Metropolitan Life Insurance Co. NY lessened its position in shares of Southwest Airlines Co (NYSE:LUV) by 61.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,982 shares of the airline’s stock after selling 176,677 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Southwest Airlines were worth $7,133,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BB&T Investment Services Inc. lifted its position in shares of Southwest Airlines by 325.5% during the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock valued at $110,000 after buying an additional 1,211 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at $127,000. SeaCrest Wealth Management LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at $136,000. Delpha Capital Management LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at $151,000. Finally, Grove Bank & Trust lifted its position in shares of Southwest Airlines by 365.0% during the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after buying an additional 1,880 shares during the last quarter. 80.05% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Gregory D. Wells sold 8,323 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $58.88, for a total value of $490,058.24. Following the completion of the transaction, the executive vice president now directly owns 30,262 shares in the company, valued at approximately $1,781,826.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Dr Cunningham acquired 3,500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $56.25 per share, with a total value of $196,875.00. Following the completion of the acquisition, the director now directly owns 70,469 shares in the company, valued at approximately $3,963,881.25. The disclosure for this purchase can be found here. Insiders sold a total of 108,473 shares of company stock worth $6,296,091 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.
Southwest Airlines Co (NYSE:LUV) opened at $60.90 on Friday. The firm has a market capitalization of $35,806.21, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.45. Southwest Airlines Co has a one year low of $49.76 and a one year high of $66.99.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, January 25th. The airline reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.25 billion. Southwest Airlines had a return on equity of 23.43% and a net margin of 16.48%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. equities analysts predict that Southwest Airlines Co will post 4.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.82%. Southwest Airlines’s dividend payout ratio is currently 8.59%.
A number of research analysts have recently commented on the company. Bank of America cut Southwest Airlines from a “buy” rating to a “neutral” rating and set a $73.00 price target on the stock. in a research report on Tuesday, January 9th. Vetr upgraded Southwest Airlines from a “strong sell” rating to a “sell” rating and set a $60.23 price objective on the stock in a research note on Tuesday, December 26th. Atlantic Securities upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $48.71 to $71.00 in a research note on Thursday, December 14th. Zacks Investment Research lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, ValuEngine lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $67.83.
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Southwest Airlines Company Profile
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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