Rhumbline Advisers Sells 31,800 Shares of Delta Air Lines, Inc. (DAL)

Rhumbline Advisers reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,135,560 shares of the transportation company’s stock after selling 31,800 shares during the period. Rhumbline Advisers owned about 0.17% of Delta Air Lines worth $65,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DAL. Pineno Levin & Ford Asset Management Inc. raised its holdings in Delta Air Lines by 1.8% in the third quarter. Pineno Levin & Ford Asset Management Inc. now owns 52,163 shares of the transportation company’s stock valued at $3,017,000 after acquiring an additional 930 shares in the last quarter. Comerica Bank raised its holdings in Delta Air Lines by 0.6% in the second quarter. Comerica Bank now owns 177,061 shares of the transportation company’s stock valued at $9,056,000 after acquiring an additional 976 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Delta Air Lines by 15.2% in the second quarter. Motley Fool Asset Management LLC now owns 7,564 shares of the transportation company’s stock valued at $375,000 after acquiring an additional 997 shares in the last quarter. Telemus Capital LLC raised its holdings in Delta Air Lines by 14.0% in the third quarter. Telemus Capital LLC now owns 8,140 shares of the transportation company’s stock valued at $471,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Strategic Advisors LLC raised its holdings in Delta Air Lines by 3.8% in the second quarter. Strategic Advisors LLC now owns 27,680 shares of the transportation company’s stock valued at $1,371,000 after acquiring an additional 1,002 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of Delta Air Lines in a report on Monday. They issued a “neutral” rating and a $64.00 price target on the stock. Deutsche Bank raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and upped their price target for the company from $53.00 to $60.00 in a report on Wednesday, October 17th. Morgan Stanley upped their price target on shares of Delta Air Lines from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, October 12th. Bank of America cut their price target on shares of Delta Air Lines from $67.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Finally, Buckingham Research cut their price target on shares of Delta Air Lines from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Delta Air Lines currently has a consensus rating of “Buy” and an average target price of $67.74.

DAL stock opened at $56.10 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.31. Delta Air Lines, Inc. has a 1-year low of $48.52 and a 1-year high of $60.79. The firm has a market cap of $38.96 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.65 and a beta of 0.94.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 11th. The transportation company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.06. Delta Air Lines had a net margin of 7.87% and a return on equity of 27.72%. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.96 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. Equities research analysts predict that Delta Air Lines, Inc. will post 5.52 earnings per share for the current fiscal year.

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.40 annualized dividend and a yield of 2.50%. Delta Air Lines’s payout ratio is 28.40%.

In other news, EVP Joanne D. Smith sold 4,353 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $57.50, for a total transaction of $250,297.50. Following the completion of the transaction, the executive vice president now owns 90,972 shares in the company, valued at $5,230,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Easter III sold 3,000 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $58.47, for a total transaction of $175,410.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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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 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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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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