Meeder Asset Management Inc. Sells 30,965 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Meeder Asset Management Inc. trimmed its stake in Delta Air Lines, Inc. (NYSE:DAL) by 30.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,861 shares of the transportation company’s stock after selling 30,965 shares during the period. Meeder Asset Management Inc.’s holdings in Delta Air Lines were worth $3,650,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Delta Air Lines during the third quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in shares of Delta Air Lines during the 3rd quarter worth approximately $31,000. Kimelman & Baird LLC purchased a new stake in Delta Air Lines during the second quarter valued at approximately $31,000. Unique Wealth Strategies LLC acquired a new stake in Delta Air Lines in the second quarter valued at approximately $40,000. Finally, Quarry LP purchased a new position in Delta Air Lines in the second quarter worth $41,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction on 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 of the company’s stock, valued at $3,688,130.14. This represents a 11.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the sale, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock valued at $8,044,893 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 1.3 %

Shares of NYSE:DAL opened at $63.24 on Tuesday. 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 company has a market capitalization of $40.81 billion, a PE ratio of 8.78, a PEG ratio of 1.22 and a beta of 1.33. The business has a 50 day moving average of $53.45 and a two-hundred day moving average of $48.78. 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) last issued its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS 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 during the quarter, compared to analyst estimates of $14.65 billion. During the same period in the previous year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.95%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen increased their price target on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group reiterated a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a research note on Friday. Susquehanna boosted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 9th. Finally, Bank of America raised their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $71.22.

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.