Beacon Investment Advisory Services Inc. Sells 881 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Beacon Investment Advisory Services Inc. cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 13.1% in the third quarter, Holdings Channel reports. The institutional investor owned 5,833 shares of the transportation company’s stock after selling 881 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Delta Air Lines were worth $296,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pzena Investment Management LLC bought a new stake in shares of Delta Air Lines during the third quarter worth $281,206,000. Castle Hook Partners LP bought a new stake in shares of Delta Air Lines during the third quarter worth $189,296,000. Jupiter Asset Management Ltd. bought a new stake in shares of Delta Air Lines during the second quarter worth $60,217,000. Dimensional Fund Advisors LP lifted its position in shares of Delta Air Lines by 12.5% during the second 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 during the last quarter. Finally, Sanders Capital LLC lifted its position in shares of Delta Air Lines by 2.8% during the third 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 last quarter. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Price Performance

DAL opened at $63.37 on Tuesday. The business’s 50-day moving average is $56.75 and its two-hundred day moving average is $49.50. Delta Air Lines, Inc. has a 1 year low of $36.34 and a 1 year high of $66.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The firm has a market capitalization of $40.89 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter last year, the firm earned $2.03 EPS. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. Delta Air Lines’s payout ratio is 8.33%.

Insider Transactions at Delta Air Lines

In other news, 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 sale, the chief executive officer now owns 439,819 shares in the company, valued at approximately $24,775,004.27. The trade was a 13.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the sale, the executive vice president now owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 13.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,240 shares of company stock worth $8,044,893. Insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DAL. Susquehanna lifted their target price on Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. Jefferies Financial Group raised their price target on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their price target 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. TD Cowen raised their price target on Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein raised their price target on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One investment 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 company’s stock. According to MarketBeat, Delta Air Lines presently 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.