Private Trust Co. NA Sells 900 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Private Trust Co. NA trimmed its stake in Delta Air Lines, Inc. (NYSE:DAL) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,192 shares of the transportation company’s stock after selling 900 shares during the period. Private Trust Co. NA’s holdings in Delta Air Lines were worth $314,000 as of its most recent SEC filing.

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

Delta Air Lines Price Performance

DAL opened at $63.60 on Thursday. 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 stock has a market capitalization of $41.04 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The stock’s 50 day moving average price is $56.08 and its 200-day moving average price is $49.37. Delta Air Lines, Inc. has a 52-week low of $35.46 and a 52-week high of $66.25.

Delta Air Lines (NYSE:DAL) last issued 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 company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the previous year, the firm posted $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.15 per share. 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 payout ratio is 8.33%.

Analyst Ratings Changes

DAL has been the topic of a number of research reports. Citigroup raised their price objective on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Bank of America increased their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a research note on Friday, November 15th. Finally, 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 note on Tuesday, October 8th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $75.83.

Insiders Place Their Bets

In related news, CEO Edward H. Bastian sold 68,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the sale, the chief executive officer now owns 439,819 shares of the company’s stock, valued at $24,775,004.27. The trade was a 13.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Allison C. Ausband sold 7,510 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total transaction of $470,276.20. Following the transaction, the executive vice president now directly owns 58,897 shares of the company’s stock, valued at $3,688,130.14. This represents a 11.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,240 shares of company stock worth $8,044,893. Company insiders own 0.96% of the company’s stock.

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.