State of Michigan Retirement System Has $9.22 Million Stock Holdings in Delta Air Lines, Inc. $DAL

State of Michigan Retirement System grew its position in Delta Air Lines, Inc. (NYSE:DAL) by 2.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 187,503 shares of the transportation company’s stock after purchasing an additional 4,700 shares during the quarter. State of Michigan Retirement System’s holdings in Delta Air Lines were worth $9,221,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DAL. Signature Resources Capital Management LLC acquired a new stake in Delta Air Lines in the second quarter worth $25,000. Activest Wealth Management raised its holdings in Delta Air Lines by 2,280.8% in the second quarter. Activest Wealth Management now owns 619 shares of the transportation company’s stock worth $30,000 after purchasing an additional 593 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in Delta Air Lines in the first quarter worth $31,000. Zions Bancorporation National Association UT acquired a new stake in Delta Air Lines in the first quarter worth $33,000. Finally, Hara Capital LLC acquired a new stake in Delta Air Lines in the first quarter worth $35,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Delta Air Lines

In related news, EVP John E. Laughter sold 23,323 shares of the firm’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $62.33, for a total value of $1,453,722.59. Following the completion of the transaction, the executive vice president owned 81,109 shares of the company’s stock, valued at approximately $5,055,523.97. This trade represents a 22.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael P. Huerta sold 2,500 shares of Delta Air Lines stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $60.70, for a total transaction of $151,750.00. Following the completion of the transaction, the director directly owned 33,245 shares of the company’s stock, valued at approximately $2,017,971.50. This trade represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 39,833 shares of company stock valued at $2,463,585. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

DAL has been the topic of several analyst reports. Sanford C. Bernstein increased their target price on shares of Delta Air Lines from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Barclays raised their price objective on shares of Delta Air Lines from $58.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. BNP Paribas Exane raised their price objective on shares of Delta Air Lines from $58.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, July 11th. Seaport Global Securities raised their price objective on shares of Delta Air Lines from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Finally, Raymond James Financial raised their price objective on shares of Delta Air Lines from $68.00 to $70.00 and gave the stock a “strong-buy” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $71.53.

Delta Air Lines Stock Up 2.0%

Delta Air Lines stock opened at $58.52 on Tuesday. The company has a market cap of $38.21 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50. Delta Air Lines, Inc. has a 1-year low of $34.74 and a 1-year high of $69.98. The company has a fifty day simple moving average of $59.40 and a 200 day simple moving average of $53.83. The company has a current ratio of 0.40, a quick ratio of 0.34 and a debt-to-equity ratio of 0.68.

Delta Air Lines (NYSE:DAL) last released its earnings results on Tuesday, March 15th. The transportation company reported $0.22 earnings per share for the quarter. The business had revenue of $8.40 billion during the quarter. Delta Air Lines had a net margin of 7.36% and a return on equity of 23.83%. Research analysts anticipate 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, November 6th. Investors of record on Thursday, October 16th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.3%. Delta Air Lines’s dividend payout ratio (DPR) is 10.56%.

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.