State of New Jersey Common Pension Fund D Decreases Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 40.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,474 shares of the transportation company’s stock after selling 36,370 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Delta Air Lines were worth $2,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DAL. Wellington Management Group LLP increased its position in shares of Delta Air Lines by 220.2% during the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after acquiring an additional 5,914,301 shares during the last quarter. Capital International Investors increased its position in shares of Delta Air Lines by 8.8% during the fourth quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after acquiring an additional 1,689,053 shares during the last quarter. Norges Bank purchased a new stake in Delta Air Lines in the fourth quarter worth $65,056,000. Royal London Asset Management Ltd. increased its position in Delta Air Lines by 27.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock worth $260,198,000 after buying an additional 1,376,221 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Delta Air Lines by 96.1% in the first quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock worth $119,057,000 after buying an additional 1,219,074 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

Delta Air Lines Price Performance

NYSE:DAL opened at $46.93 on Thursday. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 6.75, a P/E/G ratio of 0.89 and a beta of 1.34. Delta Air Lines, Inc. has a 52-week low of $30.60 and a 52-week high of $53.86. The stock has a fifty day moving average of $42.25 and a 200 day moving average of $46.21. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). The business had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 EPS. On average, research analysts expect that Delta Air Lines, Inc. will post 5.99 EPS for the current fiscal year.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, Director Willie Cw Chiang acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was bought at an average price of $43.90 per share, with a total value of $439,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $878,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DAL shares. Jefferies Financial Group decreased their target price on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Sanford C. Bernstein decreased their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, July 12th. TD Cowen decreased their target price 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. Finally, Citigroup raised their target price on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.52.

Delta Air Lines Company Profile

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.