Twin Capital Management Inc. cut its position in shares of Southwest Airlines Co (NYSE:LUV) by 92.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,110 shares of the airline’s stock after selling 118,200 shares during the quarter. Twin Capital Management Inc.’s holdings in Southwest Airlines were worth $513,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of LUV. Dimensional Fund Advisors LP grew its position in Southwest Airlines by 37.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock valued at $228,736,000 after acquiring an additional 1,348,168 shares in the last quarter. Geode Capital Management LLC grew its position in Southwest Airlines by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 6,706,799 shares of the airline’s stock valued at $311,306,000 after acquiring an additional 809,418 shares in the last quarter. DNB Asset Management AS grew its position in Southwest Airlines by 2.2% in the 1st quarter. DNB Asset Management AS now owns 20,266 shares of the airline’s stock valued at $1,052,000 after acquiring an additional 436 shares in the last quarter. Virtu Financial LLC grew its position in Southwest Airlines by 13.7% in the 1st quarter. Virtu Financial LLC now owns 9,238 shares of the airline’s stock valued at $480,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Raymond James Trust N.A. grew its position in shares of Southwest Airlines by 2.1% during the first quarter. Raymond James Trust N.A. now owns 10,238 shares of the airline’s stock worth $532,000 after buying an additional 209 shares in the last quarter. Institutional investors own 84.25% of the company’s stock.
A number of brokerages have recently commented on LUV. Morgan Stanley lowered their price objective on Southwest Airlines from $64.00 to $59.00 and set an “overweight” rating for the company in a research report on Wednesday. Imperial Capital reissued an “in-line” rating and set a $55.00 price objective (up from $52.00) on shares of Southwest Airlines in a research report on Friday, April 26th. Barclays lowered their price objective on Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Wolfe Research raised Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Friday. Finally, Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research report on Thursday, May 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.15.
LUV stock traded up $1.58 during trading on Friday, hitting $49.79. 2,836,600 shares of the company’s stock were exchanged, compared to its average volume of 3,999,713. The business has a 50-day moving average price of $51.63 and a two-hundred day moving average price of $52.41. The stock has a market capitalization of $26.21 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.05 and a beta of 1.50. Southwest Airlines Co has a 52-week low of $44.28 and a 52-week high of $64.02. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 0.37.
Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.02. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. On average, equities research analysts anticipate that Southwest Airlines Co will post 4.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, August 20th. Southwest Airlines’s payout ratio is 16.98%.
About Southwest Airlines
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, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 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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