10,490 Shares in Delta Air Lines, Inc. (NYSE:DAL) Acquired by Bank of Stockton

Bank of Stockton acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,490 shares of the transportation company’s stock, valued at approximately $533,000.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on DAL. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. 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 report on Tuesday, October 8th. Barclays increased their target price 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. Jefferies Financial Group upped their target price on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America boosted their price target on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $65.40.

Delta Air Lines Stock Up 0.6 %

Shares of DAL stock traded up $0.31 on Friday, hitting $55.08. The company’s stock had a trading volume of 1,304,688 shares, compared to its average volume of 9,423,110. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The stock has a market capitalization of $35.54 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $56.48. The firm’s fifty day moving average price is $46.76 and its 200-day moving average price is $47.33.

Delta Air Lines (NYSE:DAL) last announced 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 company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. During the same period in the prior year, the firm earned $2.03 EPS. Delta Air Lines’s quarterly revenue was up 1.2% on a year-over-year basis. Research analysts anticipate that Delta Air Lines, Inc. will post 6.17 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 1.09%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.63%.

Insider Activity

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

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.