North Dakota State Investment Board Invests $1.55 Million in Delta Air Lines, Inc. $DAL

Key Points

• North Dakota State Investment Board opened a new position in Delta Air Lines in the fourth quarter, buying 22,369 shares valued at about $1.55 million.
• Institutional interest in Delta remains strong, with several large hedge funds increasing their stakes; overall, 69.93% of the stock is owned by institutional investors.
• Delta reported solid quarterly results, beating EPS estimates and posting 9.4% revenue growth, while also announcing a $0.1875 quarterly dividend payable June 4.

North Dakota State Investment Board acquired a new position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,369 shares of the transportation company's stock, valued at approximately $1,552,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Delta Air Lines by 23.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,661,911 shares of the transportation company's stock worth $434,813,000 after purchasing an additional 1,447,058 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Delta Air Lines by 54.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,817,783 shares of the transportation company's stock worth $330,159,000 after purchasing an additional 2,058,744 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Delta Air Lines by 1.3% in the 3rd quarter. LSV Asset Management now owns 3,447,917 shares of the transportation company's stock worth $195,669,000 after purchasing an additional 42,878 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Delta Air Lines by 24.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,791,581 shares of the transportation company's stock worth $158,422,000 after purchasing an additional 550,480 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Delta Air Lines by 1.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,655,412 shares of the transportation company's stock valued at $150,735,000 after acquiring an additional 47,631 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Delta Air Lines

In other news, EVP Alain Bellemare sold 20,621 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $72.75, for a total value of $1,500,177.75. Following the completion of the transaction, the executive vice president owned 120,025 shares of the company's stock, valued at approximately $8,731,818.75. This represents a 14.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $70.26, for a total value of $7,026,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,363,448 shares of the company's stock, valued at $95,795,856.48. This represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 204,925 shares of company stock valued at $14,323,395. Corporate insiders own 0.80% of the company's stock.

Delta Air Lines Trading Down 3.5%

DAL opened at $67.77 on Wednesday. Delta Air Lines, Inc. has a one year low of $45.28 and a one year high of $76.39. The firm has a market capitalization of $44.52 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.01 and a beta of 1.25. The business has a 50 day simple moving average of $67.29 and a two-hundred day simple moving average of $66.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Wednesday, April 8th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.03. Delta Air Lines had a return on equity of 20.28% and a net margin of 6.87%.The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The business's revenue was up 9.4% compared to the same quarter last year. Analysts predict that Delta Air Lines, Inc. will post 5.26 EPS for the current year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.75 annualized dividend and a dividend yield of 1.1%. Delta Air Lines's dividend payout ratio is currently 10.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Raymond James Financial increased their target price on Delta Air Lines from $76.00 to $80.00 and gave the company a "strong-buy" rating in a report on Thursday, April 9th. Wells Fargo & Company dropped their target price on Delta Air Lines from $87.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, March 16th. Susquehanna dropped their target price on Delta Air Lines from $81.00 to $78.00 and set a "positive" rating for the company in a report on Thursday, April 9th. BNP Paribas Exane dropped their target price on Delta Air Lines from $85.00 to $81.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. Finally, HSBC dropped their target price on Delta Air Lines from $80.20 to $79.30 and set a "buy" rating for the company in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.76.

Key Delta Air Lines News

Here are the key news stories impacting Delta Air Lines this week:

• Positive Sentiment: Berkshire Hathaway disclosed a new 39.8 million-share Delta stake, a major endorsement that has boosted sentiment around DAL’s premium revenue and loyalty-driven business model.
• Positive Sentiment: Bernstein raised its price target on Delta Air Lines, signaling improved analyst confidence in the carrier’s earnings and strategic positioning. Bernstein Raised PT on Delta Air Lines (DAL), Here’s Why
• Positive Sentiment: Delta is expanding Europe flights, including added service to Madrid and Munich, to capture event-driven travel demand and support higher-yield premium bookings. Delta Expands Europe Flights to Capture Event-Driven Travel Demand
• Positive Sentiment: CEO Ed Bastian defended Delta’s choice of Amazon Leo over Starlink, citing a much lower price point and other benefits, which may help keep technology costs in check. Delta CEO stands by his decision to choose Amazon over Elon Musk's Starlink for one main reason
• Neutral Sentiment: Delta’s CEO said the airline will prioritize global expansion over domestic tie-ups, indicating a focus on organic growth rather than near-term merger activity. Delta CEO Ed Bastian Says Airline Will Prioritize Global Expansion Over Domestic Tie-Ups Despite Trump's Merger-Friendly Policies
• Neutral Sentiment: Several commentary pieces noted Delta as a stock to watch following Berkshire’s investment, but these were largely reiterations of the same ownership news rather than new operational developments. Berkshire’s New Delta Stake Highlights Premium And Loyalty Focus Risks
• Negative Sentiment: Short-term profit-taking has also appeared after the Berkshire-related rally, suggesting some traders are fading the move despite the improved longer-term story.

About Delta Air Lines

Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.

The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.

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