Joel Isaacson & Co. LLC Acquires New Position in Delta Air Lines, Inc. (NYSE:DAL)

Joel Isaacson & Co. LLC acquired a new stake in Delta Air Lines, Inc. (NYSE:DAL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,490 shares of the transportation company’s stock, valued at approximately $584,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Senator Investment Group LP boosted its holdings in shares of Delta Air Lines by 90.0% in the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock valued at $22,534,000 after purchasing an additional 225,000 shares during the period. Maryland State Retirement & Pension System raised its position in Delta Air Lines by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock valued at $2,384,000 after purchasing an additional 1,362 shares in the last quarter. Norden Group LLC lifted its holdings in shares of Delta Air Lines by 714.1% in the 1st quarter. Norden Group LLC now owns 112,048 shares of the transportation company’s stock worth $5,364,000 after buying an additional 98,285 shares during the period. Inspire Investing LLC bought a new position in shares of Delta Air Lines during the 1st quarter worth $907,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Delta Air Lines during the first quarter valued at $1,309,000. 69.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Susquehanna increased their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 9th. Bank of America increased their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Sanford C. Bernstein boosted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Jefferies Financial Group lifted their price target on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average target price of $65.40.

Insider Transactions at Delta Air Lines

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

Delta Air Lines Stock Performance

DAL opened at $54.12 on Friday. The company has a market cap of $34.92 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The firm’s 50-day moving average price is $47.33 and its 200-day moving average price is $47.43. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $56.48.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the previous year, the company posted $2.03 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post 6.17 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is presently 8.63%.

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.