Raymond James Trust N.A. Lowers Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Raymond James Trust N.A. lowered its stake in Delta Air Lines, Inc. (NYSE:DAL) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,875 shares of the transportation company’s stock after selling 469 shares during the period. Raymond James Trust N.A.’s holdings in Delta Air Lines were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC bought a new position in shares of Delta Air Lines during the third quarter valued at $281,206,000. Jupiter Asset Management Ltd. bought a new stake in Delta Air Lines during the 2nd quarter valued at about $60,217,000. Dimensional Fund Advisors LP raised its holdings in Delta Air Lines by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 9,933,785 shares of the transportation company’s stock worth $471,330,000 after buying an additional 1,105,674 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Delta Air Lines by 419.5% in the third quarter. Janney Montgomery Scott LLC now owns 562,129 shares of the transportation company’s stock worth $28,551,000 after buying an additional 453,926 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Delta Air Lines by 159.8% during the second quarter. American Century Companies Inc. now owns 588,436 shares of the transportation company’s stock valued at $27,915,000 after buying an additional 361,942 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Up 1.8 %

NYSE DAL opened at $64.48 on Tuesday. The stock’s 50-day moving average price is $55.40 and its 200-day moving average price is $49.19. The company has a market capitalization of $41.61 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 52 week low of $35.46 and a 52 week high of $66.25.

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

Delta Air Lines Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Cowen boosted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Susquehanna increased their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. raised their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Bank of America boosted their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $72.75.

Insider Activity

In related news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward H. Bastian sold 68,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the completion of the sale, the chief executive officer now owns 439,819 shares in the company, valued at approximately $24,775,004.27. The trade was a 13.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,240 shares of company stock worth $8,044,893 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

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.