Cornercap Investment Counsel Inc. Sells 24,647 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Cornercap Investment Counsel Inc. decreased its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 44.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,356 shares of the transportation company’s stock after selling 24,647 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Delta Air Lines were worth $1,593,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Senator Investment Group LP raised its stake in Delta Air Lines by 90.0% during the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after acquiring an additional 225,000 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Delta Air Lines by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock worth $13,644,000 after purchasing an additional 13,802 shares in the last quarter. Olstein Capital Management L.P. lifted its stake in Delta Air Lines by 32.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock valued at $8,888,000 after purchasing an additional 43,000 shares during the last quarter. River Road Asset Management LLC boosted its holdings in shares of Delta Air Lines by 22.8% during the 3rd quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock valued at $6,634,000 after acquiring an additional 24,249 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Delta Air Lines by 36.0% during the third quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock worth $6,859,000 after purchasing an additional 35,792 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total transaction of $1,077,017.40. Following the sale, the executive vice president now directly owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,240 shares of company stock valued at $8,044,893 over the last three months. 0.96% of the stock is owned by company insiders.

Delta Air Lines Stock Up 0.6 %

Shares of NYSE DAL opened at $64.84 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. Delta Air Lines, Inc. has a one year low of $35.28 and a one year high of $66.25. The firm’s 50 day simple moving average is $52.17 and its two-hundred day simple moving average is $48.51. The stock has a market capitalization of $41.84 billion, a P/E ratio of 9.01, a PEG ratio of 1.23 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 EPS. As a group, analysts expect that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DAL shares. The Goldman Sachs Group restated a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. TD Cowen upped their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays lifted their price target on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Bank of America raised their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $71.22.

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 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.