New York State Common Retirement Fund Sells 21,500 Shares of Delta Air Lines, Inc. (NYSE:DAL)

New York State Common Retirement Fund lessened its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,425 shares of the transportation company’s stock after selling 21,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.05% of Delta Air Lines worth $21,261,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Delta Air Lines by 59.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 30,297 shares of the transportation company’s stock worth $1,833,000 after acquiring an additional 11,311 shares during the period. Kestra Investment Management LLC bought a new position in shares of Delta Air Lines in the 4th quarter worth $73,000. Atria Wealth Solutions Inc. boosted its position in shares of Delta Air Lines by 4.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 13,824 shares of the transportation company’s stock worth $836,000 after purchasing an additional 583 shares during the last quarter. Truist Financial Corp grew its stake in shares of Delta Air Lines by 7.9% during the fourth quarter. Truist Financial Corp now owns 160,130 shares of the transportation company’s stock worth $9,688,000 after purchasing an additional 11,777 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Delta Air Lines by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 97,914 shares of the transportation company’s stock valued at $5,924,000 after purchasing an additional 4,208 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company’s stock.

Wall Street Analysts Forecast Growth

DAL has been the subject of several analyst reports. TD Cowen boosted their target price on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Susquehanna boosted their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, January 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of Delta Air Lines in a research note on Friday, November 15th. StockNews.com raised shares of Delta Air Lines from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Barclays upped their price objective on shares of Delta Air Lines from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $78.22.

Delta Air Lines Stock Performance

Shares of Delta Air Lines stock opened at $59.88 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. The firm has a market cap of $38.71 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 0.76 and a beta of 1.36. The stock’s 50-day moving average is $64.27 and its 200-day moving average is $56.31. Delta Air Lines, Inc. has a one year low of $37.29 and a one year high of $69.98.

Delta Air Lines (NYSE:DAL) last released its earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. The firm had revenue of $15.56 billion for the quarter, compared to analysts’ expectations of $14.20 billion. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. Equities analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, February 27th. Delta Air Lines’s dividend payout ratio (DPR) is currently 11.26%.

Insider Buying and Selling at Delta Air Lines

In other news, CEO Edward H. Bastian sold 91,710 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the transaction, the chief executive officer now owns 439,819 shares in the company, valued at $30,721,357.15. This trade represents a 17.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William C. Carroll sold 8,400 shares of Delta Air Lines stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $66.02, for a total value of $554,568.00. Following the completion of the sale, the senior vice president now directly owns 19,756 shares in the company, valued at approximately $1,304,291.12. This represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,886 shares of company stock worth $11,116,463. Insiders own 0.96% of the company’s stock.

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.