Jolley Asset Management LLC decreased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 90,398 shares of the transportation company’s stock after selling 1,001 shares during the quarter. Delta Air Lines accounts for approximately 3.4% of Jolley Asset Management LLC’s holdings, making the stock its 2nd largest position. Jolley Asset Management LLC’s holdings in Delta Air Lines were worth $5,207,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Delta Air Lines by 8.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,384 shares of the transportation company’s stock worth $1,001,000 after acquiring an additional 1,416 shares during the period. DNB Asset Management AS boosted its stake in Delta Air Lines by 1.9% in the 3rd quarter. DNB Asset Management AS now owns 78,032 shares of the transportation company’s stock worth $4,495,000 after purchasing an additional 1,446 shares during the period. Confluence Investment Management LLC boosted its stake in Delta Air Lines by 94.7% in the 3rd quarter. Confluence Investment Management LLC now owns 481,219 shares of the transportation company’s stock worth $27,718,000 after purchasing an additional 234,121 shares during the period. Wealthfront Advisers LLC boosted its stake in Delta Air Lines by 3.3% in the 3rd quarter. Wealthfront Advisers LLC now owns 10,348 shares of the transportation company’s stock worth $596,000 after purchasing an additional 335 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its stake in Delta Air Lines by 15.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 16,307 shares of the transportation company’s stock worth $939,000 after purchasing an additional 2,142 shares during the period. Institutional investors own 86.14% of the company’s stock.

Several brokerages have commented on DAL. Deutsche Bank raised their target price on Delta Air Lines from $56.00 to $61.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Raymond James cut their target price on Delta Air Lines from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. They noted that the move was a valuation call. Cowen cut their target price on Delta Air Lines from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. ValuEngine downgraded Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Finally, Wolfe Research set a $69.00 target price on Delta Air Lines and gave the stock a “buy” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Delta Air Lines currently has a consensus rating of “Hold” and an average price target of $65.17.

Shares of NYSE:DAL traded up $0.04 on Wednesday, hitting $53.68. The company’s stock had a trading volume of 178,681 shares, compared to its average volume of 8,209,514. The company has a 50-day simple moving average of $56.87 and a 200 day simple moving average of $57.23. Delta Air Lines, Inc. has a 1 year low of $45.08 and a 1 year high of $63.44. The company has a market capitalization of $34.25 billion, a PE ratio of 9.49, a PEG ratio of 0.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.34 and a quick ratio of 0.29.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 10th. The transportation company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.06. Delta Air Lines had a return on equity of 32.84% and a net margin of 10.12%. The firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the firm posted $1.80 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Delta Air Lines, Inc. will post 7.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th will be issued a $0.403 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $1.61 annualized dividend and a dividend yield of 3.00%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.40. Delta Air Lines’s dividend payout ratio (DPR) is presently 28.50%.

In related news, EVP Rahul D. Samant sold 16,559 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $61.87, for a total transaction of $1,024,505.33. Following the transaction, the executive vice president now directly owns 51,039 shares of the company’s stock, valued at approximately $3,157,782.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO W Gilbert West sold 10,342 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $62.64, for a total value of $647,822.88. Following the transaction, the chief operating officer now directly owns 82,992 shares in the company, valued at $5,198,618.88. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

About Delta Air Lines

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Featured Story: What is the S&P 500 Index?

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).

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

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.