Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 45.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,874 shares of the transportation company’s stock after selling 31,077 shares during the quarter. Wright Investors Service Inc.’s holdings in Delta Air Lines were worth $1,873,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC grew its position in Delta Air Lines by 24.7% in the 1st quarter. Manchester Capital Management LLC now owns 983 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 195 shares in the last quarter. HBK Sorce Advisory LLC grew its position 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 worth $276,000 after buying an additional 221 shares in the last quarter. Silverlake Wealth Management LLC grew its position in shares of Delta Air Lines by 2.9% during the first quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock worth $390,000 after buying an additional 229 shares in the last quarter. Norden Group LLC grew its position in shares of Delta Air Lines by 1.8% during the first quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock worth $670,000 after buying an additional 243 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of Delta Air Lines by 4.7% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 5,772 shares of the transportation company’s stock worth $274,000 after buying an additional 260 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

NYSE:DAL traded up $1.82 during trading hours on Friday, hitting $49.28. The company’s stock had a trading volume of 8,581,150 shares, compared to its average volume of 9,478,827. The business’s 50-day moving average is $43.35 and its two-hundred day moving average is $46.73. The company has a market capitalization of $31.80 billion, a PE ratio of 7.09, a PEG ratio of 0.90 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $53.86.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. During the same quarter in the previous year, the company posted $2.68 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Delta Air Lines, Inc. will post 6.18 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.63%.

Insider Activity at Delta Air Lines

In related news, Director Willie Cw Chiang acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were acquired at an average price of $43.90 per share, with a total value of $439,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $878,000. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Cowen lowered their price objective on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Sanford C. Bernstein lowered their price target on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, July 12th. Finally, Jefferies Financial Group upped their price target on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $61.83.

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.