Ameriprise Financial Inc. cut its position in shares of Southwest Airlines Company (NYSE:LUV) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,612,513 shares of the airline’s stock after selling 1,223,554 shares during the period. Ameriprise Financial Inc. owned 1.28% of Southwest Airlines worth $426,152,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services Inc boosted its holdings in Southwest Airlines by 11.8% in the 3rd quarter. Commonwealth Equity Services Inc now owns 103,582 shares of the airline’s stock valued at $5,798,000 after purchasing an additional 10,894 shares during the period. Putnam FL Investment Management Co. bought a new stake in Southwest Airlines in the 3rd quarter valued at about $1,409,000. Russell Investments Group Ltd. boosted its holdings in Southwest Airlines by 104.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,754,760 shares of the airline’s stock valued at $98,219,000 after purchasing an additional 895,770 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Southwest Airlines by 4.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 487,280 shares of the airline’s stock worth $27,278,000 after acquiring an additional 21,159 shares during the period. Finally, Bristol Gate Capital Partners Inc. lifted its holdings in shares of Southwest Airlines by 13.8% during the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 577,017 shares of the airline’s stock worth $32,301,000 after acquiring an additional 69,760 shares during the period. Institutional investors own 78.87% of the company’s stock.
In related news, Director John T. Montford sold 935 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total transaction of $50,433.90. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $1,348,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.
Southwest Airlines Company (NYSE:LUV) traded up $1.90 during trading on Thursday, hitting $63.02. 5,773,637 shares of the company’s stock were exchanged, compared to its average volume of 5,238,457. Southwest Airlines Company has a 12-month low of $48.71 and a 12-month high of $64.39. The company has a market capitalization of $37,240.00, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. sell-side analysts forecast that Southwest Airlines Company will post 3.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, December 6th. Southwest Airlines’s payout ratio is currently 14.33%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Vetr downgraded shares of Southwest Airlines from a “sell” rating to a “strong sell” rating and set a $54.06 price objective for the company. in a research note on Tuesday. Wolfe Research raised shares of Southwest Airlines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. Barclays reissued a “hold” rating and issued a $61.00 price objective on shares of Southwest Airlines in a research note on Thursday, September 14th. Finally, Cowen restated an “outperform” rating and issued a $64.00 price target (up from $62.00) on shares of Southwest Airlines in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $66.89.
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About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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