Kentucky Retirement Systems Insurance Trust Fund Sells 1,792 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Delta Air Lines, Inc. (NYSE:DAL) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,132 shares of the transportation company’s stock after selling 1,792 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Delta Air Lines were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC bought a new position in Delta Air Lines during the 4th quarter worth about $27,000. Venturi Wealth Management LLC raised its stake in Delta Air Lines by 396.6% in the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock worth $29,000 after buying an additional 575 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Delta Air Lines by 26,166.7% in the 4th quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 785 shares during the period. Rise Advisors LLC grew its stake in Delta Air Lines by 122.5% in the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 452 shares during the last quarter. Finally, Nordwand Advisors LLC acquired a new stake in Delta Air Lines in the fourth quarter valued at approximately $40,000. 69.93% of the stock is currently owned by institutional investors.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock traded down $0.57 during trading hours on Monday, reaching $43.56. The stock had a trading volume of 2,657,830 shares, compared to its average volume of 9,712,304. Delta Air Lines, Inc. has a twelve month low of $30.60 and a twelve month high of $53.86. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $28.11 billion, a PE ratio of 6.35, a PEG ratio of 0.91 and a beta of 1.35. The stock’s 50 day moving average is $48.23 and its 200 day moving average is $45.82.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The business had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $2.68 EPS. Equities analysts expect that Delta Air Lines, Inc. will post 6.26 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Tuesday, July 30th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s dividend payout ratio (DPR) is 5.76%.

Insider Transactions at Delta Air Lines

In related news, EVP Joanne D. Smith sold 4,846 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total value of $253,445.80. Following the completion of the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were acquired at an average cost of $43.90 per share, with a total value of $439,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $878,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total value of $253,445.80. Following the transaction, the executive vice president now owns 112,421 shares in the company, valued at $5,879,618.30. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group reduced their target price on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Sanford C. Bernstein dropped their target price on shares of Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Morgan Stanley reissued an “overweight” rating and set a $85.00 price objective on shares of Delta Air Lines in a report on Thursday, April 11th. Finally, TD Cowen lowered their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $60.70.

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 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.