Delta Air Lines, Inc. (NYSE:DAL) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,703 shares of the transportation company’s stock after selling 600 shares during the quarter. State of Michigan Retirement System’s holdings in Delta Air Lines were worth $11,054,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DAL. WASHINGTON TRUST Co raised its holdings in shares of Delta Air Lines by 7.5% in the 4th quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company’s stock valued at $130,000 after buying an additional 150 shares during the period. Hemington Wealth Management grew its position in Delta Air Lines by 48.1% in the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 154 shares in the last quarter. Mason & Associates Inc grew its position in Delta Air Lines by 3.2% in the 4th quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company’s stock valued at $308,000 after acquiring an additional 160 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Delta Air Lines by 1.2% during the fourth quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company’s stock worth $865,000 after purchasing an additional 173 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its position in shares of Delta Air Lines by 10.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,820 shares of the transportation company’s stock worth $110,000 after purchasing an additional 175 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Delta Air Lines

In other news, SVP William C. Carroll sold 8,400 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $66.02, for a total value of $554,568.00. Following the completion of the sale, the senior vice president now directly owns 19,756 shares of the company’s stock, valued at approximately $1,304,291.12. This represents a 29.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rahul D. Samant sold 17,970 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $69.08, for a total transaction of $1,241,367.60. Following the transaction, the executive vice president now owns 35,889 shares in the company, valued at approximately $2,479,212.12. This trade represents a 33.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,886 shares of company stock valued at $11,116,463 in the last three months. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Price Performance

DAL stock opened at $56.83 on Thursday. The business has a 50 day moving average price of $63.99 and a 200 day moving average price of $57.56. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. The stock has a market cap of $36.74 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.75 and a beta of 1.34. Delta Air Lines, Inc. has a fifty-two week low of $37.29 and a fifty-two week high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.09. The business had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.28 EPS. Equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be given a $0.15 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.06%. Delta Air Lines’s dividend payout ratio (DPR) is presently 11.26%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DAL. Jefferies Financial Group upped their target price on shares of Delta Air Lines from $58.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Citigroup boosted their price target on shares of Delta Air Lines from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, UBS Group reaffirmed a “buy” rating and issued a $88.00 price target on shares of Delta Air Lines in a research report on Tuesday, November 26th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $78.22.

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 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.