Zweig DiMenna Associates LLC Lowers Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Zweig DiMenna Associates LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 11.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 199,871 shares of the transportation company’s stock after selling 26,000 shares during the period. Zweig DiMenna Associates LLC’s holdings in Delta Air Lines were worth $10,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DAL. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines in the 3rd quarter valued at $25,000. Kimelman & Baird LLC purchased a new stake in shares of Delta Air Lines in the second quarter worth $31,000. Strategic Financial Concepts LLC bought a new stake in Delta Air Lines during the second quarter valued at $36,000. Unique Wealth Strategies LLC purchased a new position in Delta Air Lines during the second quarter worth about $40,000. Finally, Quarry LP bought a new position in Delta Air Lines in the 2nd quarter worth about $41,000. Institutional investors own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

DAL has been the subject of a number of research analyst reports. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Susquehanna lifted 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. Jefferies Financial Group boosted their price target on shares of Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen lowered their price objective on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. upped 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 report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $65.40.

Insiders Place Their Bets

In other 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 transaction of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at approximately $6,739,564.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Alain Bellemare sold 19,490 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 121,961 shares in the company, valued at $6,739,564.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was 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 of the company’s stock, valued at approximately $5,499,635.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Up 0.2 %

NYSE DAL opened at $54.78 on Friday. The firm has a market cap of $35.35 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. Delta Air Lines, Inc. has a 1-year low of $30.60 and a 1-year high of $56.48. The stock has a 50-day moving average of $46.76 and a 200-day moving average of $47.33. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data 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). The company had revenue of $15.68 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. As a group, sell-side analysts forecast that Delta Air Lines, Inc. will post 6.17 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.60 annualized dividend and a yield of 1.10%. Delta Air Lines’s payout ratio is currently 8.63%.

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.