Asset Allocation Strategies LLC Takes $219,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Asset Allocation Strategies LLC purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,321 shares of the transportation company’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DAL. Senator Investment Group LP increased its stake in Delta Air Lines by 90.0% in the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after buying an additional 225,000 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Delta Air Lines by 5.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock worth $13,644,000 after buying an additional 13,802 shares in the last quarter. KBC Group NV lifted its stake in Delta Air Lines by 143.7% in the third quarter. KBC Group NV now owns 56,611 shares of the transportation company’s stock worth $2,876,000 after acquiring an additional 33,378 shares during the period. Olstein Capital Management L.P. lifted its position in shares of Delta Air Lines by 32.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock worth $8,888,000 after purchasing an additional 43,000 shares during the period. Finally, River Road Asset Management LLC raised its stake in Delta Air Lines by 22.8% in the third quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock worth $6,634,000 after buying an additional 24,249 shares in the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 in the company, valued at approximately $1,197,608.72. The trade was a 52.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward H. Bastian sold 68,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $56.33, for a total transaction of $3,830,440.00. Following the completion of the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $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 a total of 140,240 shares of company stock valued at $8,044,893 over the last quarter. Insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $62.77 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 fifty-two week low of $36.34 and a fifty-two week high of $67.50. The stock’s 50-day simple moving average is $58.45 and its 200-day simple moving average is $49.99. The firm has a market capitalization of $40.50 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 6.08 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays raised their target price on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Bank of America boosted their price target on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Susquehanna boosted their price target on shares of Delta Air Lines from $50.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $75.83.

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.