State of Alaska Department of Revenue Has $3.78 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

State of Alaska Department of Revenue raised its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 6.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 74,495 shares of the transportation company’s stock after purchasing an additional 4,335 shares during the period. State of Alaska Department of Revenue’s holdings in Delta Air Lines were worth $3,783,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DAL. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Delta Air Lines by 1.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,650 shares of the transportation company’s stock valued at $19,275,000 after purchasing an additional 6,915 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in Delta Air Lines by 21.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 20,457 shares of the transportation company’s stock valued at $979,000 after purchasing an additional 3,648 shares during the last quarter. Norden Group LLC boosted its stake in Delta Air Lines by 714.1% during the 1st quarter. Norden Group LLC now owns 112,048 shares of the transportation company’s stock valued at $5,364,000 after purchasing an additional 98,285 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in Delta Air Lines by 24.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,146 shares of the transportation company’s stock valued at $581,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Delta Air Lines by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock worth $2,384,000 after buying an additional 1,362 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DAL. JPMorgan Chase & Co. boosted their target price on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group boosted their target price on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Sanford C. Bernstein boosted their target price on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $65.40.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at $5,499,635.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Edward H. Bastian sold 68,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $56.33, for a total value of $3,830,440.00. Following the transaction, the chief executive officer now owns 439,819 shares of the company’s stock, valued at approximately $24,775,004.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the completion of the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at approximately $5,499,635.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,921 shares of company stock valued at $5,080,586 in the last 90 days. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Trading Up 2.0 %

NYSE:DAL opened at $58.49 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $37.74 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 0.98 and a beta of 1.35. The firm’s 50 day moving average is $48.34 and its 200 day moving average is $47.64. Delta Air Lines, Inc. has a 12 month low of $30.76 and a 12 month high of $59.07.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the previous year, the firm earned $2.03 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts expect that Delta Air Lines, Inc. will post 6.17 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. Delta Air Lines’s payout ratio is 8.33%.

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.