Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Southwest Airlines Co. (NYSE:LUV – Free Report) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 431,549 shares of the airline’s stock after buying an additional 1,767 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.07% of Southwest Airlines worth $14,043,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new position in Southwest Airlines in the fourth quarter valued at approximately $32,000. Samalin Investment Counsel LLC lifted its stake in Southwest Airlines by 247.5% in the first quarter. Samalin Investment Counsel LLC now owns 702 shares of the airline’s stock valued at $32,000 after buying an additional 500 shares during the period. New England Capital Financial Advisors LLC acquired a new position in Southwest Airlines in the fourth quarter valued at approximately $38,000. True Wealth Design LLC acquired a new position in Southwest Airlines in the fourth quarter valued at approximately $38,000. Finally, ICA Group Wealth Management LLC acquired a new position in Southwest Airlines in the fourth quarter valued at approximately $42,000. 75.81% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Southwest Airlines
In other Southwest Airlines news, EVP Ryan C. Green sold 4,936 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $29.94, for a total value of $147,783.84. Following the completion of the transaction, the executive vice president now owns 26,361 shares in the company, valued at approximately $789,248.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.
Southwest Airlines Trading Up 0.5 %
Shares of Southwest Airlines stock opened at $37.28 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.19. The firm has a market cap of $22.18 billion, a PE ratio of 37.28, a P/E/G ratio of 0.43 and a beta of 1.19. Southwest Airlines Co. has a 1 year low of $28.40 and a 1 year high of $41.26. The stock has a fifty day moving average price of $33.37 and a 200-day moving average price of $33.20.
Southwest Airlines (NYSE:LUV – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The airline reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.73 billion. Southwest Airlines had a return on equity of 6.99% and a net margin of 2.65%. The firm’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) EPS. Equities research analysts anticipate that Southwest Airlines Co. will post 2.64 EPS for the current year.
Southwest Airlines Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Wednesday, June 21st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, June 20th. This represents a $0.72 annualized dividend and a dividend yield of 1.93%. Southwest Airlines’s payout ratio is 72.00%.
Analyst Ratings Changes
LUV has been the subject of several recent research reports. 22nd Century Group restated a “maintains” rating on shares of Southwest Airlines in a report on Monday, June 26th. JPMorgan Chase & Co. downgraded Southwest Airlines from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $64.00 to $39.00 in a report on Monday, May 8th. Bank of America boosted their price objective on Southwest Airlines from $39.00 to $45.00 in a report on Monday, June 26th. Barclays boosted their price objective on Southwest Airlines from $38.00 to $40.00 in a report on Thursday, July 13th. Finally, StockNews.com initiated coverage on Southwest Airlines in a report on Thursday, May 18th. They set a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.53.
Southwest Airlines Profile
Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
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