Ingalls & Snyder LLC Has $9.24 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Ingalls & Snyder LLC reduced its stake in Delta Air Lines, Inc. (NYSE:DAL) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,714 shares of the transportation company’s stock after selling 1,044 shares during the period. Ingalls & Snyder LLC’s holdings in Delta Air Lines were worth $9,239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC acquired a new position in shares of Delta Air Lines in the fourth quarter valued at $27,000. Crews Bank & Trust acquired a new position in shares of Delta Air Lines in the fourth quarter valued at $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Delta Air Lines in the third quarter valued at $31,000. Modus Advisors LLC acquired a new position in shares of Delta Air Lines in the fourth quarter valued at about $33,000. Finally, Harbor Investment Advisory LLC grew its stake in shares of Delta Air Lines by 217.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 555 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 380 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

DAL stock opened at $66.35 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a 12 month low of $37.29 and a 12 month high of $69.98. The firm has a market cap of $42.81 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.80 and a beta of 1.36. The company’s 50-day moving average price is $64.11 and its two-hundred day moving average price is $55.24.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.43%. The company had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.20 billion. During the same period last year, the company posted $1.28 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. Delta Air Lines’s payout ratio is currently 11.26%.

Insider Activity

In other news, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the sale, the chief executive officer now directly owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William C. Carroll sold 8,400 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $66.02, for a total transaction of $554,568.00. Following the completion of the sale, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,304,291.12. The trade was a 29.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,886 shares of company stock worth $11,116,463. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DAL. The Goldman Sachs Group restated a “buy” rating and issued a $83.00 price target on shares of Delta Air Lines in a research note on Friday, November 15th. StockNews.com upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Delta Air Lines from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Susquehanna upped their price target on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Finally, Barclays upped their price target on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $78.22.

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.