CIBC Asset Management Inc Has $4.76 Million Holdings in Delta Air Lines, Inc. (NYSE:DAL)

CIBC Asset Management Inc lifted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,706 shares of the transportation company’s stock after purchasing an additional 6,896 shares during the period. CIBC Asset Management Inc’s holdings in Delta Air Lines were worth $4,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in Delta Air Lines during the 3rd quarter worth $25,000. Kimelman & Baird LLC acquired a new position in Delta Air Lines during the 2nd quarter worth $31,000. Ashton Thomas Securities LLC acquired a new position in Delta Air Lines during the 3rd quarter worth $31,000. Strategic Financial Concepts LLC acquired a new position in Delta Air Lines during the 2nd quarter worth $36,000. Finally, Unique Wealth Strategies LLC acquired a new position in Delta Air Lines during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $24,775,004.27. This represents a 13.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a research report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Susquehanna upped their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. Finally, BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Delta Air Lines has an average rating of “Buy” and a consensus price target of $71.22.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $64.07 on Monday. 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 market capitalization of $41.34 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 1.22 and a beta of 1.33. Delta Air Lines, Inc. has a 1-year low of $35.28 and a 1-year high of $66.25. The firm’s 50-day moving average price is $53.06 and its two-hundred day moving average price is $48.70.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data 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). The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 earnings per share. On average, equities analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

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

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.