Main Street Financial Solutions LLC Sells 956 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Main Street Financial Solutions LLC cut its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,457 shares of the transportation company’s stock after selling 956 shares during the period. Main Street Financial Solutions LLC’s holdings in Delta Air Lines were worth $531,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Armstrong Advisory Group Inc. increased its stake in shares of Delta Air Lines by 13.8% in the third quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock valued at $84,000 after buying an additional 200 shares during the period. Oakworth Capital Inc. grew its holdings in Delta Air Lines by 16.9% during the 3rd quarter. Oakworth Capital Inc. now owns 1,412 shares of the transportation company’s stock worth $72,000 after acquiring an additional 204 shares during the last quarter. Total Investment Management Inc. increased its position in Delta Air Lines by 3.0% in the 3rd quarter. Total Investment Management Inc. now owns 7,357 shares of the transportation company’s stock valued at $374,000 after acquiring an additional 212 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of Delta Air Lines by 4.0% during the first quarter. HBK Sorce Advisory LLC now owns 5,772 shares of the transportation company’s stock valued at $276,000 after acquiring an additional 221 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Delta Air Lines by 6.0% during the third quarter. Van ECK Associates Corp now owns 4,198 shares of the transportation company’s stock worth $229,000 after purchasing an additional 239 shares during the period. 69.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Susquehanna increased their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 9th. 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. TD Cowen upped their target price on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America raised their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, 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 note on Friday, October 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $70.23.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 68,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the sale, the chief executive officer now owns 439,819 shares in the company, valued at approximately $24,775,004.27. This trade represents a 13.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alain Bellemare sold 19,490 shares of the business’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 in the company, valued at $6,739,564.86. The trade was a 13.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,240 shares of company stock worth $8,044,893. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL opened at $64.84 on Friday. The company has a market cap of $41.84 billion, a P/E ratio of 9.01, a PEG ratio of 1.22 and a beta of 1.33. The company has a fifty day simple moving average of $52.17 and a 200 day simple moving average of $48.51. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 12-month low of $35.28 and a 12-month high of $66.25.

Delta Air Lines (NYSE:DAL) last posted its earnings results 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 return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.33%.

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.