MAI Capital Management Sells 2,982 Shares of Delta Air Lines, Inc. (NYSE:DAL)

MAI Capital Management cut its position in Delta Air Lines, Inc. (NYSE:DAL) by 21.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,068 shares of the transportation company’s stock after selling 2,982 shares during the quarter. MAI Capital Management’s holdings in Delta Air Lines were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of DAL. Senator Investment Group LP increased its position in Delta Air Lines by 90.0% in the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after buying an additional 225,000 shares during the period. Crossmark Global Holdings Inc. increased its position in Delta Air Lines by 5.4% during the third quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock worth $13,644,000 after acquiring an additional 13,802 shares during the period. KBC Group NV increased its position in Delta Air Lines by 143.7% during the third quarter. KBC Group NV now owns 56,611 shares of the transportation company’s stock worth $2,876,000 after acquiring an additional 33,378 shares during the period. Olstein Capital Management L.P. raised its stake in Delta Air Lines by 32.6% during the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock valued at $8,888,000 after purchasing an additional 43,000 shares during the last quarter. Finally, River Road Asset Management LLC boosted its holdings in Delta Air Lines by 22.8% in the 3rd quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock valued at $6,634,000 after purchasing an additional 24,249 shares during the period. Institutional investors own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the company’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 owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This represents a 3.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines 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 directly owns 19,756 shares of the company’s stock, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,240 shares of company stock worth $8,044,893. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

NYSE DAL opened at $63.34 on Friday. The stock’s 50 day simple moving average is $55.01 and its 200 day simple moving average is $49.15. Delta Air Lines, Inc. has a one year low of $35.46 and a one year high of $66.25. The firm has a market cap of $40.87 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. 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 (NYSE:DAL) last announced its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $14.65 billion. During the same quarter in the previous year, the company posted $2.03 EPS. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DAL. Sanford C. Bernstein upped their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Bank of America lifted their price objective on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Barclays upped their target price on Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. TD Cowen lifted their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a report on Friday, November 15th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $72.75.

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.