Hartford Funds Management Co LLC Sells 3,556 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Hartford Funds Management Co LLC cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 15.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,487 shares of the transportation company’s stock after selling 3,556 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Delta Air Lines were worth $990,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Delta Air Lines by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after acquiring an additional 1,105,674 shares during the period. Pzena Investment Management LLC bought a new position in Delta Air Lines during the 3rd quarter worth approximately $281,206,000. Charles Schwab Investment Management Inc. lifted its position in shares of Delta Air Lines by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,497,487 shares of the transportation company’s stock worth $177,637,000 after purchasing an additional 10,332 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Delta Air Lines by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,344,414 shares of the transportation company’s stock valued at $169,863,000 after purchasing an additional 14,624 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Delta Air Lines by 17.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,826,473 shares of the transportation company’s stock worth $87,433,000 after buying an additional 265,886 shares during the period. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $63.34 on Friday. Delta Air Lines, Inc. has a twelve month low of $35.46 and a twelve month high of $66.25. The stock’s 50 day moving average is $55.01 and its 200-day moving average is $49.13. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $40.87 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 1.20 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS 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 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 firm posted $2.03 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The firm 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. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.95%. Delta Air Lines’s payout ratio is 8.33%.

Insider Buying and Selling at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the transaction, the senior vice president now owns 19,756 shares in the company, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allison C. Ausband sold 7,510 shares of the company’s 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 sale, the executive vice president now owns 58,897 shares of the company’s stock, valued at $3,688,130.14. This trade represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,240 shares of company stock worth $8,044,893. Insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

DAL has been the topic of several recent analyst reports. Susquehanna boosted their target price 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. Sanford C. Bernstein boosted their price objective on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group reiterated a “buy” rating and issued a $83.00 target price on shares of Delta Air Lines in a report on Friday, November 15th. Finally, TD Cowen increased their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $72.75.

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.