Teacher Retirement System of Texas Invests $1.03 Million in Delta Air Lines, Inc. (NYSE:DAL)

Teacher Retirement System of Texas bought a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,584 shares of the transportation company's stock, valued at approximately $1,028,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its position in Delta Air Lines by 5.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock valued at $7,037,000 after acquiring an additional 9,034 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Delta Air Lines by 152.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock valued at $548,000 after purchasing an additional 7,586 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Delta Air Lines by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock valued at $1,670,000 after purchasing an additional 2,973 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Delta Air Lines by 21.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 145,240 shares of the transportation company's stock worth $6,332,000 after purchasing an additional 25,406 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Delta Air Lines by 3.7% in the first quarter. GAMMA Investing LLC now owns 9,585 shares of the transportation company's stock worth $418,000 after buying an additional 344 shares in the last quarter. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Price Performance

Shares of NYSE:DAL traded down $2.34 during trading on Tuesday, reaching $55.77. 13,700,652 shares of the company's stock traded hands, compared to its average volume of 9,915,666. The firm has a market cap of $36.42 billion, a PE ratio of 8.08, a P/E/G ratio of 1.82 and a beta of 1.49. Delta Air Lines, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $69.98. The company has a 50-day simple moving average of $49.68 and a 200-day simple moving average of $52.58. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.01 by $0.09. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The firm had revenue of $15,507,000 billion during the quarter, compared to analysts' expectations of $16.16 billion. During the same quarter last year, the firm earned $2.36 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be paid a $0.1875 dividend. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date is Thursday, July 31st. This represents a $0.75 annualized dividend and a dividend yield of 1.34%. Delta Air Lines's dividend payout ratio (DPR) is presently 8.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DAL shares. Barclays upped their price target on shares of Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday. Raymond James Financial boosted their price objective on shares of Delta Air Lines from $60.00 to $68.00 in a research report on Friday. Susquehanna Bancshares raised their price objective on Delta Air Lines from $51.00 to $65.00 and gave the stock a "positive" rating in a research note on Friday. UBS Group set a $72.00 target price on shares of Delta Air Lines in a research report on Friday. Finally, Citigroup raised their price objective on Delta Air Lines from $62.00 to $65.50 and gave the company a "buy" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.21.

Insider Activity

In other news, EVP Alain Bellemare sold 45,423 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $55.56, for a total transaction of $2,523,701.88. Following the sale, the executive vice president owned 131,731 shares of the company's stock, valued at approximately $7,318,974.36. This trade represents a 25.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company's stock.

Delta Air Lines 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.