Foundry Partners LLC Reduces Stake in Delta Air Lines, Inc. (NYSE:DAL)

Foundry Partners LLC trimmed its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 0.6% in the 3rd quarter, Holdings Channel reports. The fund owned 691,322 shares of the transportation company’s stock after selling 3,919 shares during the quarter. Delta Air Lines comprises 1.7% of Foundry Partners LLC’s portfolio, making the stock its 4th biggest holding. Foundry Partners LLC’s holdings in Delta Air Lines were worth $35,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines in the third quarter worth $25,000. Kimelman & Baird LLC acquired a new stake in shares of Delta Air Lines during the 2nd quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new stake in Delta Air Lines in the third quarter valued at about $31,000. Strategic Financial Concepts LLC acquired a new position in Delta Air Lines in the second quarter worth about $36,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Delta Air Lines during the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Down 1.7 %

NYSE:DAL opened at $63.64 on Thursday. The stock’s fifty day simple moving average is $54.27 and its 200-day simple moving average is $48.98. The firm has a market capitalization of $41.07 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 12-month low of $35.46 and a 12-month high of $66.25.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 EPS. Equities research analysts expect that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DAL shares. Sanford C. Bernstein increased their target price on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Jefferies Financial Group lifted their price objective on Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 11th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. TD Cowen boosted their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One 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 MarketBeat, Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $71.22.

Insider Activity

In related news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines 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 sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 21,530 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $60.62, for a total value 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 approximately $1,197,608.72. This trade represents a 52.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock worth $8,044,893 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Company 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.