Korea Investment CORP Trims Stake in Delta Air Lines, Inc. $DAL

Korea Investment CORP cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 20.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,177 shares of the transportation company’s stock after selling 39,917 shares during the period. Korea Investment CORP’s holdings in Delta Air Lines were worth $7,730,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DAL. Elevation Point Wealth Partners LLC grew its holdings in shares of Delta Air Lines by 9.5% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 42,424 shares of the transportation company’s stock worth $2,086,000 after acquiring an additional 3,693 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Delta Air Lines by 12.8% during the second quarter. Quadrant Capital Group LLC now owns 16,028 shares of the transportation company’s stock valued at $788,000 after purchasing an additional 1,821 shares in the last quarter. Wambolt & Associates LLC purchased a new stake in Delta Air Lines in the second quarter worth $204,000. Choreo LLC raised its holdings in Delta Air Lines by 24.0% in the second quarter. Choreo LLC now owns 22,882 shares of the transportation company’s stock worth $1,125,000 after purchasing an additional 4,429 shares in the last quarter. Finally, Inceptionr LLC bought a new position in Delta Air Lines in the second quarter worth $1,865,000. 69.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DAL shares. Wall Street Zen downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Delta Air Lines from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Delta Air Lines from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Susquehanna boosted their price target on Delta Air Lines from $68.00 to $70.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Finally, Raymond James Financial upped their price target on Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $71.68.

Insiders Place Their Bets

In other Delta Air Lines news, EVP John E. Laughter sold 23,323 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total transaction of $1,453,722.59. Following the transaction, the executive vice president owned 81,109 shares in the company, valued at approximately $5,055,523.97. This represents a 22.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $61.25, for a total transaction of $858,112.50. Following the sale, the senior vice president directly owned 15,816 shares in the company, valued at approximately $968,730. The trade was a 46.97% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.88% of the company’s stock.

Delta Air Lines Trading Up 0.1%

NYSE:DAL opened at $64.15 on Tuesday. The stock has a market cap of $41.88 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.35 and a beta of 1.52. The company has a quick ratio of 0.34, a current ratio of 0.40 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average price is $59.00 and its 200-day moving average price is $55.91. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data 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 company had revenue of $8.40 billion during the quarter. On average, equities research analysts forecast that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were paid a $0.1875 dividend. The ex-dividend date was Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. Delta Air Lines’s payout ratio is currently 10.56%.

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.