Accredited Investors Inc. Sells 517 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Accredited Investors Inc. trimmed its position in Delta Air Lines, Inc. (NYSE:DAL) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,791 shares of the transportation company’s stock after selling 517 shares during the period. Accredited Investors Inc.’s holdings in Delta Air Lines were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DAL. Future Financial Wealth Managment LLC bought a new stake in Delta Air Lines during the third quarter valued at $25,000. Kimelman & Baird LLC bought a new stake in shares of Delta Air Lines during the 2nd quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Delta Air Lines during the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC purchased a new position in shares of Delta Air Lines during the second quarter worth about $36,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines in the second quarter worth approximately $40,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Delta Air Lines

In other news, CEO Edward H. Bastian sold 68,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $24,775,004.27. This trade represents a 13.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the sale, the executive vice president now owns 121,961 shares in the company, valued at $6,739,564.86. This represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Sanford C. Bernstein boosted their price target on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Jefferies Financial Group upped their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Barclays raised their price target on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Susquehanna upped their price objective on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Finally, TD Cowen raised their price objective on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $71.22.

Delta Air Lines Trading Down 1.2 %

DAL opened at $64.07 on Friday. Delta Air Lines, Inc. has a one year low of $35.28 and a one year high of $66.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The business has a 50 day simple moving average of $53.06 and a two-hundred day simple moving average of $48.71. The firm has a market capitalization of $41.34 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.23 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 return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the previous year, the business earned $2.03 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. Analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.94%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Delta Air Lines 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.