Foundry Partners LLC Sells 3,919 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Foundry Partners LLC cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 691,322 shares of the transportation company’s stock after selling 3,919 shares during the period. Delta Air Lines comprises approximately 1.7% of Foundry Partners LLC’s holdings, making the stock its 4th biggest position. Foundry Partners LLC owned 0.11% of Delta Air Lines worth $35,112,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new stake in Delta Air Lines in the third quarter worth $379,000. Intech Investment Management LLC increased its stake in shares of Delta Air Lines by 908.6% in the third quarter. Intech Investment Management LLC now owns 100,982 shares of the transportation company’s stock valued at $5,129,000 after purchasing an additional 90,970 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of Delta Air Lines by 4.1% during the third quarter. Citizens Financial Group Inc. RI now owns 81,472 shares of the transportation company’s stock worth $4,138,000 after buying an additional 3,230 shares during the period. Pzena Investment Management LLC acquired a new stake in Delta Air Lines in the 3rd quarter valued at approximately $281,206,000. Finally, Altman Advisors Inc. raised its stake in Delta Air Lines by 2.1% during the 3rd quarter. Altman Advisors Inc. now owns 40,016 shares of the transportation company’s stock valued at $2,032,000 after acquiring an additional 809 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the senior vice president now directly owns 19,756 shares in the company, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock valued at $8,044,893 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Down 1.7 %

Shares of NYSE:DAL opened at $63.64 on Thursday. The firm has a fifty day moving average of $54.27 and a two-hundred day moving average of $48.98. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 12-month low of $35.46 and a 12-month high of $66.25. The firm has a market capitalization of $41.07 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share (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 firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same period in the previous year, the business posted $2.03 EPS. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts expect that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is presently 8.33%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. 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 research report on Tuesday, November 12th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Bank of America boosted their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines has an average rating of “Buy” and an average target price of $71.22.

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.