State of New Jersey Common Pension Fund D Cuts Stake in Delta Air Lines, Inc. (NYSE:DAL)

State of New Jersey Common Pension Fund D lowered its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,844 shares of the transportation company’s stock after selling 16,020 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Delta Air Lines were worth $3,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in Delta Air Lines by 495.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 685 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 570 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Delta Air Lines by 396.6% during the 4th quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 575 shares in the last quarter. Moisand Fitzgerald Tamayo LLC grew its stake in Delta Air Lines by 55.2% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 874 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 311 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Delta Air Lines during the 3rd quarter valued at about $35,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Delta Air Lines by 1,302.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,318 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 1,224 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Alain Bellemare sold 24,073 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the sale, the executive vice president now directly owns 141,451 shares in the company, valued at approximately $6,911,295.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the sale, the president now directly owns 217,584 shares of the company’s stock, valued at approximately $10,672,495.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alain Bellemare sold 24,073 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the completion of the sale, the executive vice president now directly owns 141,451 shares in the company, valued at $6,911,295.86. The disclosure for this sale can be found here. Insiders have sold a total of 195,913 shares of company stock worth $8,897,335 in the last ninety days. 0.89% of the stock is owned by corporate insiders.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $49.90 on Friday. The firm’s 50 day moving average price is $45.03 and its 200-day moving average price is $40.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41. Delta Air Lines, Inc. has a one year low of $30.60 and a one year high of $50.24. The firm has a market cap of $32.20 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.74 and a beta of 1.43.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09. The firm had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. As a group, equities research analysts predict that Delta Air Lines, Inc. will post 6.52 EPS for the current year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.80%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Wall Street Analyst Weigh In

DAL has been the subject of several research reports. TheStreet raised shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research note on Thursday, January 4th. Bank of America boosted their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Susquehanna boosted their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a report on Tuesday, April 9th. UBS Group initiated coverage on shares of Delta Air Lines in a report on Wednesday, March 20th. They issued a “buy” rating and a $59.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $58.29.

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 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.