Harvest Portfolios Group Inc. Cuts Stock Holdings in Delta Air Lines, Inc. $DAL

Harvest Portfolios Group Inc. decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,907 shares of the transportation company’s stock after selling 5,608 shares during the period. Harvest Portfolios Group Inc.’s holdings in Delta Air Lines were worth $5,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DAL. Kingstone Capital Partners Texas LLC bought a new stake in Delta Air Lines during the second quarter worth about $386,364,000. Pacer Advisors Inc. raised its holdings in shares of Delta Air Lines by 5,224.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,709 shares of the transportation company’s stock valued at $189,081,000 after buying an additional 4,255,262 shares in the last quarter. AQR Capital Management LLC lifted its position in Delta Air Lines by 149.9% in the 1st quarter. AQR Capital Management LLC now owns 5,963,882 shares of the transportation company’s stock worth $246,487,000 after buying an additional 3,577,489 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Delta Air Lines by 347.4% in the first quarter. Ameriprise Financial Inc. now owns 4,232,974 shares of the transportation company’s stock worth $184,909,000 after buying an additional 3,286,741 shares in the last quarter. Finally, Nuveen LLC bought a new position in Delta Air Lines during the first quarter valued at approximately $122,849,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Down 1.1%

NYSE DAL opened at $57.89 on Friday. The stock has a market cap of $37.80 billion, a P/E ratio of 8.15, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The stock has a 50 day simple moving average of $59.15 and a two-hundred day simple moving average of $54.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The company had revenue of $8.40 billion during the quarter. On average, analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Thursday, October 16th. Delta Air Lines’s payout ratio is 10.56%.

Insider Transactions at Delta Air Lines

In related news, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the sale, the senior vice president owned 15,816 shares of the company’s stock, valued at $968,730. The trade was a 46.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael P. Huerta sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the sale, the director owned 33,245 shares in the company, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 39,833 shares of company stock valued at $2,463,585 in the last three months. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DAL shares. Dbs Bank upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. The Goldman Sachs Group lifted their target price on shares of Delta Air Lines from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Bernstein Bank boosted their price target on shares of Delta Air Lines from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. Barclays raised their price objective on Delta Air Lines from $58.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Finally, UBS Group boosted their target price on Delta Air Lines from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $71.53.

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.