New York State Teachers Retirement System Cuts Stake in Delta Air Lines, Inc. (DAL)

New York State Teachers Retirement System lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,131,973 shares of the transportation company’s stock after selling 125,636 shares during the quarter. New York State Teachers Retirement System owned 0.16% of Delta Air Lines worth $54,584,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. IHT Wealth Management LLC increased its stake in shares of Delta Air Lines by 40.9% in the second quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after acquiring an additional 220 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Delta Air Lines in the second quarter worth $114,000. FNY Managed Accounts LLC acquired a new stake in shares of Delta Air Lines in the first quarter worth $100,000. Bessemer Group Inc. grew its position in Delta Air Lines by 104.3% during the second quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock valued at $137,000 after buying an additional 1,298 shares during the period. Finally, Advisory Services Network LLC grew its position in Delta Air Lines by 3.0% during the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 87.68% of the company’s stock.

In other news, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.06, for a total transaction of $8,449,274.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Joanne D. Smith sold 33,863 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $53.61, for a total transaction of $1,815,395.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 20,000 shares of company stock worth $273,760 and have sold 200,001 shares worth $10,630,333. Corporate insiders own 0.37% of the company’s stock.

DAL has been the topic of several analyst reports. Stifel Nicolaus restated a “buy” rating and set a $80.00 price target (up previously from $75.00) on shares of Delta Air Lines in a research report on Friday, July 14th. Deutsche Bank AG restated a “buy” rating and set a $62.00 price target (up previously from $58.00) on shares of Delta Air Lines in a research report on Friday, July 14th. BidaskClub lowered shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Vetr upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $56.43 price target on the stock in a research report on Tuesday, July 18th. Finally, ValuEngine lowered shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.16.

WARNING: This piece was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://sportsperspectives.com/2017/11/02/new-york-state-teachers-retirement-system-cuts-stake-in-delta-air-lines-inc-dal.html.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.04. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The business had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.03 billion. During the same period in the prior year, the company posted $1.70 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.

Delta Air Lines Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

Want to see what other hedge funds are holding DAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delta Air Lines, Inc. (NYSE:DAL).

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

Receive News & Ratings for Delta Air Lines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply