Kentucky Retirement Systems Sells 2,853 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Kentucky Retirement Systems decreased its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 5.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,631 shares of the transportation company’s stock after selling 2,853 shares during the quarter. Kentucky Retirement Systems’ holdings in Delta Air Lines were worth $2,328,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MeadowBrook Investment Advisors LLC bought a new position in Delta Air Lines in the 4th quarter worth about $27,000. Venturi Wealth Management LLC raised its holdings in shares of Delta Air Lines by 396.6% during the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after purchasing an additional 575 shares during the last quarter. Manchester Capital Management LLC lifted its position in Delta Air Lines by 26,166.7% during the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 785 shares during the period. Rise Advisors LLC increased its holdings in Delta Air Lines by 122.5% in the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after buying an additional 452 shares in the last quarter. Finally, Nordwand Advisors LLC purchased a new position in Delta Air Lines in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Sanford C. Bernstein cut their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Jefferies Financial Group decreased their target price on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, June 28th. 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. HSBC started coverage on shares of Delta Air Lines in a research note on Monday, May 13th. They set a “buy” rating and a $72.80 target price on the stock. Finally, 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 note on Wednesday, May 29th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Delta Air Lines has an average rating of “Buy” and a consensus price target of $60.70.

Delta Air Lines Stock Performance

DAL stock traded down $0.49 during trading on Monday, hitting $43.64. 2,421,193 shares of the company’s stock traded hands, compared to its average volume of 9,710,660. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines, Inc. has a 52 week low of $30.60 and a 52 week high of $53.86. The stock has a fifty day moving average price of $48.23 and a two-hundred day moving average price of $45.82. The stock has a market capitalization of $28.17 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 (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 the consensus estimate of $2.37 by ($0.01). The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $2.68 EPS. As a group, equities analysts anticipate that Delta Air Lines, Inc. will post 6.26 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.37%. 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 payout ratio is presently 5.76%.

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.