State Board of Administration of Florida Retirement System lessened its stake in Delta Air Lines, Inc. (NYSE:DAL) by 4.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 812,781 shares of the transportation company’s stock after selling 38,802 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Delta Air Lines were worth $46,125,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Glassman Wealth Services grew its stake in Delta Air Lines by 1,153.5% in the 1st quarter. Glassman Wealth Services now owns 539 shares of the transportation company’s stock valued at $28,000 after buying an additional 496 shares during the last quarter. Motco grew its stake in Delta Air Lines by 1,716.7% in the 1st quarter. Motco now owns 654 shares of the transportation company’s stock valued at $34,000 after buying an additional 618 shares during the last quarter. Carroll Financial Associates Inc. grew its stake in Delta Air Lines by 105.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 623 shares of the transportation company’s stock valued at $35,000 after buying an additional 320 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in Delta Air Lines by 36.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock valued at $35,000 after buying an additional 164 shares during the last quarter. Finally, TCG Advisors LP acquired a new position in Delta Air Lines in the 1st quarter valued at $48,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

A number of research firms recently issued reports on DAL. Cowen reiterated an “outperform” rating and issued a $69.00 target price (up from $67.00) on shares of Delta Air Lines in a research note on Thursday, July 11th. Deutsche Bank raised their target price on shares of Delta Air Lines from $56.00 to $61.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Imperial Capital raised their target price on shares of Delta Air Lines from $61.00 to $63.00 and gave the company an “in-line” rating in a research note on Wednesday, July 10th. Morgan Stanley raised their target price on shares of Delta Air Lines from $61.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, July 12th. Finally, ValuEngine downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.56.

In other news, SVP William C. Carroll sold 6,384 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $61.96, for a total transaction of $395,552.64. Following the completion of the transaction, the senior vice president now directly owns 23,010 shares of the company’s stock, valued at approximately $1,425,699.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Glen W. Hauenstein sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $63.03, for a total transaction of $3,151,500.00. Following the transaction, the president now directly owns 267,526 shares of the company’s stock, valued at $16,862,163.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,288 shares of company stock valued at $5,753,311. Insiders own 0.47% of the company’s stock.

Delta Air Lines stock traded down $0.01 during mid-day trading on Thursday, reaching $58.00. The company had a trading volume of 204,691 shares, compared to its average volume of 5,501,063. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.95. Delta Air Lines, Inc. has a 52 week low of $45.08 and a 52 week high of $63.44. The company has a 50 day moving average of $60.17 and a 200-day moving average of $55.48. The firm has a market cap of $37.79 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.46 and a beta of 1.18.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.07. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The firm had revenue of $12.54 billion during the quarter, compared to the consensus estimate of $12.49 billion. During the same period in the prior year, the firm earned $1.77 EPS. The business’s revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Delta Air Lines, Inc. will post 7.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th were issued a $0.4025 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.35. This represents a $1.61 dividend on an annualized basis and a yield of 2.78%. Delta Air Lines’s dividend payout ratio is 28.50%.

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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