Louisiana State Employees Retirement System Takes $2.20 Million Position in Delta Air Lines, Inc. $DAL

Louisiana State Employees Retirement System purchased a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the first quarter, Holdings Channel.com reports. The fund purchased 33,100 shares of the transportation company’s stock, valued at approximately $2,200,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new position in shares of Delta Air Lines in the 3rd quarter valued at about $1,041,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Delta Air Lines by 22.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the transportation company’s stock worth $7,438,000 after purchasing an additional 19,829 shares in the last quarter. iA Global Asset Management Inc. boosted its position in Delta Air Lines by 53.2% during the fourth quarter. iA Global Asset Management Inc. now owns 92,142 shares of the transportation company’s stock worth $6,395,000 after purchasing an additional 32,014 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in Delta Air Lines by 66.0% in the third quarter. Ceredex Value Advisors LLC now owns 911,136 shares of the transportation company’s stock valued at $51,707,000 after purchasing an additional 362,329 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Delta Air Lines in the third quarter valued at approximately $12,978,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Delta Air Lines news, EVP Allison C. Ausband sold 9,710 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $76.00, for a total value of $737,960.00. Following the completion of the sale, the executive vice president owned 138,854 shares in the company, valued at approximately $10,552,904. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John E. Laughter sold 69,304 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $68.15, for a total transaction of $4,723,067.60. Following the completion of the transaction, the executive vice president directly owned 69,369 shares in the company, valued at $4,727,497.35. This trade represents a 49.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 149,635 shares of company stock worth $10,833,855. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DAL. Wolfe Research reduced their target price on Delta Air Lines from $81.00 to $73.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Wells Fargo & Company reduced their price objective on shares of Delta Air Lines from $87.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Morgan Stanley increased their price objective on shares of Delta Air Lines from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, June 1st. UBS Group lifted their target price on shares of Delta Air Lines from $98.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Zacks Research raised shares of Delta Air Lines from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.26.

Delta Air Lines Stock Up 0.6%

Shares of DAL opened at $93.10 on Tuesday. The stock has a 50 day moving average price of $77.18 and a 200 day moving average price of $71.27. Delta Air Lines, Inc. has a one year low of $48.24 and a one year high of $95.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.42. The stock has a market capitalization of $61.16 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.50 and a beta of 1.30.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, April 8th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts forecast that Delta Air Lines, Inc. will post 5.36 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be paid a $0.215 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, July 9th. Delta Air Lines’s payout ratio is 12.54%.

Key Stories Impacting Delta Air Lines

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Citi raised its price target on Delta Air Lines and reaffirmed a Buy rating ahead of the expected airline earnings season, signaling confidence in upcoming results. Citi Lifts Delta Air Lines (DAL) Target Ahead of Expected Strong Airline Earnings Season
• Positive Sentiment: UBS reiterated a Buy rating and lifted its target to $107, implying additional upside from current levels and reinforcing the bullish analyst view on DAL. This is Why Delta Air Lines, Inc. (DAL) is a Top Stock to Buy Now for Good Returns
• Neutral Sentiment: Delta is approaching its July 9 ex-dividend date and is being highlighted in dividend-stock roundups, which may support investor interest but is not a major fundamental catalyst by itself. 5 Best July Dividend Stocks to Buy
• Neutral Sentiment: Recent commentary also notes Delta’s sizable one-year rally, which may lead some investors to question whether more upside remains after the stock’s strong appreciation. Delta Air Lines (DAL) Stock After 88% One-Year Rally Is There Still Upside Potential
• Negative Sentiment: A report describing a rough flight with injuries could add a small overhang to sentiment, though it appears more headline-driven than fundamentally material. “2 ½ Minutes of Terror”: Delta Air Lines Stock (NYSE:DAL) Slips After Rough Flight With Injuries

Delta Air Lines Company Profile

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.