Glenmede Trust Co. NA Sells 278 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Glenmede Trust Co. NA lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,149 shares of the transportation company’s stock after selling 278 shares during the quarter. Glenmede Trust Co. NA’s holdings in Delta Air Lines were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DAL. Future Financial Wealth Managment LLC purchased a new position in Delta Air Lines during the 3rd quarter worth $25,000. Kimelman & Baird LLC bought a new position in shares of Delta Air Lines during the second quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new position in Delta Air Lines during the third quarter worth about $31,000. Strategic Financial Concepts LLC bought a new stake in Delta Air Lines in the 2nd quarter worth about $36,000. Finally, Unique Wealth Strategies LLC purchased a new stake in Delta Air Lines in the 2nd quarter valued at about $40,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $62.56 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. Delta Air Lines, Inc. has a fifty-two week low of $36.34 and a fifty-two week high of $66.25. The stock has a market cap of $40.37 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35. The stock has a fifty day moving average of $57.37 and a 200-day moving average of $49.64.

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

Delta Air Lines Dividend Announcement

The company 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. The ex-dividend date was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.33%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a research report on Friday, November 15th. Barclays lifted their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Sanford C. Bernstein boosted their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $75.83.

Insider Transactions at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the sale, the senior vice president now directly owns 19,756 shares in the company, valued at $1,197,608.72. This represents a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by company insiders.

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.