New Millennium Group LLC Acquires 27,654 Shares of Delta Air Lines, Inc. (NYSE:DAL)

New Millennium Group LLC boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 314.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,460 shares of the transportation company’s stock after acquiring an additional 27,654 shares during the period. Delta Air Lines accounts for 1.2% of New Millennium Group LLC’s holdings, making the stock its 21st biggest position. New Millennium Group LLC’s holdings in Delta Air Lines were worth $1,852,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DAL. Future Financial Wealth Managment LLC acquired a new stake in Delta Air Lines in the third quarter valued at about $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines in the second quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new stake 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 valued at about $36,000. Finally, Unique Wealth Strategies LLC bought a new position in Delta Air Lines in the second quarter valued at about $40,000. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $61.52 on Tuesday. The firm has a market capitalization of $39.70 billion, a P/E ratio of 8.78, a PEG ratio of 1.22 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 has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The business has a fifty day moving average price of $53.45 and a 200-day moving average price of $48.78.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the previous year, the firm earned $2.03 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current 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 of this dividend was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Wall Street Analyst Weigh In

DAL has been the subject of several research reports. Susquehanna increased their target price on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Bank of America increased their target price 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. Jefferies Financial Group raised their price objective on 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, Barclays raised their price objective on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $71.22.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 68,000 shares of the firm’s 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 sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $24,775,004.27. This trade represents a 13.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joanne D. Smith sold 3,431 shares of the business’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 transaction, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,240 shares of company stock valued at $8,044,893. Company insiders own 0.96% of the company’s stock.

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.