State of New Jersey Common Pension Fund D Reduces Stake in Delta Air Lines, Inc. (NYSE:DAL)

State of New Jersey Common Pension Fund D cut its stake in Delta Air Lines, Inc. (NYSE:DAL) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,039 shares of the transportation company’s stock after selling 5,435 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Delta Air Lines were worth $2,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Senator Investment Group LP increased its position in Delta Air Lines by 90.0% during the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after purchasing an additional 225,000 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Delta Air Lines by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock valued at $13,644,000 after buying an additional 13,802 shares during the period. Olstein Capital Management L.P. increased its holdings in shares of Delta Air Lines by 32.6% during the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock worth $8,888,000 after buying an additional 43,000 shares during the last quarter. River Road Asset Management LLC raised its position in shares of Delta Air Lines by 22.8% during the 3rd quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock valued at $6,634,000 after buying an additional 24,249 shares during the period. Finally, abrdn plc lifted its holdings in Delta Air Lines by 36.0% in the third quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock valued at $6,859,000 after acquiring an additional 35,792 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Buying and Selling

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP William C. Carroll sold 21,530 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total value of $1,305,148.60. Following the completion of the transaction, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,197,608.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joanne D. Smith sold 3,431 shares of Delta Air Lines stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares in the company, valued at $5,499,635.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,240 shares of company stock worth $8,044,893. Corporate insiders own 0.96% of the company’s stock.

Delta Air Lines Trading Up 0.6 %

NYSE:DAL opened at $64.46 on Thursday. Delta Air Lines, Inc. has a 12-month low of $34.87 and a 12-month high of $65.74. The firm has a market cap of $41.59 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average price of $51.72 and a 200 day moving average price of $48.40.

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

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a $0.15 dividend. The ex-dividend date was Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. Delta Air Lines’s payout ratio is 8.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen raised their target price on Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday. Susquehanna boosted their price objective on shares of Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 9th. Bank of America increased their target price on shares of Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. boosted their price target on shares of Delta Air Lines from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, BNP Paribas raised shares of Delta Air Lines to a “strong-buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $67.73.

Delta Air Lines Company 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.