Public Employees Retirement System of Ohio Cuts Stock Holdings in Delta Air Lines, Inc. $DAL

Public Employees Retirement System of Ohio lowered its position in Delta Air Lines, Inc. (NYSE:DAL) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 397,179 shares of the transportation company’s stock after selling 53,416 shares during the period. Public Employees Retirement System of Ohio’s holdings in Delta Air Lines were worth $26,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in DAL. Lloyd Advisory Services LLC. acquired a new position in Delta Air Lines during the 4th quarter worth approximately $31,000. SWAN Capital LLC lifted its holdings in shares of Delta Air Lines by 1,016.0% in the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company’s stock valued at $32,000 after buying an additional 508 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Delta Air Lines in the 4th quarter valued at approximately $34,000. Cornerstone Planning Group LLC boosted its stake in shares of Delta Air Lines by 451.6% in the fourth quarter. Cornerstone Planning Group LLC now owns 524 shares of the transportation company’s stock valued at $34,000 after buying an additional 429 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in shares of Delta Air Lines in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Delta Air Lines News Roundup

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Delta continues to draw investor interest as a major U.S. carrier with a strong Atlanta hub and ongoing travel demand support, which can help keep sentiment constructive around the stock. Article Title
• Positive Sentiment: Delta has also been trading with relatively low implied volatility, suggesting options are inexpensive and that traders may be positioning for a move higher or a stable range. Article Title
• Neutral Sentiment: Delta reportedly outperformed other airline stocks even as the broader group weakened, indicating relative strength rather than a clear company-specific catalyst. Article Title
• Negative Sentiment: Rising jet fuel prices are pressuring U.S. airline earnings forecasts, and Delta has already flagged fuel expense as a key margin headwind, which is weighing on airline shares. Article Title

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Delta Air Lines from $80.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Bank of America raised their target price on Delta Air Lines from $93.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Susquehanna boosted their target price on shares of Delta Air Lines from $78.00 to $108.00 and gave the stock a “positive” rating in a research report on Tuesday, July 7th. BMO Capital Markets upped their price target on shares of Delta Air Lines from $80.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Barclays increased their price target on shares of Delta Air Lines from $85.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Twenty-three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.40.

Insider Buying and Selling at Delta Air Lines

In related news, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $81.44, for a total value of $2,036,000.00. Following the sale, the executive vice president directly owned 95,025 shares of the company’s stock, valued at approximately $7,738,836. This represents a 20.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison C. Ausband sold 9,710 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $76.00, for a total transaction of $737,960.00. Following the transaction, the executive vice president owned 138,854 shares of the company’s stock, valued at $10,552,904. This trade represents a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,331 shares of company stock valued at $5,036,638 in the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Delta Air Lines Stock Performance

NYSE DAL opened at $85.07 on Friday. Delta Air Lines, Inc. has a 1-year low of $50.44 and a 1-year high of $95.68. The company has a market capitalization of $55.94 billion, a P/E ratio of 14.11, a PEG ratio of 1.03 and a beta of 1.29. The business has a 50 day moving average price of $83.80 and a 200 day moving average price of $73.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $17.67 billion during the quarter, compared to analysts’ expectations of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.Delta Air Lines’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share. Sell-side analysts expect that Delta Air Lines, Inc. will post 6.54 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be given a $0.215 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, July 9th. Delta Air Lines’s dividend payout ratio (DPR) is 14.26%.

Delta Air Lines Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.