Retirement Systems of Alabama Sells 33,712 Shares of Delta Air Lines, Inc. (DAL)
Retirement Systems of Alabama lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 681,279 shares of the transportation company’s stock after selling 33,712 shares during the period. Retirement Systems of Alabama owned 0.10% of Delta Air Lines worth $32,851,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Roundview Capital LLC lifted its holdings in shares of Delta Air Lines by 0.3% in the second quarter. Roundview Capital LLC now owns 5,115 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 15 shares in the last quarter. Patten Group Inc. lifted its stake in shares of Delta Air Lines by 0.3% during the first quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock valued at $420,000 after buying an additional 30 shares during the period. Traynor Capital Management Inc. lifted its stake in shares of Delta Air Lines by 1.2% during the second quarter. Traynor Capital Management Inc. now owns 4,911 shares of the transportation company’s stock valued at $246,000 after buying an additional 58 shares during the period. MUFG Securities EMEA plc lifted its stake in shares of Delta Air Lines by 1.2% during the second quarter. MUFG Securities EMEA plc now owns 5,307 shares of the transportation company’s stock valued at $285,000 after buying an additional 65 shares during the period. Finally, Advisory Services Network LLC lifted its stake in shares of Delta Air Lines by 3.0% during the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after buying an additional 75 shares during the period. 87.54% of the stock is currently owned by institutional investors.
Delta Air Lines, Inc. (NYSE:DAL) traded down $0.30 during trading on Monday, hitting $48.89. 7,048,400 shares of the stock traded hands, compared to its average volume of 7,907,556. Delta Air Lines, Inc. has a 52 week low of $43.81 and a 52 week high of $55.75. The firm has a market capitalization of $34,610.00, a price-to-earnings ratio of 10.19, a P/E/G ratio of 1.48 and a beta of 1.28. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.54.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.04. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. sell-side analysts forecast that Delta Air Lines, Inc. will post 5.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, November 16th. Delta Air Lines’s payout ratio is currently 24.45%.
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Several brokerages recently issued reports on DAL. Barclays PLC began coverage on shares of Delta Air Lines in a research note on Thursday, August 10th. They set an “overweight” rating and a $70.00 price objective on the stock. Vetr downgraded shares of Delta Air Lines from a “strong-buy” rating to a “sell” rating and set a $45.16 price objective on the stock. in a research note on Monday. BidaskClub downgraded shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Wolfe Research raised shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co upped their price objective on shares of Delta Air Lines from $63.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $63.39.
In other news, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.06, for a total value of $8,449,274.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George N. Mattson acquired 6,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost 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. Insiders sold 200,001 shares of company stock valued at $10,630,333 in the last three months. Company insiders own 0.37% of the company’s stock.
Delta Air Lines Profile
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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