State of Tennessee Treasury Department Sells 140,559 Shares of Delta Air Lines, Inc. (NYSE:DAL)

State of Tennessee Treasury Department cut its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 13.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 918,076 shares of the transportation company’s stock after selling 140,559 shares during the period. State of Tennessee Treasury Department owned approximately 0.14% of Delta Air Lines worth $47,419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DAL. MACRO Consulting Group grew its holdings in Delta Air Lines by 1.0% during the 1st quarter. MACRO Consulting Group now owns 28,072 shares of the transportation company’s stock valued at $1,448,000 after buying an additional 272 shares during the last quarter. State of Wisconsin Investment Board raised its position in Delta Air Lines by 12.1% in the first quarter. State of Wisconsin Investment Board now owns 407,904 shares of the transportation company’s stock valued at $21,068,000 after purchasing an additional 44,131 shares during the period. Meitav Dash Investments Ltd. raised its position in Delta Air Lines by 28.6% in the first quarter. Meitav Dash Investments Ltd. now owns 30,185 shares of the transportation company’s stock valued at $1,519,000 after purchasing an additional 6,720 shares during the period. Thompson Siegel & Walmsley LLC raised its position in Delta Air Lines by 13.5% in the first quarter. Thompson Siegel & Walmsley LLC now owns 54,091 shares of the transportation company’s stock valued at $2,794,000 after purchasing an additional 6,450 shares during the period. Finally, Principal Financial Group Inc. raised its position in Delta Air Lines by 7.1% in the first quarter. Principal Financial Group Inc. now owns 3,554,610 shares of the transportation company’s stock valued at $183,596,000 after purchasing an additional 235,266 shares during the period. 87.21% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the company. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Friday, May 31st. Morgan Stanley lowered Delta Air Lines from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $62.00 to $61.00 in a research report on Monday, May 20th. Citigroup raised their price objective on Delta Air Lines from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Raymond James raised their price objective on Delta Air Lines from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, Credit Suisse Group raised their target price on Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.97.

In related news, EVP Joanne D. Smith sold 34,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $58.00, for a total transaction of $1,972,000.00. Following the sale, the executive vice president now owns 93,600 shares of the company’s stock, valued at $5,428,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO W Gilbert West sold 7,465 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $58.52, for a total value of $436,851.80. Following the sale, the chief operating officer now directly owns 94,933 shares in the company, valued at approximately $5,555,479.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,468 shares of company stock worth $6,118,032. Corporate insiders own 0.47% of the company’s stock.

DAL stock traded down $0.07 during midday trading on Friday, reaching $56.75. The company had a trading volume of 7,411,391 shares, compared to its average volume of 6,703,657. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.34 and a quick ratio of 0.29. The stock’s 50 day moving average price is $55.00. Delta Air Lines, Inc. has a fifty-two week low of $45.08 and a fifty-two week high of $61.32. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.61 and a beta of 1.16.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, April 10th. The transportation company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.06. The company had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.39 billion. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, analysts anticipate that Delta Air Lines, Inc. will post 6.7 EPS for the current fiscal year.

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 and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

Further Reading: Outstanding Shares

Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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