Investment Management Corp of Ontario Buys Shares of 5,356 Delta Air Lines, Inc. (NYSE:DAL)

Investment Management Corp of Ontario purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 5,356 shares of the transportation company’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new stake in Delta Air Lines during the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Delta Air Lines during the 3rd quarter worth $31,000. Kimelman & Baird LLC bought a new stake in shares of Delta Air Lines during the 2nd quarter valued at $31,000. Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines in the 2nd quarter worth $40,000. Finally, Quarry LP purchased a new stake in shares of Delta Air Lines in the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. This trade represents a 3.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction on Friday, November 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at $1,197,608.72. The trade was a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,240 shares of company stock valued at $8,044,893. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL opened at $64.53 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. Delta Air Lines, Inc. has a 1-year low of $36.34 and a 1-year high of $67.50. The business has a 50 day simple moving average of $58.22 and a two-hundred day simple moving average of $49.91. The stock has a market capitalization of $41.64 billion, a PE ratio of 8.96, a P/E/G ratio of 1.22 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last posted its 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 analysts’ expectations of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $2.03 earnings per share. On average, research analysts predict that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is 8.33%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DAL. The Goldman Sachs Group reissued a “buy” rating and set a $83.00 price target on shares of Delta Air Lines in a report on Friday, November 15th. TD Cowen increased their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. UBS Group restated a “buy” rating and set a $88.00 target price on shares of Delta Air Lines in a research note on Tuesday, November 26th. Citigroup upped their price target on shares of Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft raised 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. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and a consensus price target of $75.83.

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.