Texas Permanent School Fund Corp Lowers Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Texas Permanent School Fund Corp lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 18.5% in the second quarter, HoldingsChannel reports. The firm owned 107,856 shares of the transportation company’s stock after selling 24,417 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Delta Air Lines were worth $5,117,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its stake in shares of Delta Air Lines by 26,166.7% in the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after acquiring an additional 785 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Delta Air Lines in the second quarter valued at $36,000. Rise Advisors LLC grew its stake in Delta Air Lines by 122.5% during the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Delta Air Lines during the 2nd quarter worth about $40,000. Finally, Private Wealth Management Group LLC acquired a new stake in Delta Air Lines in the 4th quarter valued at about $42,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DAL. Sanford C. Bernstein reduced their target price 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. Jefferies Financial Group reduced their price objective 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. TD Cowen lowered their target price on shares of Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Citigroup raised their price target on Delta Air Lines from $55.00 to $65.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat, Delta Air Lines has an average rating of “Buy” and a consensus target price of $60.70.

Delta Air Lines Price Performance

DAL opened at $44.28 on Friday. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $53.86. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The stock has a market capitalization of $28.57 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34. The business’s 50-day simple moving average is $42.29 and its 200-day simple moving average is $46.07.

Delta Air Lines (NYSE:DAL) last released its quarterly 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). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. During the same period last year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts anticipate that Delta Air Lines, Inc. will post 5.94 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th were given a $0.15 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $0.60 annualized dividend and a yield of 1.36%. Delta Air Lines’s dividend payout ratio is 8.63%.

Insider Buying and Selling

In other Delta Air Lines news, 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 cost of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $878,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by company insiders.

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.