BNP Paribas Sells 650 Shares of Delta Air Lines, Inc. (NYSE:DAL)

BNP Paribas lessened its position in Delta Air Lines, Inc. (NYSE:DAL) by 38.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,058 shares of the transportation company’s stock after selling 650 shares during the period. BNP Paribas’ holdings in Delta Air Lines were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sanders Capital LLC grew its position in shares of Delta Air Lines by 2.8% in the 3rd quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock valued at $1,414,074,000 after acquiring an additional 749,099 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Delta Air Lines by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock valued at $471,330,000 after acquiring an additional 1,105,674 shares during the period. Pzena Investment Management LLC bought a new position in shares of Delta Air Lines in the 3rd quarter valued at about $281,206,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Delta Air Lines by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,497,487 shares of the transportation company’s stock worth $177,637,000 after buying an additional 10,332 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Delta Air Lines by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,344,414 shares of the transportation company’s stock worth $169,863,000 after buying an additional 14,624 shares during the period. Institutional investors own 69.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on DAL. JPMorgan Chase & Co. lifted their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Susquehanna lifted their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Sanford C. Bernstein lifted their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group reaffirmed a “buy” rating and set a $88.00 target price on shares of Delta Air Lines in a report on Tuesday. Finally, TD Cowen lifted their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. 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. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $75.83.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $63.60 on Thursday. The firm has a 50 day moving average of $56.08 and a 200-day moving average of $49.37. The stock has a market capitalization of $41.04 billion, a PE ratio of 8.83, a PEG ratio of 1.23 and a beta of 1.33. The company has a current ratio of 0.39, a quick ratio of 0.34 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.

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 the consensus estimate of $1.52 by ($0.02). The firm had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. 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 firm posted $2.03 earnings per share. On average, equities research analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

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

Insider Activity

In related news, 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 transaction of $1,077,017.40. Following the sale, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. The trade was a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction that occurred 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 sale, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,240 shares of company stock worth $8,044,893. 0.96% of the stock is currently owned by corporate insiders.

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.