Delta Air Lines, Inc. (NYSE:DAL) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 36,948 shares of the transportation company’s stock after buying an additional 699 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Delta Air Lines were worth $1,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Delta Air Lines by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,650 shares of the transportation company’s stock valued at $19,275,000 after purchasing an additional 6,915 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Delta Air Lines by 21.7% during the first quarter. Valeo Financial Advisors LLC now owns 20,457 shares of the transportation company’s stock worth $979,000 after buying an additional 3,648 shares during the period. Norden Group LLC grew its holdings in shares of Delta Air Lines by 714.1% during the first quarter. Norden Group LLC now owns 112,048 shares of the transportation company’s stock valued at $5,364,000 after buying an additional 98,285 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Delta Air Lines by 24.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,146 shares of the transportation company’s stock valued at $581,000 after acquiring an additional 2,406 shares during the period. Finally, Maryland State Retirement & Pension System raised its stake in Delta Air Lines by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock worth $2,384,000 after acquiring an additional 1,362 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Delta Air Lines

In related news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 121,961 shares in the company, valued at approximately $6,739,564.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $173,128.26. Following the completion of the transaction, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,921 shares of company stock valued at $5,080,586 in the last three months. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Stock Up 2.0 %

DAL opened at $58.49 on Thursday. The company has a fifty day moving average of $48.34 and a two-hundred day moving average of $47.64. The stock has a market capitalization of $37.74 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a fifty-two week low of $30.76 and a fifty-two week high of $59.07. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. Delta Air Lines’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $2.03 earnings per share. On average, research analysts expect that Delta Air Lines, Inc. will post 6.17 earnings per share for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DAL. TD Cowen dropped their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Sanford C. Bernstein upped their target price on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Jefferies Financial Group lifted their price objective on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America increased their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and an average target price of $65.40.

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.