Millburn Ridgefield Corp Purchases Shares of 3,775 Delta Air Lines, Inc. (NYSE:DAL)

Millburn Ridgefield Corp acquired a new position in Delta Air Lines, Inc. (NYSE:DAL) in the third quarter, Holdings Channel.com reports. The firm acquired 3,775 shares of the transportation company’s stock, valued at approximately $192,000.

Several other institutional investors have also recently modified their holdings of DAL. Future Financial Wealth Managment LLC purchased a new stake in Delta Air Lines in the third quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Delta Air Lines in the 3rd quarter worth approximately $31,000. Kimelman & Baird LLC purchased a new stake in shares of Delta Air Lines in the 2nd quarter valued at $31,000. Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines during the 2nd quarter valued at $40,000. Finally, Quarry LP purchased a new position in Delta Air Lines in the 2nd quarter worth $41,000. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Stock Down 1.3 %

Shares of NYSE:DAL opened at $62.56 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. Delta Air Lines, Inc. has a 52-week low of $36.34 and a 52-week high of $66.25. The firm has a market capitalization of $40.37 billion, a P/E ratio of 8.69, a P/E/G ratio of 1.21 and a beta of 1.35. The stock has a 50 day moving average price of $57.37 and a 200-day moving average price of $49.64.

Delta Air Lines (NYSE:DAL) last announced its 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 net margin of 7.71% and a return on equity of 29.93%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the prior year, the business posted $2.03 EPS. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is 8.33%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DAL shares. Bank of America raised their price objective on Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 11th. UBS Group reiterated a “buy” rating and issued a $88.00 price objective on shares of Delta Air Lines in a research report on Tuesday, November 26th. TD Cowen raised their target price 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. Sanford C. Bernstein increased their price target on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group raised their price target on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One investment 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, Delta Air Lines has an average rating of “Buy” and an average target price of $75.83.

Insider Transactions 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 shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the sale, the senior vice president now owns 19,756 shares of the company’s stock, valued at $1,197,608.72. This trade represents a 52.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allison C. Ausband sold 7,510 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $62.62, for a total value of $470,276.20. Following the completion of the transaction, the executive vice president now directly owns 58,897 shares in the company, valued at $3,688,130.14. This trade represents a 11.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. 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.