Pitcairn Co. Has $1.13 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

Pitcairn Co. boosted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,257 shares of the transportation company’s stock after purchasing an additional 2,958 shares during the quarter. Pitcairn Co.’s holdings in Delta Air Lines were worth $1,130,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Allison C. Ausband sold 7,510 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $62.62, for a total value of $470,276.20. Following the transaction, the executive vice president now directly owns 58,897 shares of the company’s stock, valued at $3,688,130.14. This represents a 11.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,240 shares of company stock valued at $8,044,893. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Performance

NYSE:DAL opened at $63.34 on Monday. The firm has a market capitalization of $40.87 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 1.20 and a beta of 1.33. Delta Air Lines, Inc. has a 1-year low of $35.46 and a 1-year high of $66.25. The business’s 50-day moving average price is $55.01 and its two-hundred day moving average price is $49.11. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data 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 return on equity of 29.93% and a net margin of 7.71%. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the business earned $2.03 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is presently 8.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Susquehanna raised their target price on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein upped their price target on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen raised their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $72.75.

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.