Delta Air Lines, Inc. (NYSE:DAL) Stock Position Lowered by E&G Advisors LP

E&G Advisors LP decreased its position in Delta Air Lines, Inc. (NYSE:DAL) by 4.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 17,600 shares of the transportation company’s stock after selling 790 shares during the period. E&G Advisors LP’s holdings in Delta Air Lines were worth $892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DAL. Senator Investment Group LP increased its holdings in shares of Delta Air Lines by 90.0% in the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock valued at $22,534,000 after purchasing an additional 225,000 shares during the period. Maryland State Retirement & Pension System increased its stake in Delta Air Lines by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock valued at $2,384,000 after buying an additional 1,362 shares during the period. RFG Advisory LLC purchased a new stake in Delta Air Lines in the 1st quarter worth approximately $1,108,000. Norden Group LLC boosted its stake in shares of Delta Air Lines by 714.1% during the 1st quarter. Norden Group LLC now owns 112,048 shares of the transportation company’s stock valued at $5,364,000 after buying an additional 98,285 shares during the period. Finally, Inspire Investing LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at $907,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Stock Performance

NYSE:DAL opened at $55.80 on Friday. The firm has a market capitalization of $36.01 billion, a PE ratio of 8.03, a PEG ratio of 0.98 and a beta of 1.35. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $56.48. The firm’s fifty day simple moving average is $45.81 and its 200 day simple moving average is $47.14.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. 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 prior year, the business posted $2.03 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.17 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. Delta Air Lines’s payout ratio is 8.63%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DAL shares. TD Cowen cut their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Jefferies Financial Group raised their price target on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted 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. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Susquehanna boosted their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. One equities 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $65.40.

Insider Buying and Selling

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the completion of the sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the transaction, the executive vice president now owns 121,961 shares of the company’s stock, valued at $6,739,564.86. This represents a 0.00 % 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 firm’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 value of $173,128.26. Following the completion of the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at $5,499,635.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

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.