Delta Air Lines, Inc. $DAL Stake Decreased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 40.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,600 shares of the transportation company’s stock after selling 26,979 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Delta Air Lines were worth $1,948,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new position in shares of Delta Air Lines during the second quarter valued at approximately $25,000. Activest Wealth Management increased its stake in shares of Delta Air Lines by 2,280.8% during the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 593 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Delta Air Lines during the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Delta Air Lines during the first quarter valued at approximately $33,000. Finally, Hara Capital LLC acquired a new position in shares of Delta Air Lines during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DAL. Jefferies Financial Group lifted their price target on shares of Delta Air Lines from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. TD Cowen lifted their price target on shares of Delta Air Lines from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Bernstein Bank raised their price objective on shares of Delta Air Lines from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, July 11th. Barclays raised their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Wolfe Research raised their price objective on shares of Delta Air Lines from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $71.53.

Delta Air Lines Trading Up 1.0%

Delta Air Lines stock opened at $62.34 on Wednesday. The company has a 50 day moving average price of $59.59 and a 200 day moving average price of $52.47. The firm has a market capitalization of $40.71 billion, a price-to-earnings ratio of 8.78, a P/E/G ratio of 1.41 and a beta of 1.50. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $8.40 billion during the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. Research analysts forecast that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Thursday, October 16th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines’s payout ratio is presently 10.56%.

Insider Buying and Selling at Delta Air Lines

In related news, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the completion of the sale, the director owned 33,245 shares of the company’s stock, valued at approximately $2,017,971.50. The trade was a 6.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the transaction, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. This represents a 46.97% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

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.