California State Teachers Retirement System Acquires 14,340 Shares of Delta Air Lines, Inc. (DAL)
California State Teachers Retirement System boosted its position in Delta Air Lines, Inc. (NYSE:DAL) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,133,133 shares of the transportation company’s stock after purchasing an additional 14,340 shares during the period. California State Teachers Retirement System’s holdings in Delta Air Lines were worth $63,455,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Two Sigma Advisers LP grew its position in Delta Air Lines by 163.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,321,294 shares of the transportation company’s stock worth $73,992,000 after purchasing an additional 819,000 shares in the last quarter. Premia Global Advisors LLC bought a new stake in Delta Air Lines in the 4th quarter worth about $230,000. HPM Partners LLC grew its position in Delta Air Lines by 10.3% in the 4th quarter. HPM Partners LLC now owns 31,634 shares of the transportation company’s stock worth $1,772,000 after purchasing an additional 2,949 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in Delta Air Lines in the 4th quarter worth about $1,132,000. Finally, Kendall Capital Management bought a new stake in Delta Air Lines in the 4th quarter worth about $1,536,000. 90.05% of the stock is owned by institutional investors and hedge funds.
In other Delta Air Lines news, Director George N. Mattson purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average cost of $51.89 per share, for a total transaction of $518,900.00. Following the purchase, the director now owns 66,510 shares of the company’s stock, valued at approximately $3,451,203.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward H. Bastian sold 73,211 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $56.04, for a total transaction of $4,102,744.44. Following the sale, the chief executive officer now owns 338,719 shares in the company, valued at $18,981,812.76. The disclosure for this sale can be found here. Insiders have sold a total of 323,638 shares of company stock worth $18,537,123 over the last 90 days. 0.37% of the stock is currently owned by corporate insiders.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, January 11th. The transportation company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.08. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Delta Air Lines had a net margin of 8.67% and a return on equity of 26.27%. Delta Air Lines’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. research analysts predict that Delta Air Lines, Inc. will post 6.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, February 22nd. Delta Air Lines’s payout ratio is currently 24.70%.
A number of equities research analysts have issued reports on the stock. Stephens set a $67.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a research report on Monday, December 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Delta Air Lines in a research report on Wednesday, January 10th. Vetr downgraded shares of Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 price objective for the company. in a research report on Wednesday, November 29th. Cowen upped their price objective on shares of Delta Air Lines from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, December 15th. Finally, Zacks Investment Research raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $67.05.
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About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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