Public Employees Retirement System of Ohio Sells 10,299 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Public Employees Retirement System of Ohio reduced its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 3.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 279,474 shares of the transportation company’s stock after selling 10,299 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Delta Air Lines were worth $13,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC bought a new position in Delta Air Lines in the 4th quarter worth $27,000. Venturi Wealth Management LLC raised its holdings in Delta Air Lines by 396.6% in the 4th quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after purchasing an additional 575 shares in the last quarter. Manchester Capital Management LLC raised its holdings in Delta Air Lines by 26,166.7% in the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after purchasing an additional 785 shares in the last quarter. Rise Advisors LLC raised its holdings in Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares in the last quarter. Finally, Nordwand Advisors LLC bought a new position in Delta Air Lines in the 4th quarter worth $40,000. 69.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the sale, the executive vice president now owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Delta Air Lines news, Director Willie Cw Chiang acquired 10,000 shares of the stock in a transaction dated Friday, July 12th. The shares were purchased at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joanne D. Smith sold 4,846 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the transaction, the executive vice president now owns 112,421 shares in the company, valued at approximately $5,879,618.30. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Down 2.1 %

DAL stock traded down $0.92 during trading on Monday, hitting $43.21. 5,305,781 shares of the stock traded hands, compared to its average volume of 9,730,692. The firm’s 50 day moving average is $48.23 and its two-hundred day moving average is $45.82. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The stock has a market cap of $27.89 billion, a price-to-earnings ratio of 6.35, a price-to-earnings-growth ratio of 0.91 and a beta of 1.35. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $53.86.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The company had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 EPS. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 6.26 EPS for the current year.

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Tuesday, July 30th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.76%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Susquehanna upped their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a report on Tuesday, April 9th. Bank of America upped their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. TD Cowen reduced their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Citigroup upped their target price on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Sanford C. Bernstein reduced their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $60.70.

Delta Air Lines 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 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.