Horizon Kinetics Asset Management LLC Makes New $234,000 Investment in Delta Air Lines, Inc. (NYSE:DAL)

Horizon Kinetics Asset Management LLC purchased a new position in Delta Air Lines, Inc. (NYSE:DAL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,600 shares of the transportation company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also bought and sold shares of DAL. Future Financial Wealth Managment LLC purchased a new stake in shares of Delta Air Lines during the third quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Delta Air Lines during the third quarter valued at $31,000. Kimelman & Baird LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at $31,000. Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines during the second quarter valued at $40,000. Finally, Quarry LP purchased a new stake in shares of Delta Air Lines during the second quarter valued at $41,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction on Thursday, October 17th. The shares were 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 of the company’s stock, valued at approximately $6,739,564.86. The trade was a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 140,240 shares of company stock valued at $8,044,893 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DAL shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 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 boosted their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 11th. The Goldman Sachs Group restated a “buy” rating and set a $83.00 target price on shares of Delta Air Lines in a research report on Friday, November 15th. Jefferies Financial Group boosted their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Susquehanna boosted their target price on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 9th. One 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $75.83.

Delta Air Lines Stock Down 0.6 %

DAL stock opened at $64.14 on Wednesday. The firm has a 50-day moving average of $55.74 and a two-hundred day moving average of $49.27. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 1.20 and a beta of 1.33. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. Delta Air Lines, Inc. has a 12 month low of $35.46 and a 12 month high of $66.25.

Delta Air Lines (NYSE:DAL) last posted its 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). Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same quarter last year, the business posted $2.03 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 0.94%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

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.