Texas Permanent School Fund Corp Acquires 43,050 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Posted by Defense World Staff on Jul 24th, 2023

Texas Permanent School Fund Corp raised its position in Delta Air Lines, Inc. (NYSE:DAL – Free Report) by 47.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,485 shares of the transportation company’s stock after buying an additional 43,050 shares during the period. Texas Permanent School Fund Corp’s holdings in Delta Air Lines were worth $4,661,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in Delta Air Lines by 117.6% in the 1st quarter. Pacifica Partners Inc. now owns 740 shares of the transportation company’s stock valued at $25,000 after buying an additional 400 shares during the last quarter. Sound Income Strategies LLC increased its stake in Delta Air Lines by 1,136.7% in the 1st quarter. Sound Income Strategies LLC now owns 742 shares of the transportation company’s stock valued at $26,000 after buying an additional 682 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Delta Air Lines in the 4th quarter valued at about $28,000. Sittner & Nelson LLC increased its stake in Delta Air Lines by 200.0% in the 4th quarter. Sittner & Nelson LLC now owns 900 shares of the transportation company’s stock valued at $30,000 after buying an additional 600 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Delta Air Lines in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 68.35% of the company’s stock.

Delta Air Lines Stock Down 0.3 %

Shares of NYSE:DAL opened at $48.55 on Monday. The firm has a fifty day moving average price of $41.99 and a two-hundred day moving average price of $38.23. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.46 and a quick ratio of 0.41. Delta Air Lines, Inc. has a one year low of $27.20 and a one year high of $49.81. The company has a market cap of $31.24 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 0.19 and a beta of 1.31.

Delta Air Lines (NYSE:DAL – Get Free Report) last announced its quarterly earnings results on Thursday, July 13th. The transportation company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.40 by $0.28. Delta Air Lines had a net margin of 5.36% and a return on equity of 59.56%. The firm had revenue of $15.58 billion during the quarter, compared to the consensus estimate of $14.44 billion. During the same period last year, the firm earned $1.44 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts anticipate that Delta Air Lines, Inc. will post 6.63 EPS for the current fiscal year.

Delta Air Lines Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 17th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, July 14th. Delta Air Lines’s dividend payout ratio is currently 8.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Susquehanna raised their price target on shares of Delta Air Lines from $45.00 to $54.00 in a research note on Wednesday, June 28th. Bank of America raised their price target on shares of Delta Air Lines from $50.00 to $53.00 in a research note on Monday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of Delta Air Lines from $81.00 to $69.00 in a research note on Monday, May 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Delta Air Lines from $47.00 to $58.00 in a research note on Wednesday, June 28th. Finally, Citigroup raised their price target on shares of Delta Air Lines from $65.00 to $67.00 in a research note on Sunday, July 16th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $56.88.

Insider Transactions at Delta Air Lines

In other news, EVP Joanne D. Smith sold 7,513 shares of Delta Air Lines stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $36.90, for a total transaction of $277,229.70. Following the completion of the sale, the executive vice president now directly owns 107,782 shares of the company’s stock, valued at approximately $3,977,155.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael P. Huerta sold 3,350 shares of Delta Air Lines stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $48.43, for a total transaction of $162,240.50. Following the completion of the sale, the director now directly owns 27,465 shares of the company’s stock, valued at approximately $1,330,129.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanne D. Smith sold 7,513 shares of Delta Air Lines stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $36.90, for a total transaction of $277,229.70. Following the sale, the executive vice president now directly owns 107,782 shares of the company’s stock, valued at $3,977,155.80. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Delta Air Lines Profile

(Free Report)

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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.