Retirement Systems of Alabama Trims Stake in Delta Air Lines, Inc. (DAL)

Retirement Systems of Alabama trimmed its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 644,385 shares of the transportation company’s stock after selling 7,762 shares during the period. Retirement Systems of Alabama owned approximately 0.09% of Delta Air Lines worth $31,923,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wagner Wealth Management LLC lifted its position in shares of Delta Air Lines by 375.0% during the first quarter. Wagner Wealth Management LLC now owns 1,900 shares of the transportation company’s stock worth $104,000 after purchasing an additional 1,500 shares in the last quarter. Fortis Advisors LLC lifted its position in shares of Delta Air Lines by 99.1% during the first quarter. Fortis Advisors LLC now owns 2,389 shares of the transportation company’s stock worth $131,000 after purchasing an additional 1,189 shares in the last quarter. Nvwm LLC lifted its position in shares of Delta Air Lines by 558.5% during the first quarter. Nvwm LLC now owns 2,700 shares of the transportation company’s stock worth $140,000 after purchasing an additional 2,290 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Delta Air Lines by 4,836.6% during the first quarter. Summit Trail Advisors LLC now owns 142,667 shares of the transportation company’s stock worth $143,000 after purchasing an additional 139,777 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its position in shares of Delta Air Lines by 45.6% during the first quarter. IHT Wealth Management LLC now owns 3,068 shares of the transportation company’s stock worth $159,000 after purchasing an additional 961 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.

In other news, insider Steven M. Sear sold 10,247 shares of the stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $54.35, for a total transaction of $556,924.45. Following the completion of the sale, the insider now owns 59,494 shares of the company’s stock, valued at $3,233,498.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward H. Bastian sold 25,000 shares of the stock in a transaction on Friday, April 20th. The stock was sold at an average price of $55.34, for a total transaction of $1,383,500.00. Following the transaction, the chief executive officer now owns 301,943 shares of the company’s stock, valued at approximately $16,709,525.62. The disclosure for this sale can be found here. Insiders have sold 62,247 shares of company stock valued at $3,351,474 in the last three months. 0.33% of the stock is owned by insiders.

DAL has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of Delta Air Lines to a “buy” rating in a research report on Monday, April 30th. Stifel Nicolaus upped their target price on shares of Delta Air Lines from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, April 5th. Morgan Stanley reduced their target price on shares of Delta Air Lines from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 12th. ValuEngine upgraded shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 17th. Finally, Stephens set a $71.00 price target on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Thursday, March 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Delta Air Lines presently has a consensus rating of “Buy” and an average price target of $66.36.

Shares of NYSE:DAL opened at $52.80 on Thursday. Delta Air Lines, Inc. has a 52 week low of $44.59 and a 52 week high of $60.79. The company has a quick ratio of 0.31, a current ratio of 0.40 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.45 and a beta of 1.12.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 12th. The transportation company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.05. Delta Air Lines had a net margin of 7.72% and a return on equity of 26.75%. The firm had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $11.73 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. research analysts anticipate that Delta Air Lines, Inc. will post 5.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 16th. Stockholders of record on Thursday, July 26th will be given a dividend of $0.35 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, July 25th. This represents a $1.40 annualized dividend and a dividend yield of 2.65%. Delta Air Lines’s dividend payout ratio is currently 24.75%.

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, international gateways, and airports 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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