Cinctive Capital Management LP Lowers Stake in Delta Air Lines, Inc. (NYSE:DAL)

Cinctive Capital Management LP lessened its position in Delta Air Lines, Inc. (NYSE:DAL) by 6.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor 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 also recently bought and sold shares of the business. Pzena Investment Management LLC acquired a new stake in Delta Air Lines during the 3rd quarter worth approximately $281,206,000. Castle Hook Partners LP acquired a new stake in shares of Delta Air Lines in the third quarter valued at $189,296,000. Jupiter Asset Management Ltd. purchased a new position in Delta Air Lines in the second quarter valued at $60,217,000. Dimensional Fund Advisors LP grew its stake in Delta Air Lines by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after purchasing an additional 1,105,674 shares in the last quarter. Finally, Sanders Capital LLC increased its holdings in Delta Air Lines by 2.8% during the 3rd quarter. Sanders Capital LLC now owns 27,841,592 shares of the transportation company’s stock worth $1,414,074,000 after purchasing an additional 749,099 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the sale, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward H. Bastian sold 68,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $24,775,004.27. This trade represents a 13.39 % 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 valued at $8,044,893. 0.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DAL. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $83.00 target price on shares of Delta Air Lines in a report on Friday, November 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $88.00 price target on shares of Delta Air Lines in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $75.83.

Delta Air Lines Price Performance

DAL stock opened at $63.82 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $41.18 billion, a P/E ratio of 8.86, a PEG ratio of 1.21 and a beta of 1.33. The business 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 twelve month low of $36.19 and a twelve month high of $66.25.

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). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the prior year, the company earned $2.03 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid 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 dividend payout ratio is presently 8.33%.

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.