VIRGINIA RETIREMENT SYSTEMS ET Al Invests $28.83 Million in Delta Air Lines, Inc. $DAL

Key Points

• Virginia Retirement Systems purchased 307,800 Delta Air Lines shares worth approximately $28.83 million, while institutional investors collectively own 69.93% of the company.
• Delta reported quarterly earnings of $1.56 per share, exceeding estimates of $1.49, while revenue rose 18.7% year over year to $17.67 billion.
• The company increased its quarterly dividend to $0.215 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $99.84.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 307,800 shares of the transportation company's stock, valued at approximately $28,829,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors raised its holdings in Delta Air Lines by 4.4% during the 4th quarter. Capital International Investors now owns 24,211,101 shares of the transportation company's stock worth $1,680,249,000 after purchasing an additional 1,012,265 shares during the last quarter. State Street Corp lifted its position in Delta Air Lines by 0.7% during the 4th quarter. State Street Corp now owns 23,163,644 shares of the transportation company's stock valued at $1,607,557,000 after purchasing an additional 165,729 shares during the period. California State Teachers Retirement System lifted its position in Delta Air Lines by 8,578.7% during the 2nd quarter. California State Teachers Retirement System now owns 18,516,676 shares of the transportation company's stock valued at $1,734,272,000 after purchasing an additional 18,303,318 shares during the period. Geode Capital Management LLC boosted its stake in shares of Delta Air Lines by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 17,413,841 shares of the transportation company's stock valued at $1,215,766,000 after purchasing an additional 202,865 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Delta Air Lines by 137.4% in the 4th quarter. Wellington Management Group LLP now owns 13,811,787 shares of the transportation company's stock valued at $958,538,000 after purchasing an additional 7,994,004 shares during the last quarter. Institutional investors own 69.93% of the company's stock.

Insider Buying and Selling

In other news, Director Michael P. Huerta sold 3,100 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $94.11, for a total value of $291,741.00. Following the completion of the transaction, the director owned 32,525 shares of the company's stock, valued at $3,060,927.75. The trade was a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward H. Bastian sold 206,510 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $92.80, for a total transaction of $19,164,128.00. Following the completion of the sale, the chief executive officer owned 1,363,448 shares of the company's stock, valued at approximately $126,527,974.40. This represents a 13.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 356,726 shares of company stock valued at $33,081,037. 0.80% of the stock is owned by company insiders.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $80.13 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $52.70 billion, a P/E ratio of 13.29, a PEG ratio of 1.11 and a beta of 1.29. The business has a 50-day moving average of $86.33 and a 200-day moving average of $76.98. Delta Air Lines, Inc. has a 1 year low of $55.03 and a 1 year high of $95.68.

Delta Air Lines (NYSE:DAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 9th. The transportation company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.07. Delta Air Lines had a net margin of 5.79% and a return on equity of 17.52%. The business had revenue of $17.67 billion for the quarter, compared to the consensus estimate of $17.43 billion. During the same period last year, the company posted $2.10 EPS. Delta Air Lines's revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts anticipate that Delta Air Lines, Inc. will post 6.23 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Thursday, July 9th were paid a $0.215 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This is a boost from Delta Air Lines's previous quarterly dividend of $0.19. This represents a $0.86 annualized dividend and a yield of 1.1%. Delta Air Lines's payout ratio is currently 14.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DAL shares. The Goldman Sachs Group reissued a "buy" rating on shares of Delta Air Lines in a research note on Monday, August 3rd. UBS Group raised their price objective on shares of Delta Air Lines from $107.00 to $112.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Benchmark reaffirmed a "buy" rating on shares of Delta Air Lines in a report on Wednesday, July 8th. Cantor Fitzgerald set a $112.00 target price on shares of Delta Air Lines in a research report on Tuesday, July 14th. Finally, Bank of America upped their target price 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. Twenty-three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Delta Air Lines presently has an average rating of "Moderate Buy" and an average target price of $99.84.

Delta Air Lines Company Profile

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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