Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Southwest Airlines Co (NYSE:LUV) by 64.2% during the third quarter, Holdings Channel reports. The institutional investor owned 110,911 shares of the airline’s stock after selling 199,157 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Southwest Airlines were worth $6,926,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in LUV. Westpac Banking Corp grew its stake in shares of Southwest Airlines by 42.3% in the third quarter. Westpac Banking Corp now owns 219,771 shares of the airline’s stock worth $13,725,000 after purchasing an additional 65,308 shares during the last quarter. Bridgeworth LLC grew its stake in shares of Southwest Airlines by 98.5% in the third quarter. Bridgeworth LLC now owns 13,686 shares of the airline’s stock worth $425,000 after purchasing an additional 6,793 shares during the last quarter. Royal Bank of Scotland Group PLC grew its stake in shares of Southwest Airlines by 4.6% in the third quarter. Royal Bank of Scotland Group PLC now owns 356,073 shares of the airline’s stock worth $22,237,000 after purchasing an additional 15,791 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Southwest Airlines by 8.5% in the third quarter. Canada Pension Plan Investment Board now owns 420,304 shares of the airline’s stock worth $26,248,000 after purchasing an additional 32,750 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Southwest Airlines by 11.8% in the third quarter. FMR LLC now owns 12,725,686 shares of the airline’s stock worth $794,719,000 after purchasing an additional 1,343,228 shares during the last quarter. 79.44% of the stock is currently owned by hedge funds and other institutional investors.
Southwest Airlines stock opened at $51.36 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 0.47. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.16 and a beta of 1.23. Southwest Airlines Co has a fifty-two week low of $47.10 and a fifty-two week high of $66.99.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 25th. The airline reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Southwest Airlines had a return on equity of 22.27% and a net margin of 17.18%. During the same period in the previous year, the firm posted $0.88 EPS. As a group, analysts forecast that Southwest Airlines Co will post 4.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.64 annualized dividend and a yield of 1.25%. Southwest Airlines’s payout ratio is 18.29%.
Several analysts recently issued reports on LUV shares. Morgan Stanley reissued a “buy” rating on shares of Southwest Airlines in a research note on Tuesday, August 14th. Imperial Capital raised their target price on Southwest Airlines from $54.00 to $60.00 and gave the stock an “inline” rating in a research note on Wednesday, August 22nd. Wolfe Research cut Southwest Airlines from an “outperform” rating to a “peer perform” rating in a research note on Friday, August 24th. Argus raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Friday, September 7th. Finally, Buckingham Research raised their target price on Southwest Airlines from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $65.38.
In other Southwest Airlines news, Director John T. Montford sold 956 shares of Southwest Airlines stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $52.35, for a total transaction of $50,046.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.
Southwest Airlines Profile
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 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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