PNC Financial Services Group Inc. Trims Stake in Delta Air Lines, Inc. (NYSE:DAL)

PNC Financial Services Group Inc. decreased its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,237 shares of the transportation company’s stock after selling 2,878 shares during the period. PNC Financial Services Group Inc.’s holdings in Delta Air Lines were worth $5,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Huntington National Bank grew its holdings in shares of Delta Air Lines by 2.9% during the third quarter. Huntington National Bank now owns 6,679 shares of the transportation company’s stock worth $339,000 after purchasing an additional 189 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake in Delta Air Lines by 13.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,645 shares of the transportation company’s stock worth $84,000 after buying an additional 200 shares in the last quarter. Oakworth Capital Inc. increased its holdings in shares of Delta Air Lines by 16.9% in the 3rd quarter. Oakworth Capital Inc. now owns 1,412 shares of the transportation company’s stock worth $72,000 after buying an additional 204 shares during the last quarter. Total Investment Management Inc. raised its position in shares of Delta Air Lines by 3.0% during the 3rd quarter. Total Investment Management Inc. now owns 7,357 shares of the transportation company’s stock valued at $374,000 after buying an additional 212 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Delta Air Lines by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,198 shares of the transportation company’s stock worth $229,000 after acquiring an additional 239 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Delta Air Lines Price Performance

NYSE DAL opened at $63.34 on Friday. Delta Air Lines, Inc. has a 1 year low of $35.46 and a 1 year high of $66.25. The stock has a market capitalization of $40.87 billion, a PE ratio of 8.80, a PEG ratio of 1.20 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. The business’s 50-day moving average is $55.01 and its 200 day moving average is $49.13.

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 analysts’ consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 EPS. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 0.95%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is currently 8.33%.

Insider Buying and Selling

In related news, EVP Allison C. Ausband sold 7,510 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the transaction, the executive vice president now directly owns 58,897 shares in the company, valued at $3,688,130.14. This trade represents a 11.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William C. Carroll sold 21,530 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 19,756 shares in the company, valued at $1,197,608.72. The trade was a 52.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock valued at $8,044,893 over the last three months. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. 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 report on Tuesday, October 8th. The Goldman Sachs Group reissued a “buy” rating and set a $83.00 price objective on shares of Delta Air Lines in a report on Friday, November 15th. Bank of America upped their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average price target of $72.75.

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.