Douglas Lane & Associates LLC Has $101.05 Million Stock Position in Delta Air Lines, Inc. $DAL

Douglas Lane & Associates LLC lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 9.5% in the third quarter, HoldingsChannel reports. The fund owned 1,780,527 shares of the transportation company’s stock after selling 186,061 shares during the period. Delta Air Lines accounts for approximately 1.4% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 18th largest holding. Douglas Lane & Associates LLC’s holdings in Delta Air Lines were worth $101,045,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Foundations Investment Advisors LLC increased its position in Delta Air Lines by 2.6% in the second quarter. Foundations Investment Advisors LLC now owns 7,844 shares of the transportation company’s stock worth $386,000 after purchasing an additional 196 shares during the period. Nwam LLC boosted its stake in shares of Delta Air Lines by 3.1% in the 2nd quarter. Nwam LLC now owns 7,042 shares of the transportation company’s stock valued at $377,000 after purchasing an additional 212 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Delta Air Lines by 26.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,028 shares of the transportation company’s stock worth $51,000 after buying an additional 218 shares during the period. Sound Income Strategies LLC raised its stake in shares of Delta Air Lines by 14.7% during the second quarter. Sound Income Strategies LLC now owns 1,911 shares of the transportation company’s stock worth $94,000 after buying an additional 245 shares during the last quarter. Finally, Securian Asset Management Inc. lifted its holdings in Delta Air Lines by 0.7% in the second quarter. Securian Asset Management Inc. now owns 34,137 shares of the transportation company’s stock valued at $1,679,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

DAL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Delta Air Lines from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $80.00 price objective on shares of Delta Air Lines in a research note on Friday. BMO Capital Markets raised Delta Air Lines to a “strong-buy” rating in a research note on Tuesday, December 9th. Jefferies Financial Group decreased their target price on Delta Air Lines from $74.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Finally, Susquehanna increased their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-two have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $75.07.

Delta Air Lines Stock Up 1.3%

NYSE:DAL opened at $71.08 on Friday. Delta Air Lines, Inc. has a 1 year low of $34.74 and a 1 year high of $72.34. The stock has a 50-day moving average price of $62.23 and a two-hundred day moving average price of $57.81. The stock has a market cap of $46.41 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.55 and a beta of 1.38. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last released 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 return on equity of 23.83% and a net margin of 7.36%.The business had revenue of $8.40 billion for the quarter. As a group, equities analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Thursday, October 16th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $0.75 annualized dividend and a dividend yield of 1.1%. Delta Air Lines’s dividend payout ratio is currently 10.56%.

Insiders Place Their Bets

In related news, EVP John E. Laughter sold 23,323 shares of the business’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total value of $1,453,722.59. Following the sale, the executive vice president directly owned 81,109 shares of the company’s stock, valued at approximately $5,055,523.97. The trade was a 22.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP William C. Carroll sold 14,010 shares of the company’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 completion of the transaction, the senior vice president directly owned 15,816 shares of the company’s stock, valued at approximately $968,730. The trade was a 46.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.88% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.