Delta Air Lines, Inc. (NYSE:DAL) Holdings Increased by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,403 shares of the transportation company’s stock after buying an additional 1,100 shares during the quarter. State of Michigan Retirement System’s holdings in Delta Air Lines were worth $8,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DAL. GAMMA Investing LLC bought a new stake in shares of Delta Air Lines during the 4th quarter worth about $130,000. Atria Wealth Solutions Inc. raised its holdings in shares of Delta Air Lines by 60.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 20,769 shares of the transportation company’s stock worth $836,000 after purchasing an additional 7,797 shares in the last quarter. Syon Capital LLC raised its holdings in shares of Delta Air Lines by 13.0% in the 4th quarter. Syon Capital LLC now owns 8,259 shares of the transportation company’s stock worth $332,000 after purchasing an additional 951 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Delta Air Lines by 0.5% in the 4th quarter. Russell Investments Group Ltd. now owns 1,268,313 shares of the transportation company’s stock worth $51,039,000 after purchasing an additional 6,827 shares in the last quarter. Finally, Kapstone Financial Advisors LLC raised its holdings in shares of Delta Air Lines by 22.6% in the 4th quarter. Kapstone Financial Advisors LLC now owns 7,821 shares of the transportation company’s stock worth $314,000 after purchasing an additional 1,440 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DAL has been the topic of a number of research reports. Jefferies Financial Group dropped 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. Citigroup boosted their price target on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Sanford C. Bernstein cut their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. HSBC started coverage on shares of Delta Air Lines in a report on Monday, May 13th. They set a “buy” rating and a $72.80 price target on the stock. Finally, TD Cowen cut their price target on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $60.70.

Delta Air Lines Stock Performance

DAL stock opened at $40.82 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $26.34 billion, a price-to-earnings ratio of 5.87, a P/E/G ratio of 0.86 and a beta of 1.35. Delta Air Lines, Inc. has a 12 month low of $30.60 and a 12 month high of $53.86. The firm has a 50 day moving average of $43.82 and a two-hundred day moving average of $45.99.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.01). The business had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 earnings per share. 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 announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th were paid a dividend of $0.15 per share. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, July 30th. Delta Air Lines’s dividend payout ratio is presently 8.63%.

Insiders Place Their Bets

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $878,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.96% of the company’s stock.

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 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.