ProVise Management Group LLC cut its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 43.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,990 shares of the transportation company’s stock after selling 5,300 shares during the quarter. ProVise Management Group LLC’s holdings in Delta Air Lines were worth $404,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC acquired a new stake in shares of Delta Air Lines in the third quarter valued at approximately $139,000. Truvestments Capital LLC acquired a new stake in shares of Delta Air Lines in the third quarter valued at approximately $143,000. Huntington National Bank grew its position in shares of Delta Air Lines by 73.8% in the second quarter. Huntington National Bank now owns 2,701 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 1,147 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Delta Air Lines in the second quarter valued at approximately $142,000. Finally, Baker Ellis Asset Management LLC acquired a new stake in shares of Delta Air Lines in the second quarter valued at approximately $163,000. Institutional investors and hedge funds own 88.09% of the company’s stock.
Shares of NYSE DAL opened at $56.73 on Friday. Delta Air Lines, Inc. has a 1 year low of $48.33 and a 1 year high of $60.79. The company has a market cap of $38.03 billion, a P/E ratio of 11.51, a PEG ratio of 0.64 and a beta of 0.94. The company has a current ratio of 0.37, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 7th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, November 6th. Delta Air Lines’s dividend payout ratio is currently 28.40%.
Several analysts have recently commented on the stock. Deutsche Bank upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and increased their price target for the company from $53.00 to $60.00 in a research report on Wednesday, October 17th. Morgan Stanley raised their target price on shares of Delta Air Lines from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, October 12th. Bank of America decreased their target price on shares of Delta Air Lines from $67.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Buckingham Research decreased their target price on shares of Delta Air Lines from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Finally, Macquarie set a $69.00 target price on shares of Delta Air Lines and gave the stock a “buy” rating in a research report on Monday, October 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $67.99.
In other Delta Air Lines news, Director William H. Easter III sold 3,000 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $58.47, for a total transaction of $175,410.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joanne D. Smith sold 4,353 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $57.50, for a total transaction of $250,297.50. Following the transaction, the executive vice president now directly owns 90,972 shares in the company, valued at approximately $5,230,890. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,353 shares of company stock worth $2,350,708. 0.33% of the stock is currently owned by insiders.
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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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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