Delta Air Lines, Inc. (NYSE:DAL) Position Increased by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC raised its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 8.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,145 shares of the transportation company’s stock after buying an additional 3,934 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Delta Air Lines were worth $2,598,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Senator Investment Group LP increased its holdings in shares of Delta Air Lines by 90.0% in the 2nd quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock valued at $22,534,000 after purchasing an additional 225,000 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Delta Air Lines by 5.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 268,636 shares of the transportation company’s stock valued at $13,644,000 after purchasing an additional 13,802 shares during the period. Olstein Capital Management L.P. increased its holdings in shares of Delta Air Lines by 32.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 175,000 shares of the transportation company’s stock valued at $8,888,000 after purchasing an additional 43,000 shares during the period. River Road Asset Management LLC increased its holdings in shares of Delta Air Lines by 22.8% in the 3rd quarter. River Road Asset Management LLC now owns 130,608 shares of the transportation company’s stock valued at $6,634,000 after purchasing an additional 24,249 shares during the period. Finally, abrdn plc increased its holdings in shares of Delta Air Lines by 36.0% in the 3rd quarter. abrdn plc now owns 135,098 shares of the transportation company’s stock valued at $6,859,000 after purchasing an additional 35,792 shares during the period. 69.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DAL. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Barclays increased their price objective on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen increased their price objective on Delta Air Lines from $59.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group restated a “buy” rating and issued a $83.00 price objective on shares of Delta Air Lines in a report on Friday. Finally, Sanford C. Bernstein increased their price target on Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $71.22.

Insider Transactions at Delta Air Lines

In other news, SVP William C. Carroll sold 21,530 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the transaction, the senior vice president now owns 19,756 shares of the company’s stock, valued at approximately $1,197,608.72. This trade represents a 52.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 3,431 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now owns 108,990 shares of the company’s stock, valued at approximately $5,499,635.40. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,240 shares of company stock worth $8,044,893. Insiders own 0.96% of the company’s stock.

Delta Air Lines Stock Down 1.2 %

Shares of NYSE DAL opened at $64.07 on Monday. Delta Air Lines, Inc. has a 52 week low of $35.28 and a 52 week high of $66.25. The stock’s fifty day moving average is $53.06 and its 200 day moving average is $48.70. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.34 and a current ratio of 0.39. The stock has a market capitalization of $41.34 billion, a P/E ratio of 8.90, a PEG ratio of 1.22 and a beta of 1.33.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, October 10th. The transportation company reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same quarter in the previous year, the company earned $2.03 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Delta Air Lines, Inc. will post 6.07 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Thursday, October 10th. Delta Air Lines’s payout ratio is 8.33%.

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.