Teachers Advisors LLC Has $127.37 Million Stake in Delta Air Lines, Inc. (DAL)
Teachers Advisors LLC grew its position in Delta Air Lines, Inc. (NYSE:DAL) by 65.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,370,124 shares of the transportation company’s stock after acquiring an additional 933,428 shares during the period. Teachers Advisors LLC owned about 0.33% of Delta Air Lines worth $127,370,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. South State Corp bought a new position in shares of Delta Air Lines in the 2nd quarter valued at about $2,820,000. Raymond James Trust N.A. grew its position in shares of Delta Air Lines by 2.9% in the 2nd quarter. Raymond James Trust N.A. now owns 15,053 shares of the transportation company’s stock valued at $808,000 after acquiring an additional 430 shares during the period. Symphony Asset Management LLC bought a new position in shares of Delta Air Lines in the 2nd quarter valued at about $249,000. AJO LP grew its position in shares of Delta Air Lines by 21.2% in the 2nd quarter. AJO LP now owns 5,637,157 shares of the transportation company’s stock valued at $302,941,000 after acquiring an additional 986,803 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Delta Air Lines by 5.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,331 shares of the transportation company’s stock valued at $447,000 after acquiring an additional 399 shares during the period. 86.49% of the stock is owned by institutional investors.
In other Delta Air Lines news, VP Craig M. Meynard sold 5,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.26, for a total transaction of $276,300.00. Following the completion of the transaction, the vice president now owns 7,437 shares in the company, valued at $410,968.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George N. Mattson bought 6,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average price of $45.44 per share, with a total value of $272,640.00. Following the transaction, the director now directly owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 275,000 shares of company stock valued at $294,160 and have sold 75,700 shares valued at $4,171,150. 0.37% of the stock is owned by company insiders.
DAL has been the subject of a number of analyst reports. Bank of America Corporation lifted their price objective on shares of Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Vetr downgraded shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 price objective for the company. in a research report on Thursday, June 1st. Stifel Nicolaus reissued a “buy” rating on shares of Delta Air Lines in a research report on Friday, May 26th. ValuEngine downgraded shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $62.00 price objective (up previously from $58.00) on shares of Delta Air Lines in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $61.34.
Shares of Delta Air Lines, Inc. (DAL) traded down 0.53% during mid-day trading on Wednesday, reaching $48.78. 1,764,315 shares of the company’s stock traded hands. Delta Air Lines, Inc. has a 12-month low of $36.59 and a 12-month high of $55.75. The company has a market cap of $35.51 billion, a P/E ratio of 9.67 and a beta of 1.25. The firm has a 50-day moving average of $48.69 and a 200 day moving average of $49.19.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.02). The business had revenue of $10.79 billion for the quarter, compared to the consensus estimate of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. Delta Air Lines’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 EPS. Equities analysts forecast that Delta Air Lines, Inc. will post $5.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Monday, August 21st. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.25%.
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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