abrdn plc lifted its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 36.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,098 shares of the transportation company's stock after buying an additional 35,792 shares during the quarter. abrdn plc's holdings in Delta Air Lines were worth $6,859,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC grew its position in shares of Delta Air Lines by 24.7% during the 1st quarter. Manchester Capital Management LLC now owns 983 shares of the transportation company's stock worth $47,000 after buying an additional 195 shares in the last quarter. Armstrong Advisory Group Inc. grew its position in shares of Delta Air Lines by 13.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company's stock worth $84,000 after buying an additional 200 shares in the last quarter. Oakworth Capital Inc. grew its position in shares of 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 buying an additional 204 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in 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 purchasing an additional 221 shares in the last quarter. Finally, Norden Group LLC boosted its position in Delta Air Lines by 1.8% during the first quarter. Norden Group LLC now owns 14,006 shares of the transportation company's stock valued at $670,000 after purchasing an additional 243 shares in the last quarter. Institutional investors own 69.93% of the company's stock.
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Delta Air Lines from $68.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Sanford C. Bernstein raised their price objective on Delta Air Lines from $62.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Susquehanna raised their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a "positive" rating in a research report on Wednesday, October 9th. Bank of America raised their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Finally, Barclays raised their price objective on Delta Air Lines from $52.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $65.40.
Get Our Latest Stock Report on DAL
In related news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward H. Bastian sold 68,000 shares of Delta Air Lines stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 439,819 shares of the company's stock, valued at approximately $24,775,004.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,921 shares of company stock worth $5,665,886. 0.96% of the stock is owned by corporate insiders.
Shares of NYSE:DAL opened at $58.39 on Friday. Delta Air Lines, Inc. has a 52-week low of $31.57 and a 52-week high of $59.19. The stock has a market cap of $37.68 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.10 and a beta of 1.33. 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 business has a 50-day moving average price of $49.02 and a 200-day moving average price of $47.80.
Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share (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 firm had revenue of $15.68 billion during the quarter, compared to analysts' expectations of $14.65 billion. During the same quarter in the previous year, the business earned $2.03 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts predict that Delta Air Lines, Inc. will post 6.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines's payout ratio is 8.33%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Delta Air Lines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Delta Air Lines wasn't on the list.
While Delta Air Lines currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.