California State Teachers Retirement System Decreases Holdings in Delta Air Lines, Inc. (NYSE:DAL)

California State Teachers Retirement System cut its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,325 shares of the transportation company's stock after selling 6,581 shares during the quarter. California State Teachers Retirement System's holdings in Delta Air Lines were worth $13,874,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in Delta Air Lines in the 4th quarter worth about $27,000. Roxbury Financial LLC purchased a new stake in Delta Air Lines in the 4th quarter worth about $29,000. Hemington Wealth Management increased its holdings in Delta Air Lines by 48.1% in the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock worth $28,000 after acquiring an additional 154 shares during the last quarter. Crews Bank & Trust purchased a new stake in Delta Air Lines in the 4th quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in Delta Air Lines by 414.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock worth $32,000 after acquiring an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Susquehanna decreased their price objective on Delta Air Lines from $80.00 to $50.00 and set a "positive" rating for the company in a report on Monday, April 7th. The Goldman Sachs Group decreased their price objective on Delta Air Lines from $83.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Barclays cut their target price on Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Citigroup cut their target price on Delta Air Lines from $80.00 to $72.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, Wall Street Zen downgraded Delta Air Lines from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $62.08.

Delta Air Lines Price Performance

Shares of DAL traded up $0.22 during trading hours on Wednesday, reaching $49.05. 8,229,651 shares of the company's stock traded hands, compared to its average volume of 9,625,935. The stock has a market cap of $32.03 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.75 and a beta of 1.51. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. The firm's 50 day simple moving average is $44.56 and its 200-day simple moving average is $55.15. Delta Air Lines, Inc. has a 12 month low of $34.74 and a 12 month high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). The business had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The business's revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. Equities analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Delta Air Lines's dividend payout ratio (DPR) is presently 10.64%.

Delta Air Lines Company 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.