Delta Air Lines, Inc. (NYSE:DAL) Holdings Trimmed by Synovus Financial Corp

Synovus Financial Corp lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 22.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,277 shares of the transportation company’s stock after selling 2,992 shares during the quarter. Synovus Financial Corp’s holdings in Delta Air Lines were worth $522,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fifth Third Wealth Advisors LLC acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at $617,000. Richard W. Paul & Associates LLC boosted its position in shares of Delta Air Lines by 68.7% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 357 shares during the period. &PARTNERS acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at $364,000. Unique Wealth Strategies LLC acquired a new position in shares of Delta Air Lines in the 2nd quarter valued at $40,000. Finally, American Financial Advisors LLC boosted its position in shares of Delta Air Lines by 5.0% in the 2nd quarter. American Financial Advisors LLC now owns 154,778 shares of the transportation company’s stock valued at $7,343,000 after purchasing an additional 7,378 shares during the period. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Down 0.4 %

DAL opened at $60.80 on Wednesday. Delta Air Lines, Inc. has a fifty-two week low of $36.34 and a fifty-two week high of $67.50. The business has a 50-day moving average of $59.97 and a 200-day moving average of $50.45. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.39 and a quick ratio of 0.34. The company has a market capitalization of $39.23 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $14.65 billion. During the same period last year, the business earned $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts forecast that Delta Air Lines, Inc. will post 6.08 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Insider Activity at Delta Air Lines

In related news, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward H. Bastian sold 68,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $56.33, for a total value of $3,830,440.00. Following the completion of the transaction, the chief executive officer now directly owns 439,819 shares in the company, valued at $24,775,004.27. The trade was a 13.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,240 shares of company stock valued at $8,044,893. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DAL shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a research report on Friday, November 15th. UBS Group reiterated a “buy” rating and issued a $88.00 price target on shares of Delta Air Lines in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft increased their price target on Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Bank of America increased their price objective on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group increased their price objective on Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $75.83.

Delta Air Lines Company 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.