California State Teachers Retirement System Boosts Holdings in Delta Air Lines, Inc. $DAL

California State Teachers Retirement System raised its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 8,578.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,516,676 shares of the transportation company's stock after buying an additional 18,303,318 shares during the period. California State Teachers Retirement System owned about 2.82% of Delta Air Lines worth $1,734,272,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DAL. Markowski Investments bought a new position in shares of Delta Air Lines in the second quarter worth about $27,000. Lloyd Advisory Services LLC. bought a new position in shares of Delta Air Lines during the 4th quarter valued at approximately $31,000. Timbuktu Capital Management LLC purchased a new stake in Delta Air Lines in the 2nd quarter worth approximately $31,000. SWAN Capital LLC increased its holdings in Delta Air Lines by 1,016.0% in the 3rd quarter. SWAN Capital LLC now owns 558 shares of the transportation company's stock worth $32,000 after acquiring an additional 508 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its stake in Delta Air Lines by 195.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 358 shares of the transportation company's stock worth $34,000 after acquiring an additional 237 shares during the period. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $79.82 on Friday. The firm has a market cap of $52.49 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.08 and a beta of 1.29. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average price is $85.20 and its 200-day moving average price is $77.20. Delta Air Lines, Inc. has a 12 month low of $55.03 and a 12 month high of $95.68.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The business had revenue of $17.67 billion for the quarter, compared to analysts' expectations of $17.43 billion. During the same period last year, the business earned $2.10 EPS. The company's revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts expect that Delta Air Lines, Inc. will post 6.23 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were given a dividend of $0.215 per share. This is an increase from Delta Air Lines's previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, July 9th. Delta Air Lines's dividend payout ratio (DPR) is currently 14.26%.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, Director Michael P. Huerta sold 3,100 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $94.11, for a total transaction of $291,741.00. Following the completion of the sale, the director owned 32,525 shares of the company's stock, valued at $3,060,927.75. This trade represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven M. Sear sold 40,460 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $93.55, for a total transaction of $3,785,033.00. Following the completion of the sale, the executive vice president owned 104,404 shares in the company, valued at approximately $9,766,994.20. This trade represents a 27.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 356,726 shares of company stock worth $33,081,037 over the last 90 days. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James Financial lowered their price target on shares of Delta Air Lines from $104.00 to $98.00 and set an "outperform" rating on the stock in a report on Monday, August 24th. Jefferies Financial Group raised their price objective on shares of Delta Air Lines from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Argus set a $105.00 target price on shares of Delta Air Lines in a research note on Tuesday, July 14th. Susquehanna upped their target price on shares of Delta Air Lines from $78.00 to $108.00 and gave the stock a "positive" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings raised Delta Air Lines from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Twenty-three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $98.84.

Delta Air Lines Company Profile

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger air transportation throughout the United States and to destinations across North America, Latin America, Europe, Asia, Africa and the Middle East. The company also offers air cargo services and operates a loyalty program, SkyMiles, along with related travel and customer services.

Headquartered in Atlanta, Georgia, Delta operates a network of domestic and international routes through hubs and focus cities that include Atlanta, Boston, Detroit, Los Angeles, Minneapolis–Saint Paul, New York, Salt Lake City and Seattle.

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