State Board of Administration of Florida Retirement System Sells 35,800 Shares of Delta Air Lines, Inc. (NYSE:DAL)

State Board of Administration of Florida Retirement System cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DALGet Rating) by 4.9% during the first quarter, Holdings Channel.com reports. The fund owned 688,118 shares of the transportation company’s stock after selling 35,800 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Delta Air Lines were worth $27,229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. MML Investors Services LLC raised its holdings in Delta Air Lines by 0.3% during the fourth quarter. MML Investors Services LLC now owns 71,502 shares of the transportation company’s stock valued at $2,794,000 after acquiring an additional 227 shares during the period. UMB Bank N A MO raised its holdings in Delta Air Lines by 2.8% during the fourth quarter. UMB Bank N A MO now owns 8,418 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 228 shares during the period. Landmark Wealth Management LLC purchased a new position in shares of Delta Air Lines during the first quarter valued at about $25,000. Kovitz Investment Group Partners LLC grew its position in shares of Delta Air Lines by 0.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 54,775 shares of the transportation company’s stock valued at $2,203,000 after purchasing an additional 254 shares in the last quarter. Finally, Family Legacy Inc. grew its position in shares of Delta Air Lines by 5.7% during the first quarter. Family Legacy Inc. now owns 5,305 shares of the transportation company’s stock valued at $210,000 after purchasing an additional 285 shares in the last quarter. 63.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DAL shares. Susquehanna cut their price objective on Delta Air Lines from $47.00 to $35.00 and set a “positive” rating for the company in a research report on Tuesday, July 12th. Morgan Stanley raised their price objective on Delta Air Lines from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 14th. Jefferies Financial Group cut their price objective on Delta Air Lines from $50.00 to $45.00 in a research report on Friday, July 15th. Raymond James restated a “strong-buy” rating and set a $50.00 price objective (down previously from $53.00) on shares of Delta Air Lines in a research report on Thursday, June 23rd. Finally, Barclays dropped their price target on Delta Air Lines from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.50.

Insider Activity

In other news, EVP Steven M. Sear sold 12,780 shares of Delta Air Lines stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $41.65, for a total transaction of $532,287.00. Following the completion of the sale, the executive vice president now owns 90,373 shares of the company’s stock, valued at $3,764,035.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Steven M. Sear sold 12,780 shares of Delta Air Lines stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $41.65, for a total transaction of $532,287.00. Following the completion of the sale, the executive vice president now owns 90,373 shares of the company’s stock, valued at $3,764,035.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanne D. Smith sold 7,704 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $41.48, for a total transaction of $319,561.92. Following the completion of the transaction, the executive vice president now directly owns 113,153 shares of the company’s stock, valued at approximately $4,693,586.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,148 shares of company stock valued at $1,945,960. Corporate insiders own 0.63% of the company’s stock.

Delta Air Lines Stock Down 1.2 %

Shares of NYSE:DAL opened at $32.94 on Friday. Delta Air Lines, Inc. has a 1 year low of $28.09 and a 1 year high of $46.27. The business has a 50 day simple moving average of $32.50 and a two-hundred day simple moving average of $37.05. The firm has a market capitalization of $21.12 billion, a PE ratio of 35.80 and a beta of 1.20. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.66 and a quick ratio of 0.59.

Delta Air Lines (NYSE:DALGet Rating) last posted its quarterly earnings results on Wednesday, July 13th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.27). Delta Air Lines had a net margin of 1.43% and a return on equity of 14.26%. The company had revenue of $13.82 billion for the quarter, compared to the consensus estimate of $13.40 billion. During the same period in the prior year, the firm posted ($1.07) EPS. The business’s revenue was up 93.9% on a year-over-year basis. On average, equities analysts predict that Delta Air Lines, Inc. will post 2.8 EPS for the current year.

Delta Air Lines Company Profile

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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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.

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

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