Saturna Capital CORP Increases Position in Delta Air Lines, Inc. (DAL)

Saturna Capital CORP boosted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,770 shares of the transportation company’s stock after buying an additional 1,300 shares during the quarter. Saturna Capital CORP’s holdings in Delta Air Lines were worth $519,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Heritage Trust Co lifted its holdings in shares of Delta Air Lines by 39.7% during the third quarter. Heritage Trust Co now owns 11,875 shares of the transportation company’s stock valued at $573,000 after purchasing an additional 3,375 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Delta Air Lines by 1.7% during the third quarter. Asset Management One Co. Ltd. now owns 304,366 shares of the transportation company’s stock valued at $14,680,000 after purchasing an additional 5,181 shares during the last quarter. AMP Capital Investors Ltd lifted its holdings in shares of Delta Air Lines by 3.4% during the third quarter. AMP Capital Investors Ltd now owns 303,174 shares of the transportation company’s stock valued at $14,620,000 after purchasing an additional 10,034 shares during the last quarter. NWQ Investment Management Company LLC lifted its holdings in shares of Delta Air Lines by 18.9% during the third quarter. NWQ Investment Management Company LLC now owns 815,509 shares of the transportation company’s stock valued at $39,324,000 after purchasing an additional 129,393 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Delta Air Lines by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 28,986 shares of the transportation company’s stock valued at $1,397,000 after purchasing an additional 2,760 shares during the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

Shares of Delta Air Lines, Inc. (NYSE DAL) traded down $0.52 during mid-day trading on Wednesday, reaching $52.39. The company’s stock had a trading volume of 5,536,100 shares, compared to its average volume of 7,798,041. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.43. Delta Air Lines, Inc. has a 12 month low of $43.81 and a 12 month high of $55.75. The firm has a market cap of $37,723.41, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.61 and a beta of 1.29.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.04. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The company had revenue of $11.06 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same period in the prior year, the firm posted $1.70 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. sell-side analysts forecast that Delta Air Lines, Inc. will post 5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, November 16th. Delta Air Lines’s payout ratio is currently 24.50%.

Several equities research analysts have recently commented on DAL shares. Barclays started coverage on Delta Air Lines in a report on Thursday, August 10th. They set an “overweight” rating and a $70.00 target price for the company. Cowen reissued a “buy” rating and issued a $66.00 price objective on shares of Delta Air Lines in a research note on Monday, August 14th. BidaskClub raised Delta Air Lines from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Morgan Stanley reduced their price objective on Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, August 17th. Finally, Wolfe Research raised Delta Air Lines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.39.

In other news, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $53.06, for a total transaction of $8,449,274.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Peter W. Carter sold 19,809 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $50.42, for a total value of $998,769.78. Following the transaction, the executive vice president now directly owns 67,077 shares in the company, valued at approximately $3,382,022.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,810 shares of company stock worth $12,684,903. Insiders own 0.37% of the company’s stock.

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About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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