Independent Advisor Alliance Sells 8,763 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Independent Advisor Alliance lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,653 shares of the transportation company’s stock after selling 8,763 shares during the quarter. Independent Advisor Alliance’s holdings in Delta Air Lines were worth $1,963,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DAL. Future Financial Wealth Managment LLC acquired a new position in Delta Air Lines during the third quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Delta Air Lines in the 3rd quarter worth about $31,000. Kimelman & Baird LLC bought a new position in Delta Air Lines in the 2nd quarter valued at about $31,000. Unique Wealth Strategies LLC bought a new stake in Delta Air Lines during the 2nd quarter worth approximately $40,000. Finally, Quarry LP purchased a new stake in shares of Delta Air Lines in the second quarter worth approximately $41,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DAL shares. Deutsche Bank Aktiengesellschaft upped their price target on Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Citigroup increased their target price on shares of Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen boosted their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased 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. Finally, BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $75.83.

Delta Air Lines Stock Down 0.6 %

Shares of NYSE DAL opened at $64.14 on Wednesday. The business’s fifty day moving average price is $55.74 and its 200-day moving average price is $49.27. Delta Air Lines, Inc. has a one year low of $35.46 and a one year high of $66.25. The stock has a market capitalization of $41.39 billion, a PE ratio of 8.91, a P/E/G ratio of 1.20 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). The business had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.03 EPS. On average, equities research analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.33%.

Insider Activity

In related news, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total transaction of $470,276.20. Following the completion of the sale, the executive vice president now owns 58,897 shares of the company’s stock, valued at approximately $3,688,130.14. This trade represents a 11.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the firm’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 directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 140,240 shares of company stock worth $8,044,893. 0.96% of the stock is owned by corporate 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.