Strs Ohio Sells 36,582 Shares of Delta Air Lines, Inc. $DAL

Strs Ohio decreased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 18.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,057 shares of the transportation company’s stock after selling 36,582 shares during the period. Strs Ohio’s holdings in Delta Air Lines were worth $8,216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DAL. Brighton Jones LLC raised its position in shares of Delta Air Lines by 33.5% during the 4th quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company’s stock valued at $555,000 after purchasing an additional 2,302 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Delta Air Lines by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company’s stock valued at $1,670,000 after acquiring an additional 2,973 shares during the period. Mather Group LLC. raised its holdings in Delta Air Lines by 15.6% during the first quarter. Mather Group LLC. now owns 3,547 shares of the transportation company’s stock valued at $155,000 after acquiring an additional 479 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Delta Air Lines by 6.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,947 shares of the transportation company’s stock valued at $1,262,000 after acquiring an additional 1,649 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in Delta Air Lines by 2.1% during the first quarter. DAVENPORT & Co LLC now owns 14,597 shares of the transportation company’s stock valued at $636,000 after acquiring an additional 299 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Trading Up 0.4%

Shares of DAL opened at $57.34 on Friday. The company’s fifty day moving average is $59.44 and its 200 day moving average is $53.62. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The stock has a market capitalization of $37.44 billion, a PE ratio of 8.08, a P/E/G ratio of 1.35 and a beta of 1.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.34 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. The firm had revenue of $8.40 billion for the quarter. Sell-side analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Thursday, October 16th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 16th. Delta Air Lines’s payout ratio is presently 10.56%.

Insiders Place Their Bets

In other news, SVP William C. Carroll sold 14,010 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $61.25, for a total transaction of $858,112.50. Following the transaction, the senior vice president owned 15,816 shares of the company’s stock, valued at approximately $968,730. The trade was a 46.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael P. Huerta sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total value of $151,750.00. Following the transaction, the director directly owned 33,245 shares in the company, valued at approximately $2,017,971.50. This represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,833 shares of company stock valued at $2,463,585 over the last ninety days. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DAL shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Delta Air Lines in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Evercore ISI lifted their price objective on shares of Delta Air Lines from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Susquehanna Bancshares lifted their price target on shares of Delta Air Lines from $51.00 to $65.00 and gave the company a “positive” rating in a report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Delta Air Lines from $63.00 to $72.00 and gave the company a “buy” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $71.53.

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 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.