Delta Air Lines, Inc. (DAL) Position Trimmed by Lowe Brockenbrough & Co. Inc.

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Lowe Brockenbrough & Co. Inc. trimmed its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,219 shares of the transportation company’s stock after selling 1,620 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Delta Air Lines were worth $7,184,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Delta Air Lines in the 3rd quarter valued at $116,000. Bell Rock Capital LLC acquired a new stake in shares of Delta Air Lines in the 3rd quarter valued at $122,000. Capital Advisors Ltd. LLC acquired a new stake in shares of Delta Air Lines in the 3rd quarter valued at $139,000. Point72 Hong Kong Ltd acquired a new stake in shares of Delta Air Lines in the 2nd quarter valued at $142,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Delta Air Lines in the 3rd quarter valued at $143,000. 87.66% of the stock is owned by hedge funds and other institutional investors.

NYSE:DAL opened at $53.51 on Friday. Delta Air Lines, Inc. has a 12-month low of $48.52 and a 12-month high of $61.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.37. The firm has a market capitalization of $36.69 billion, a PE ratio of 10.85, a P/E/G ratio of 0.61 and a beta of 0.93.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, October 11th. The transportation company reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.06. Delta Air Lines had a return on equity of 27.72% and a net margin of 7.87%. The business had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.96 billion. During the same period last year, the company earned $1.57 EPS. Analysts forecast that Delta Air Lines, Inc. will post 5.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 7th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.62%. Delta Air Lines’s dividend payout ratio is currently 28.40%.

Several equities research analysts have recently commented on the company. Stephens reissued a “buy” rating and issued a $68.00 target price on shares of Delta Air Lines in a research note on Monday, October 1st. Citigroup lowered their target price on Delta Air Lines from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, October 3rd. Cowen reissued an “outperform” rating and issued a $67.00 target price on shares of Delta Air Lines in a research note on Friday. Macquarie set a $69.00 target price on Delta Air Lines and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Bank of America set a $67.00 target price on Delta Air Lines and gave the company a “buy” rating in a research note on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $68.32.

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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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Further Reading: Return on Investment (ROI)

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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