Strs Ohio Boosts Position in Delta Air Lines, Inc. $DAL

Key Points

• Strs Ohio increased its stake in Delta Air Lines by 22.4% in the first quarter, buying 16,977 additional shares and bringing its total holdings to 92,599 shares worth about $6.16 million.
• Other institutional investors and analysts remain generally upbeat on Delta, with several hedge funds adding shares and multiple Wall Street firms raising price targets; the stock currently carries a consensus “Moderate Buy” rating.
• Delta reported solid fundamentals and raised its dividend, beating quarterly earnings and revenue estimates, while increasing its quarterly payout to $0.215 per share from $0.19.

Strs Ohio raised its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 22.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 92,599 shares of the transportation company's stock after purchasing an additional 16,977 shares during the period. Strs Ohio's holdings in Delta Air Lines were worth $6,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Keybank National Association OH boosted its position in shares of Delta Air Lines by 3.4% in the 1st quarter. Keybank National Association OH now owns 23,227 shares of the transportation company's stock worth $1,544,000 after buying an additional 769 shares in the last quarter. Root Financial Partners LLC increased its holdings in Delta Air Lines by 8.4% during the 1st quarter. Root Financial Partners LLC now owns 3,569 shares of the transportation company's stock valued at $237,000 after acquiring an additional 276 shares in the last quarter. IFM Investors Pty Ltd raised its position in Delta Air Lines by 14.7% during the first quarter. IFM Investors Pty Ltd now owns 32,310 shares of the transportation company's stock worth $2,148,000 after acquiring an additional 4,143 shares during the last quarter. iA Global Asset Management Inc. raised its position in Delta Air Lines by 116.0% during the first quarter. iA Global Asset Management Inc. now owns 198,983 shares of the transportation company's stock worth $13,228,000 after acquiring an additional 106,841 shares during the last quarter. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of Delta Air Lines by 16.5% in the first quarter. Premier Path Wealth Partners LLC now owns 4,197 shares of the transportation company's stock valued at $279,000 after purchasing an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company's stock.

Insider Activity

In related news, EVP Allison C. Ausband sold 5,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $79.00, for a total value of $395,000.00. Following the completion of the transaction, the executive vice president directly owned 133,854 shares in the company, valued at approximately $10,574,466. This represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alain Bellemare sold 25,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $81.44, for a total value of $2,036,000.00. Following the transaction, the executive vice president owned 95,025 shares in the company, valued at $7,738,836. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,635 shares of company stock valued at $10,833,855 over the last quarter. Company insiders own 0.80% of the company's stock.

More Delta Air Lines News

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

• Positive Sentiment: Multiple earnings-preview pieces say Delta looks positioned to beat estimates, supported by strong bookings and lower fuel costs, which could improve near-term results. Delta Air Lines (DAL) Expected to Beat Earnings Estimates: Should You Buy?
• Positive Sentiment: BMO Capital Markets raised its price target on Delta to $105 from $80 and kept an outperform rating, reinforcing a more optimistic Wall Street view of the airline. Benzinga report on BMO price target increase
• Positive Sentiment: Goldman Sachs and TD Cowen also lifted targets across major U.S. airlines, with Delta included, which signals improving analyst confidence in the sector’s revenue outlook. Airlines Get a Wall Street Lift as Goldman, TD Cowen Raise Targets on Delta, United, Southwest, American
• Positive Sentiment: Delta’s international expansion, including its Korean Air partnership and new Los Angeles-to-Hong Kong service, underscores growth in the high-margin trans-Pacific market. Delta (DAL) Expands Pacific Reach With Korean Air Tie Up And Hong Kong Route

Analyst Upgrades and Downgrades

Several research firms have recently commented on DAL. Bank of America increased their price target on shares of Delta Air Lines from $93.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Jefferies Financial Group upped their target price on Delta Air Lines from $81.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Wolfe Research lowered their target price on Delta Air Lines from $81.00 to $73.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. The Goldman Sachs Group raised their price target on Delta Air Lines from $80.00 to $116.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Citigroup boosted their price target on Delta Air Lines from $79.00 to $106.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. 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 stock. Based on data from MarketBeat.com, Delta Air Lines presently has an average rating of "Moderate Buy" and a consensus target price of $90.93.

Delta Air Lines Stock Performance

NYSE:DAL opened at $92.75 on Monday. The firm has a 50 day simple moving average of $78.99 and a 200-day simple moving average of $71.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.42 and a quick ratio of 0.36. The firm has a market cap of $60.94 billion, a PE ratio of 13.52, a P/E/G ratio of 1.39 and a beta of 1.29. Delta Air Lines, Inc. has a 1-year low of $49.19 and a 1-year high of $95.68.

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 analysts' consensus estimates of $0.61 by $0.03. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.05 billion. Delta Air Lines had a net margin of 6.87% and a return on equity of 20.28%. Delta Air Lines's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. On average, equities analysts expect that Delta Air Lines, Inc. will post 5.47 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th will be given a $0.215 dividend. 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, July 9th. Delta Air Lines's dividend payout ratio (DPR) is presently 10.93%.

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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