Delta Air Lines (NYSE:DAL) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Delta Air Lines (NYSE:DAL) from a buy rating to a hold rating in a report released on Friday.

Several other analysts have also recently weighed in on DAL. Bank of America increased their price target on shares of Delta Air Lines from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Raymond James Financial increased their price objective on Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 10th. Rothschild & Co Redburn raised their target price on Delta Air Lines from $65.00 to $72.00 in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Delta Air Lines from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. increased their price target on Delta Air Lines from $72.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines presently has a consensus rating of “Buy” and an average target price of $71.68.

Delta Air Lines Stock Up 0.1%

Shares of NYSE:DAL opened at $64.31 on Friday. Delta Air Lines has a 52-week low of $34.74 and a 52-week high of $69.98. The stock has a market cap of $41.99 billion, a P/E ratio of 9.06, a PEG ratio of 1.35 and a beta of 1.52. The business has a fifty day moving average of $58.90 and a two-hundred day moving average of $55.76. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The firm had revenue of $8.40 billion for the quarter. On average, research analysts expect that Delta Air Lines will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Thursday, October 16th were issued a $0.1875 dividend. The ex-dividend date was Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.2%. Delta Air Lines’s dividend payout ratio (DPR) is 10.56%.

Insider Buying and Selling at Delta Air Lines

In other news, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the completion of the transaction, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. The trade was a 46.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the sale, the executive vice president owned 81,109 shares in the company, valued at $5,055,523.97. The trade was a 22.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Savant Capital LLC increased its stake in Delta Air Lines by 84.0% in the second quarter. Savant Capital LLC now owns 181,995 shares of the transportation company’s stock valued at $8,951,000 after purchasing an additional 83,072 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Delta Air Lines by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company’s stock valued at $160,900,000 after buying an additional 92,772 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Delta Air Lines by 8.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 825,916 shares of the transportation company’s stock valued at $40,619,000 after buying an additional 67,002 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Delta Air Lines during the 2nd quarter worth $15,138,000. Finally, Jefferies Financial Group Inc. raised its stake in Delta Air Lines by 1,169.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company’s stock worth $316,000 after acquiring an additional 6,677 shares in the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

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.