New Mexico Educational Retirement Board lowered its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,600 shares of the transportation company’s stock after selling 1,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Delta Air Lines were worth $2,872,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Cornerstone Advisors Inc. increased its holdings in shares of Delta Air Lines by 36.0% in the second quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 164 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Delta Air Lines by 14.0% in the first quarter. Global Retirement Partners LLC now owns 1,772 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 217 shares during the last quarter. Zeke Capital Advisors LLC increased its holdings in shares of Delta Air Lines by 2.1% in the second quarter. Zeke Capital Advisors LLC now owns 10,702 shares of the transportation company’s stock valued at $607,000 after purchasing an additional 225 shares during the last quarter. Keystone Financial Group increased its holdings in shares of Delta Air Lines by 5.6% in the first quarter. Keystone Financial Group now owns 4,433 shares of the transportation company’s stock valued at $229,000 after purchasing an additional 234 shares during the last quarter. Finally, Pinnacle Bank increased its holdings in shares of Delta Air Lines by 12.1% in the second quarter. Pinnacle Bank now owns 2,184 shares of the transportation company’s stock valued at $124,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 85.54% of the company’s stock.

DAL has been the subject of several recent research reports. ValuEngine cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wolfe Research set a $69.00 price target on Delta Air Lines and gave the company a “buy” rating in a report on Friday, July 12th. Morgan Stanley increased their price objective on Delta Air Lines from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Zacks Investment Research reiterated a “sell” rating on shares of Delta Air Lines in a research report on Tuesday, July 23rd. Finally, Imperial Capital increased their price objective on Delta Air Lines from $61.00 to $63.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.56.

In related news, insider Steven M. Sear sold 8,993 shares of Delta Air Lines stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the completion of the transaction, the insider now directly owns 76,150 shares in the company, valued at $4,056,510.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rahul D. Samant sold 16,559 shares of Delta Air Lines stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $61.87, for a total value of $1,024,505.33. Following the completion of the transaction, the executive vice president now owns 51,039 shares of the company’s stock, valued at $3,157,782.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,278 shares of company stock valued at $5,698,438. Company insiders own 0.47% of the company’s stock.

Shares of DAL traded down $0.02 during midday trading on Friday, hitting $57.94. 943,121 shares of the stock were exchanged, compared to its average volume of 5,254,136. Delta Air Lines, Inc. has a 52-week low of $45.08 and a 52-week high of $63.44. The stock has a fifty day simple moving average of $60.15 and a 200 day simple moving average of $55.52. The firm has a market cap of $37.50 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.45 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business had revenue of $12.54 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same period last year, the business posted $1.77 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Delta Air Lines, Inc. will post 7.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th were given a dividend of $0.4025 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. This represents a $1.61 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Wednesday, July 24th. Delta Air Lines’s dividend payout ratio (DPR) is currently 28.50%.

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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