EULAV Asset Management Lowers Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

EULAV Asset Management lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 17.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,000 shares of the transportation company’s stock after selling 10,000 shares during the period. EULAV Asset Management’s holdings in Delta Air Lines were worth $2,438,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Huntington National Bank lifted its stake in Delta Air Lines by 2.9% in the 3rd quarter. Huntington National Bank now owns 6,679 shares of the transportation company’s stock worth $339,000 after purchasing an additional 189 shares in the last quarter. Armstrong Advisory Group Inc. lifted its stake in shares of Delta Air Lines by 13.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock valued at $84,000 after acquiring an additional 200 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of Delta Air Lines by 16.9% during the third quarter. Oakworth Capital Inc. now owns 1,412 shares of the transportation company’s stock valued at $72,000 after purchasing an additional 204 shares during the period. Total Investment Management Inc. boosted its position in Delta Air Lines by 3.0% during the 3rd quarter. Total Investment Management Inc. now owns 7,357 shares of the transportation company’s stock valued at $374,000 after buying an additional 212 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Delta Air Lines by 6.0% during the third quarter. Van ECK Associates Corp now owns 4,198 shares of the transportation company’s stock worth $229,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In other Delta Air Lines news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at approximately $1,197,608.72. The trade was a 52.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction dated 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 transaction, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. This trade represents a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock worth $8,044,893 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Barclays boosted their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Sanford C. Bernstein increased their target price on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $83.00 price target on shares of Delta Air Lines in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and an average price target of $71.22.

Delta Air Lines Stock Performance

Shares of DAL opened at $64.76 on Wednesday. The company’s 50 day simple moving average is $53.88 and its 200 day simple moving average is $48.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.22 and a beta of 1.33. Delta Air Lines, Inc. has a 1 year low of $35.46 and a 1 year high of $66.25.

Delta Air Lines (NYSE:DAL) last issued its 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 during the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the prior year, the business posted $2.03 EPS. The business’s revenue was up 1.2% on a year-over-year basis. On average, sell-side 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 announced 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 dividend on an annualized basis and a yield of 0.93%. Delta Air Lines’s dividend payout ratio is presently 8.33%.

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.