State of New Jersey Common Pension Fund D Sells 36,370 Shares of Delta Air Lines, Inc. (NYSE:DAL)

State of New Jersey Common Pension Fund D lowered its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 40.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 54,474 shares of the transportation company’s stock after selling 36,370 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Delta Air Lines were worth $2,584,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its stake in Delta Air Lines by 8.8% during the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after purchasing an additional 1,689,053 shares during the last quarter. Capital World Investors lifted its stake in shares of Delta Air Lines by 0.3% in the 1st quarter. Capital World Investors now owns 15,030,836 shares of the transportation company’s stock valued at $719,526,000 after acquiring an additional 49,712 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Delta Air Lines by 220.2% in the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after acquiring an additional 5,914,301 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Delta Air Lines by 27.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after acquiring an additional 1,376,221 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Delta Air Lines by 6.3% in the 1st quarter. LSV Asset Management now owns 3,528,883 shares of the transportation company’s stock valued at $168,928,000 after acquiring an additional 208,436 shares during the last quarter. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Stock Up 0.5 %

Shares of NYSE:DAL opened at $46.93 on Thursday. Delta Air Lines, Inc. has a 1 year low of $30.60 and a 1 year high of $53.86. The stock’s 50-day moving average is $42.25 and its 200 day moving average is $46.21. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The company has a market cap of $30.28 billion, a PE ratio of 6.75, a P/E/G ratio of 0.89 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $15.45 billion. During the same quarter last year, the company posted $2.68 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Delta Air Lines, Inc. will post 5.99 EPS for the current year.

Insiders Place Their Bets

In other news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction 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 acquisition, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DAL shares. Sanford C. Bernstein lowered their target price on 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. TD Cowen lowered their target price on 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. Jefferies Financial Group lowered their target price on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Citigroup boosted their target price 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 equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $61.52.

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.