Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by NovaPoint Capital LLC

NovaPoint Capital LLC reduced its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,924 shares of the transportation company’s stock after selling 2,416 shares during the quarter. NovaPoint Capital LLC’s holdings in Delta Air Lines were worth $1,672,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new stake in Delta Air Lines during the 3rd quarter worth $25,000. Kimelman & Baird LLC acquired a new position in shares of Delta Air Lines during the second quarter worth about $31,000. Strategic Financial Concepts LLC purchased a new stake in shares of Delta Air Lines in the second quarter worth about $36,000. Unique Wealth Strategies LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $40,000. Finally, Quarry LP purchased a new stake in shares of Delta Air Lines during the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Trading Up 1.0 %

Delta Air Lines stock opened at $55.80 on Friday. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $56.48. The stock has a market capitalization of $36.01 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. The firm has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $47.14. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results 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). The business 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 7.46% and a return on equity of 36.02%. Delta Air Lines’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 earnings per share. As a group, equities research analysts expect that Delta Air Lines, Inc. will post 6.17 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is 8.63%.

Insider Activity at Delta Air Lines

In related news, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the sale, the executive vice president now owns 121,961 shares in the company, valued at approximately $6,739,564.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the completion of the sale, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. 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. Also, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DAL. Barclays increased their price objective on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. TD Cowen lowered their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Sanford C. Bernstein boosted their price objective 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. JPMorgan Chase & Co. raised their target price on Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Susquehanna boosted their price target 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. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock 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.