Everence Capital Management Inc. Has $973,000 Stake in Delta Air Lines, Inc. (NYSE:DAL)

Everence Capital Management Inc. lessened its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 37.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,150 shares of the transportation company’s stock after selling 11,420 shares during the period. Everence Capital Management Inc.’s holdings in Delta Air Lines were worth $973,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new position in Delta Air Lines in the 2nd quarter worth about $60,217,000. Russell Investments Group Ltd. raised its position in shares of Delta Air Lines by 96.1% in the 1st quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock worth $119,057,000 after acquiring an additional 1,219,074 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Delta Air Lines by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after buying an additional 1,105,674 shares during the period. American Century Companies Inc. boosted its position in shares of Delta Air Lines by 159.8% during the 2nd quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock worth $27,915,000 after purchasing an additional 361,942 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Delta Air Lines by 98.5% during the second quarter. Sei Investments Co. now owns 667,373 shares of the transportation company’s stock worth $31,660,000 after purchasing an additional 331,197 shares during the period. 69.93% of the stock is owned by institutional investors.

Delta Air Lines Stock Down 1.7 %

DAL stock traded down $0.93 during midday trading on Monday, hitting $54.87. The company’s stock had a trading volume of 3,619,622 shares, compared to its average volume of 9,497,438. The company has a market cap of $35.41 billion, a PE ratio of 8.03, a P/E/G ratio of 0.98 and a beta of 1.35. The firm’s 50-day moving average is $45.81 and its 200-day moving average is $47.15. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $56.48. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS 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 the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. Delta Air Lines’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 earnings per share. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 6.17 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. Delta Air Lines’s dividend payout ratio is currently 8.63%.

Insider Activity

In other news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated 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 owns 108,990 shares in the company, valued at $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Cowen decreased their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Susquehanna upped their target price on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein boosted their target price on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Bank of America lifted their price target on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Barclays increased their target price on shares of Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $65.40.

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.