California Public Employees Retirement System Has $68.92 Million Stake in Delta Air Lines, Inc. (NYSE:DAL)

California Public Employees Retirement System lessened its position in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,139,230 shares of the transportation company's stock after selling 62,534 shares during the period. California Public Employees Retirement System owned about 0.18% of Delta Air Lines worth $68,923,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. WASHINGTON TRUST Co increased its stake in Delta Air Lines by 7.5% during the fourth quarter. WASHINGTON TRUST Co now owns 2,150 shares of the transportation company's stock valued at $130,000 after purchasing an additional 150 shares during the last quarter. Hemington Wealth Management raised its position in shares of Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock worth $28,000 after purchasing an additional 154 shares during the period. Mason & Associates Inc lifted its holdings in shares of Delta Air Lines by 3.2% in the 4th quarter. Mason & Associates Inc now owns 5,088 shares of the transportation company's stock worth $308,000 after purchasing an additional 160 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Delta Air Lines by 1.2% during the 4th quarter. DAVENPORT & Co LLC now owns 14,298 shares of the transportation company's stock valued at $865,000 after purchasing an additional 173 shares during the period. Finally, Armstrong Advisory Group Inc. grew its stake in Delta Air Lines by 10.6% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,820 shares of the transportation company's stock worth $110,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 69.93% of the company's stock.

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Insider Activity

In other news, EVP Rahul D. Samant sold 17,970 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total transaction of $1,241,367.60. Following the transaction, the executive vice president now owns 35,889 shares in the company, valued at approximately $2,479,212.12. This trade represents a 33.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward H. Bastian sold 91,710 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the transaction, the chief executive officer now owns 439,819 shares in the company, valued at approximately $30,721,357.15. This trade represents a 17.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,886 shares of company stock worth $11,116,463 in the last three months. 0.96% of the stock is owned by insiders.

Delta Air Lines Stock Down 10.8 %

Shares of NYSE DAL traded down $4.68 during mid-day trading on Thursday, reaching $38.70. The company had a trading volume of 18,098,701 shares, compared to its average volume of 9,110,687. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The company has a market capitalization of $25.02 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 0.75 and a beta of 1.34. The stock has a fifty day moving average of $56.92 and a two-hundred day moving average of $58.12. Delta Air Lines, Inc. has a 12-month low of $37.29 and a 12-month high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines's payout ratio is currently 11.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group lowered their price target on shares of Delta Air Lines from $90.00 to $77.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. TD Cowen upped their price objective on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Raymond James decreased their price objective on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating for the company in a report on Wednesday. Susquehanna boosted their target price on Delta Air Lines from $59.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, January 7th. Finally, Barclays cut their target price on Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $71.49.

Delta Air Lines 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.