California State Teachers Retirement System Lowers Stake in Delta Air Lines, Inc. (DAL)

California State Teachers Retirement System reduced its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,118,793 shares of the transportation company’s stock after selling 129,706 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Delta Air Lines worth $53,948,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Delta Air Lines by 0.6% during the second quarter. Vanguard Group Inc. now owns 44,951,865 shares of the transportation company’s stock valued at $2,415,714,000 after purchasing an additional 274,997 shares during the period. Dimensional Fund Advisors LP lifted its position in Delta Air Lines by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 7,821,694 shares of the transportation company’s stock valued at $377,169,000 after purchasing an additional 250,731 shares during the period. AJO LP lifted its position in Delta Air Lines by 21.2% during the second quarter. AJO LP now owns 5,637,157 shares of the transportation company’s stock valued at $302,941,000 after purchasing an additional 986,803 shares during the period. TIAA CREF Investment Management LLC lifted its position in Delta Air Lines by 77.6% during the second quarter. TIAA CREF Investment Management LLC now owns 5,364,934 shares of the transportation company’s stock valued at $288,312,000 after purchasing an additional 2,343,531 shares during the period. Finally, APG Asset Management N.V. lifted its position in Delta Air Lines by 12.3% during the third quarter. APG Asset Management N.V. now owns 4,100,199 shares of the transportation company’s stock valued at $197,712,000 after purchasing an additional 449,700 shares during the period. Institutional investors and hedge funds own 85.24% of the company’s stock.

A number of research analysts recently issued reports on DAL shares. Vetr downgraded shares of Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 target price for the company. in a research report on Wednesday, November 29th. UBS restated a “buy” rating and set a $62.00 target price (down from $65.00) on shares of Delta Air Lines in a research report on Saturday, September 30th. Zacks Investment Research downgraded shares of Delta Air Lines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 20th. J P Morgan Chase & Co boosted their target price on shares of Delta Air Lines from $63.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $63.64.

Delta Air Lines, Inc. (DAL) opened at $55.25 on Friday. The firm has a market cap of $38,236.75, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.29. Delta Air Lines, Inc. has a 1 year low of $43.81 and a 1 year high of $55.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.43 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 earnings per share. sell-side analysts expect that Delta Air Lines, Inc. will post 5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were given a $0.305 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.21%. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.50%.

In other news, EVP Peter W. Carter sold 19,809 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $50.42, for a total transaction of $998,769.78. Following the completion of the sale, the executive vice president now owns 67,077 shares of the company’s stock, valued at $3,382,022.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward H. Bastian sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.79, for a total transaction of $1,055,800.00. The disclosure for this sale can be found here. Insiders have sold 239,810 shares of company stock valued at $12,684,903 in the last three months. Corporate insiders own 0.37% of the company’s stock.

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

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