Oregon Public Employees Retirement Fund cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 295,706 shares of the transportation company’s stock after selling 8,200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Delta Air Lines were worth $15,891,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Trust Co boosted its stake in shares of Delta Air Lines by 22.0% in the fourth quarter. Trust Co now owns 20,599 shares of the transportation company’s stock worth $1,013,000 after buying an additional 3,712 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Delta Air Lines by 10.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,247,785 shares of the transportation company’s stock worth $57,349,000 after buying an additional 117,858 shares during the period. Norman Fields Gottscho Capital Management LLC purchased a new position in shares of Delta Air Lines during the first quarter worth approximately $2,926,000. Liberty Capital Management Inc. raised its position in shares of Delta Air Lines by 5.3% in the first quarter. Liberty Capital Management Inc. now owns 23,792 shares of the transportation company’s stock worth $1,093,000 after buying an additional 1,207 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Delta Air Lines by 180.5% in the fourth quarter. Macquarie Group Ltd. now owns 237,005 shares of the transportation company’s stock worth $11,659,000 after buying an additional 152,505 shares in the last quarter. 87.65% of the stock is owned by institutional investors.
Delta Air Lines, Inc. (NYSE:DAL) traded up 0.90% during mid-day trading on Friday, reaching $49.48. 6,318,866 shares of the company’s stock traded hands. The firm has a 50 day moving average of $52.40 and a 200 day moving average of $49.46. Delta Air Lines, Inc. has a 1-year low of $35.84 and a 1-year high of $55.75. The firm has a market cap of $36.02 billion, a PE ratio of 9.81 and a beta of 1.20.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be paid a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.47%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, August 21st. Delta Air Lines’s dividend payout ratio is presently 16.10%.
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DAL has been the topic of several research reports. Cowen and Company reiterated an “outperform” rating and set a $58.00 price objective on shares of Delta Air Lines in a research note on Monday, April 17th. Deutsche Bank AG increased their price objective on shares of Delta Air Lines from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th. Vetr cut shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $52.43 target price for the company. in a research report on Tuesday, May 2nd. Citigroup Inc. upped their target price on shares of Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Finally, Imperial Capital restated an “in-line” rating and issued a $52.00 target price on shares of Delta Air Lines in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $60.74.
In other news, VP Craig M. Meynard sold 5,000 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the sale, the vice president now directly owns 7,437 shares of the company’s stock, valued at $410,968.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 25,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $48.55, for a total value of $1,213,750.00. Following the transaction, the chief executive officer now directly owns 285,508 shares in the company, valued at $13,861,413.40. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 399,000 shares of company stock worth $31,920 and sold 126,831 shares worth $6,703,732. 0.37% of the stock is owned by corporate insiders.
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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