Chevy Chase Trust Holdings LLC Has $17.97 Million Position in Delta Air Lines, Inc. (NYSE:DAL)

Chevy Chase Trust Holdings LLC decreased its stake in Delta Air Lines, Inc. (NYSE:DAL) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 353,849 shares of the transportation company’s stock after selling 8,592 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Delta Air Lines worth $17,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines in the third quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new position in shares of Delta Air Lines in the 3rd quarter worth $31,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at $31,000. Unique Wealth Strategies LLC bought a new stake in Delta Air Lines during the 2nd quarter valued at $40,000. Finally, Quarry LP acquired a new position in Delta Air Lines during the second quarter worth $41,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the sale, the executive vice president now owns 108,990 shares in the company, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alain Bellemare sold 19,490 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 121,961 shares in the company, valued at approximately $6,739,564.86. This trade represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,240 shares of company stock valued at $8,044,893 in the last three months. Company insiders own 0.96% of the company’s stock.

Delta Air Lines Price Performance

Shares of NYSE DAL opened at $62.56 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $57.37 and a two-hundred day simple moving average of $49.64. Delta Air Lines, Inc. has a 1-year low of $36.34 and a 1-year high of $66.25. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last posted its earnings results 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 business had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.65 billion. Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. Delta Air Lines’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.03 EPS. Analysts anticipate that Delta Air Lines, Inc. will post 6.07 earnings per share for the current year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s dividend payout ratio is presently 8.33%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DAL shares. Barclays increased their price objective on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Susquehanna raised their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Citigroup increased their target price on shares of Delta Air Lines from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $83.00 price target on shares of Delta Air Lines in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $75.83.

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.