Delta Air Lines, Inc. $DAL Shares Purchased by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue increased its Delta Air Lines stake by 86.3% in the third quarter, bringing its holdings to 119,299 shares valued at approximately $9.96 million. Institutional investors and hedge funds collectively own 69.93% of DAL.
• Analysts maintain a broadly positive view, with 22 Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $99.65.
• Delta reported quarterly EPS of $1.72, below the $1.77 consensus estimate, while revenue reached $17.59 billion. The company also declared a quarterly dividend of $0.215 per share, representing a 1.1% yield.

State of Alaska Department of Revenue raised its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 86.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,299 shares of the transportation company's stock after acquiring an additional 55,274 shares during the quarter. State of Alaska Department of Revenue's holdings in Delta Air Lines were worth $9,957,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Delta Air Lines during the 2nd quarter worth about $1,182,646,000. Pacer Advisors Inc. lifted its stake in Delta Air Lines by 50.9% in the 1st quarter. Pacer Advisors Inc. now owns 4,033,595 shares of the transportation company's stock valued at $268,153,000 after purchasing an additional 1,360,195 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at about $160,265,000. California Public Employees Retirement System increased its position in Delta Air Lines by 15.0% during the first quarter. California Public Employees Retirement System now owns 1,469,652 shares of the transportation company's stock worth $97,702,000 after buying an additional 191,345 shares during the last quarter. Finally, River Road Asset Management LLC raised its stake in Delta Air Lines by 339.5% in the fourth quarter. River Road Asset Management LLC now owns 1,288,956 shares of the transportation company's stock valued at $89,454,000 after buying an additional 995,685 shares during the period. Institutional investors and hedge funds own 69.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DAL shares. TD Cowen cut their price target on Delta Air Lines from $105.00 to $101.00 and set a "buy" rating for the company in a report on Friday, October 2nd. Susquehanna cut their target price on shares of Delta Air Lines from $100.00 to $95.00 and set a "positive" rating for the company in a research note on Monday. Weiss Ratings raised shares of Delta Air Lines from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Zacks Research downgraded shares of Delta Air Lines from a "hold" rating to a "strong sell" rating in a report on Monday, September 28th. Finally, Rothschild & Co Redburn upped their price target on shares of Delta Air Lines from $104.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, September 18th. Twenty-two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $99.65.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Alain Bellemare sold 35,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $92.72, for a total transaction of $3,245,200.00. Following the transaction, the executive vice president owned 95,025 shares in the company, valued at $8,810,718. This trade represents a 26.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Huerta sold 3,100 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $94.11, for a total value of $291,741.00. Following the sale, the director owned 32,525 shares of the company's stock, valued at approximately $3,060,927.75. The trade was a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 356,726 shares of company stock valued at $33,081,037 in the last quarter. Company insiders own 0.80% of the company's stock.

Delta Air Lines Stock Up 1.9%

DAL stock opened at $78.10 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $55.03 and a fifty-two week high of $95.68. The stock has a market capitalization of $51.38 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.37 and a beta of 1.34. The business's fifty day moving average price is $82.40 and its two-hundred day moving average price is $80.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.32.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Friday, October 9th. The transportation company reported $1.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.77 by ($0.05). Delta Air Lines had a return on equity of 16.83% and a net margin of 4.58%. The business had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.64 billion. During the same quarter in the previous year, the company earned $1.71 EPS. The business's revenue for the quarter was up 21.1% on a year-over-year basis. Delta Air Lines has set its Q4 2026 guidance at 1.150-1.650 EPS and its FY 2026 guidance at 5.100-5.600 EPS. On average, equities analysts anticipate that Delta Air Lines, Inc. will post 5.32 earnings per share for the current year.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Thursday, October 15th will be paid a $0.2150 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, October 15th. Delta Air Lines's payout ratio is 17.17%.

Delta Air Lines Profile

Delta Air Lines, Inc is a major U.S. airline that provides scheduled passenger and air freight transportation. The company serves destinations throughout the United States and connects customers to international markets across Europe, Asia, Latin America, Canada, Africa and the Caribbean through its own operations and regional airline partners.

Delta offers multiple classes of passenger service, including premium cabins and its main cabin, along with travel-related products such as vacation packages and loyalty benefits through the SkyMiles program.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.