Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 166,790 shares of the transportation company’s stock after selling 5,310 shares during the period. MetLife Investment Management LLC’s holdings in Delta Air Lines were worth $8,471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Delta Air Lines by 5,514.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the transportation company’s stock valued at $20,316,000 after buying an additional 392,875 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Delta Air Lines during the third quarter valued at about $1,157,000. Bridgewater Associates LP raised its position in shares of Delta Air Lines by 31.2% in the 3rd quarter. Bridgewater Associates LP now owns 232,401 shares of the transportation company’s stock valued at $11,804,000 after purchasing an additional 55,318 shares during the last quarter. Townsquare Capital LLC boosted its stake in Delta Air Lines by 2.6% in the 3rd quarter. Townsquare Capital LLC now owns 44,735 shares of the transportation company’s stock worth $2,272,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Rock Point Advisors LLC grew its position in Delta Air Lines by 1.0% during the 3rd quarter. Rock Point Advisors LLC now owns 161,327 shares of the transportation company’s stock worth $8,194,000 after purchasing an additional 1,648 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $63.62 on Friday. The company has a market capitalization of $41.05 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.23 and a beta of 1.33. Delta Air Lines, Inc. has a 12-month low of $35.46 and a 12-month high of $66.25. The business’s 50 day moving average is $56.41 and its two-hundred day moving average is $49.47. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a net margin of 7.71% and a return on equity of 29.93%. Delta Air Lines’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 EPS. Analysts expect that Delta Air Lines, Inc. will post 6.07 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. Delta Air Lines’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Ratings Changes

A number of research analysts have issued reports on DAL shares. Sanford C. Bernstein raised their price target on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. TD Cowen lifted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Bank of America upped their price objective on shares of Delta Air Lines from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 11th. BNP Paribas upgraded shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, UBS Group reaffirmed a “buy” rating and set a $88.00 price target on shares of Delta Air Lines in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and an average price target of $75.83.

Insider Activity at Delta Air Lines

In other news, EVP Joanne D. Smith sold 3,431 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.46, for a total value of $173,128.26. Following the transaction, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William C. Carroll sold 21,530 shares of Delta Air Lines stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the sale, the senior vice president now directly owns 19,756 shares in the company, valued at $1,197,608.72. This represents a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines 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.