Strs Ohio Purchases New Holdings in Delta Air Lines, Inc. $DAL

Key Points

• Strs Ohio has acquired a new position in Delta Air Lines, purchasing 203,639 shares valued at approximately $8.88 million during Q1, 2023.
• Several analysts have elevated their target prices for Delta Air Lines, with Susquehanna Bancshares increasing its target from $51.00 to $65.00 and ranking the stock as "positive."
• Delta Air Lines recently announced a quarterly dividend increase to $0.1875 per share, which marks a positive change from the previous dividend of $0.15.

Strs Ohio acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 203,639 shares of the transportation company's stock, valued at approximately $8,879,000.

Several other hedge funds have also bought and sold shares of DAL. Wealth Preservation Advisors LLC bought a new stake in Delta Air Lines during the first quarter worth about $31,000. Zions Bancorporation National Association UT bought a new stake in Delta Air Lines during the first quarter worth about $33,000. Continuum Advisory LLC boosted its stake in Delta Air Lines by 44.2% during the fourth quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after acquiring an additional 179 shares in the last quarter. Hara Capital LLC bought a new stake in Delta Air Lines during the first quarter worth about $35,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Delta Air Lines during the first quarter worth about $40,000. Institutional investors own 69.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DAL shares. Susquehanna Bancshares lifted their target price on shares of Delta Air Lines from $51.00 to $65.00 and gave the stock a "positive" rating in a report on Friday, July 11th. Citigroup lifted their target price on shares of Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a report on Friday, July 11th. The Goldman Sachs Group lifted their target price on shares of Delta Air Lines from $60.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. BNP Paribas Exane lifted their target price on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Raymond James Financial lifted their target price on shares of Delta Air Lines from $60.00 to $68.00 in a report on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $66.93.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, EVP Alain Bellemare sold 45,423 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $55.56, for a total value of $2,523,701.88. Following the completion of the transaction, the executive vice president directly owned 131,731 shares in the company, valued at $7,318,974.36. This represents a 25.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven M. Sear sold 18,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the completion of the transaction, the executive vice president owned 97,505 shares of the company's stock, valued at approximately $5,456,379.80. The trade was a 15.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,473 shares of company stock valued at $7,663,496 in the last three months. Corporate insiders own 0.88% of the company's stock.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $59.94 on Friday. The company has a 50 day moving average price of $57.35 and a 200-day moving average price of $50.54. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The firm has a market capitalization of $39.14 billion, a PE ratio of 8.69, a P/E/G ratio of 1.88 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its earnings results on Thursday, July 10th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.09. The company had revenue of $15.51 billion during the quarter, compared to analyst estimates of $16.16 billion. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.36 earnings per share. As a group, equities research analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, July 31st were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.3%. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date was Thursday, July 31st. Delta Air Lines's dividend payout ratio (DPR) is presently 10.87%.

Delta Air Lines 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.

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