Narwhal Capital Management Has $861,000 Position in Delta Air Lines, Inc. (NYSE:DAL)

Narwhal Capital Management reduced its position in Delta Air Lines, Inc. (NYSE:DAL) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,957 shares of the transportation company’s stock after selling 6,093 shares during the period. Narwhal Capital Management’s holdings in Delta Air Lines were worth $861,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines during the third quarter valued at approximately $25,000. Kimelman & Baird LLC bought a new stake in Delta Air Lines in the second quarter worth $31,000. Unique Wealth Strategies LLC acquired a new position in Delta Air Lines during the second quarter worth $40,000. Quarry LP bought a new position in Delta Air Lines during the second quarter valued at about $41,000. Finally, Richard W. Paul & Associates LLC lifted its position in shares of Delta Air Lines by 68.7% in the second quarter. Richard W. Paul & Associates LLC now owns 877 shares of the transportation company’s stock worth $42,000 after buying an additional 357 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on DAL. Sanford C. Bernstein increased their price objective on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Barclays lifted their price target on shares of Delta Air Lines from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Bank of America upped their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 11th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Finally, TD Cowen cut their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. One 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.40.

Insider Transactions at Delta Air Lines

In related news, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $55.26, for a total value of $1,077,017.40. Following the sale, the executive vice president now owns 121,961 shares of the company’s stock, valued at $6,739,564.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines 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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanne D. Smith sold 3,431 shares of the company’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 sale, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Delta Air Lines Trading Down 0.5 %

Shares of DAL opened at $54.80 on Wednesday. The stock’s 50-day moving average price is $46.44 and its 200 day moving average price is $47.27. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a 12-month low of $30.60 and a 12-month high of $56.48.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, October 10th. Delta Air Lines’s dividend payout ratio is 8.63%.

Delta Air Lines Company 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.