Oregon Public Employees Retirement Fund grew its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 272,097 shares of the transportation company’s stock after acquiring an additional 2,008 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Delta Air Lines were worth $15,735,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DAL. Huntington National Bank lifted its holdings in Delta Air Lines by 73.8% in the 2nd quarter. Huntington National Bank now owns 2,701 shares of the transportation company’s stock worth $134,000 after buying an additional 1,147 shares during the period. Capital Advisors Ltd. LLC purchased a new stake in Delta Air Lines in the 3rd quarter worth approximately $139,000. Point72 Hong Kong Ltd purchased a new stake in Delta Air Lines in the 2nd quarter worth approximately $142,000. Truvestments Capital LLC purchased a new stake in Delta Air Lines in the 3rd quarter worth approximately $143,000. Finally, Baker Ellis Asset Management LLC purchased a new stake in Delta Air Lines in the 2nd quarter worth approximately $163,000. Institutional investors and hedge funds own 87.94% of the company’s stock.
In related news, Director William H. Easter III sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $58.47, for a total transaction of $175,410.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 4,353 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $57.50, for a total value of $250,297.50. Following the transaction, the executive vice president now directly owns 90,972 shares of the company’s stock, valued at approximately $5,230,890. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,353 shares of company stock valued at $2,350,708. 0.33% of the stock is owned by corporate insiders.
Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 11th. The transportation company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.06. The company had revenue of $11.95 billion during the quarter, compared to analysts’ expectations of $11.96 billion. Delta Air Lines had a return on equity of 27.72% and a net margin of 7.87%. During the same quarter last year, the business posted $1.57 EPS. As a group, research analysts expect that Delta Air Lines, Inc. will post 5.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Wednesday, November 7th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, November 6th. Delta Air Lines’s dividend payout ratio (DPR) is presently 28.40%.
Several equities research analysts have weighed in on the company. Deutsche Bank upgraded Delta Air Lines from a “hold” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $60.00 in a report on Wednesday, October 17th. Morgan Stanley increased their price objective on Delta Air Lines from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, October 12th. Bank of America dropped their price objective on Delta Air Lines from $67.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. Buckingham Research dropped their price objective on Delta Air Lines from $71.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, October 10th. Finally, Macquarie set a $69.00 target price on Delta Air Lines and gave the company a “buy” rating in a research note on Monday, October 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $67.99.
About Delta Air Lines
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 route network is centered on a system of hubs, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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