Cinctive Capital Management LP Sells 8,907 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Cinctive Capital Management LP trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,005 shares of the transportation company’s stock after selling 8,907 shares during the quarter. Cinctive Capital Management LP’s holdings in Delta Air Lines were worth $6,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Huntington National Bank raised its stake in Delta Air Lines by 2.9% in the third quarter. Huntington National Bank now owns 6,679 shares of the transportation company’s stock valued at $339,000 after buying an additional 189 shares during the last quarter. Armstrong Advisory Group Inc. raised its position 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 purchasing an additional 200 shares during the last quarter. Oakworth Capital Inc. boosted its stake in Delta Air Lines by 16.9% in the 3rd quarter. Oakworth Capital Inc. now owns 1,412 shares of the transportation company’s stock worth $72,000 after purchasing an additional 204 shares in the last quarter. Total Investment Management Inc. grew 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 worth $374,000 after purchasing an additional 212 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Delta Air Lines by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,198 shares of the transportation company’s stock valued at $229,000 after purchasing an additional 239 shares in the last quarter. 69.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Allison C. Ausband sold 7,510 shares of Delta Air Lines stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total value of $470,276.20. Following the sale, the executive vice president now owns 58,897 shares in the company, valued at $3,688,130.14. The trade was a 11.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction 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 transaction, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock valued at $8,044,893 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $63.82 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The firm has a 50-day simple moving average of $56.75 and a 200-day simple moving average of $49.50. Delta Air Lines, Inc. has a 52 week low of $36.19 and a 52 week high of $66.25. The stock has a market capitalization of $41.18 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 1.21 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 for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same period last year, the firm posted $2.03 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company 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 of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DAL. Bank of America boosted their price objective 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. Sanford C. Bernstein upped their target price on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Susquehanna raised their price target on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a report on Friday, November 15th. Finally, Jefferies Financial Group raised their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines has an average rating of “Buy” and an average price target of $75.83.

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.