Exxonmobil Investment Management Inc. TX reduced its stake in shares of Southwest Airlines Co (NYSE:LUV) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,803 shares of the airline’s stock after selling 13,759 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Southwest Airlines were worth $5,681,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in LUV. BB&T Investment Services Inc. lifted its position in shares of Southwest Airlines by 325.5% in the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock worth $110,000 after buying an additional 1,211 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Southwest Airlines by 365.0% in the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock worth $134,000 after buying an additional 1,880 shares during the last quarter. Harfst & Associates Inc. lifted its position in shares of Southwest Airlines by 43.8% in the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock worth $149,000 after buying an additional 732 shares during the last quarter. Smith Moore & CO. bought a new position in shares of Southwest Airlines in the 3rd quarter worth about $206,000. Finally, Courier Capital LLC bought a new position in shares of Southwest Airlines in the 3rd quarter worth about $208,000. 78.47% of the stock is owned by institutional investors.
LUV has been the topic of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and issued a $80.00 price target on shares of Southwest Airlines in a research report on Wednesday, November 1st. Deutsche Bank restated a “buy” rating and issued a $71.00 price target on shares of Southwest Airlines in a research report on Friday, October 27th. Vetr upgraded shares of Southwest Airlines from a “sell” rating to a “buy” rating and set a $55.93 price target on the stock in a research report on Monday, November 13th. Cowen restated a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a research report on Tuesday, January 9th. Finally, Zacks Investment Research upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Southwest Airlines has a consensus rating of “Buy” and a consensus price target of $67.97.
Shares of Southwest Airlines Co (NYSE:LUV) traded down $1.60 during trading hours on Friday, reaching $58.71. 4,479,571 shares of the company traded hands, compared to its average volume of 4,840,000. The company has a market cap of $34,840.00, a P/E ratio of 10.09, a PEG ratio of 1.10 and a beta of 1.17. Southwest Airlines Co has a 12-month low of $49.76 and a 12-month high of $66.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.64 and a current ratio of 0.70.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, January 25th. The airline reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Southwest Airlines had a net margin of 16.48% and a return on equity of 23.43%. Southwest Airlines’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. sell-side analysts anticipate that Southwest Airlines Co will post 4.92 EPS for the current fiscal year.
The business 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 dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.50 annualized dividend and a yield of 0.85%. Southwest Airlines’s payout ratio is 8.59%.
In other news, Director John T. Montford sold 935 shares of Southwest Airlines stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total value of $50,433.90. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert E. Jordan sold 32,931 shares of Southwest Airlines stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.38, for a total transaction of $2,120,097.78. Following the completion of the transaction, the executive vice president now directly owns 76,993 shares in the company, valued at approximately $4,956,809.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,561 shares of company stock worth $2,277,774. 0.21% of the stock is owned by corporate insiders.
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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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