Employees Retirement System of Texas Sells 18,400 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Employees Retirement System of Texas reduced its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,544 shares of the transportation company's stock after selling 18,400 shares during the quarter. Employees Retirement System of Texas' holdings in Delta Air Lines were worth $7,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bernard Wealth Management Corp. acquired a new position in Delta Air Lines during the 4th quarter worth $51,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Delta Air Lines during the 4th quarter worth $283,000. Heck Capital Advisors LLC acquired a new position in Delta Air Lines during the 4th quarter worth $128,000. Ameriflex Group Inc. acquired a new position in Delta Air Lines during the 4th quarter worth $351,000. Finally, United Advisor Group LLC acquired a new position in Delta Air Lines during the 4th quarter worth $373,000. 69.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DAL shares. Sanford C. Bernstein reissued an "outperform" rating on shares of Delta Air Lines in a research note on Tuesday, May 13th. UBS Group set a $66.00 price target on Delta Air Lines and gave the company a "buy" rating in a research note on Monday, May 19th. TD Cowen increased their price target on Delta Air Lines from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. Bank of America cut their price target on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $46.00 price target (down previously from $85.00) on shares of Delta Air Lines in a research note on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.08.

Delta Air Lines Stock Down 0.2%

DAL stock traded down $0.11 during trading hours on Friday, reaching $48.39. 9,187,098 shares of the stock were exchanged, compared to its average volume of 9,604,605. The firm's 50-day moving average is $44.38 and its 200-day moving average is $55.47. The company has a market cap of $31.60 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.75 and a beta of 1.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. 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 released its 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 firm had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. Delta Air Lines's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.45 EPS. On average, equities research analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, May 13th. Delta Air Lines's payout ratio is 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.