Golden State Equity Partners Raises Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Golden State Equity Partners increased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,519 shares of the transportation company’s stock after acquiring an additional 1,165 shares during the quarter. Golden State Equity Partners’ holdings in Delta Air Lines were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Pathway Financial Advisers LLC increased its position in Delta Air Lines by 4,990.3% during the 3rd quarter. Pathway Financial Advisers LLC now owns 13,642 shares of the transportation company’s stock valued at $693,000 after buying an additional 13,374 shares in the last quarter. GW Henssler & Associates Ltd. bought a new position in shares of Delta Air Lines during the third quarter valued at $230,000. Traynor Capital Management Inc. purchased a new stake in shares of Delta Air Lines during the third quarter valued at $227,000. abrdn plc lifted its stake in Delta Air Lines by 36.0% during the 3rd quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock valued at $6,859,000 after acquiring an additional 35,792 shares during the period. Finally, Pallas Capital Advisors LLC bought a new position in Delta Air Lines during the third quarter valued at approximately $662,000. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Price Performance

Shares of NYSE:DAL traded up $0.73 during mid-day trading on Wednesday, reaching $58.07. The stock had a trading volume of 731,273 shares, compared to its average volume of 9,411,504. The company has a market cap of $37.47 billion, a P/E ratio of 7.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. The business’s 50 day moving average price is $47.97 and its 200 day moving average price is $47.56. 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 $30.76 and a 1 year high of $58.17.

Delta Air Lines (NYSE:DAL) last released 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 7.46% and a return on equity of 36.02%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter last year, the business earned $2.03 EPS. Delta Air Lines’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Delta Air Lines, Inc. will post 6.17 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DAL. Jefferies Financial Group raised their target price on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen decreased their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Barclays boosted their price target on Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Susquehanna raised their price objective on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. Finally, Bank of America boosted their price objective 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 analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $65.40.

Insider Activity

In other news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction dated 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 owns 108,990 shares in the company, valued at approximately $5,499,635.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction 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 approximately $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,921 shares of company stock worth $5,080,586. Company insiders own 0.96% of the company’s stock.

Delta Air Lines 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.