Fort Washington Investment Advisors Inc. OH reduced its stake in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) by 22.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 969,797 shares of the airline’s stock after selling 286,368 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Southwest Airlines were worth $36,435,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of LUV. AQR Capital Management LLC raised its position in shares of Southwest Airlines by 100.6% during the first quarter. AQR Capital Management LLC now owns 39,347 shares of the airline’s stock valued at $1,303,000 after buying an additional 19,729 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Southwest Airlines by 5.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,060 shares of the airline’s stock valued at $2,050,000 after acquiring an additional 3,141 shares during the period. Empowered Funds LLC raised its holdings in Southwest Airlines by 7.6% in the 1st quarter. Empowered Funds LLC now owns 7,459 shares of the airline’s stock valued at $250,000 after acquiring an additional 527 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Southwest Airlines by 73.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,690 shares of the airline’s stock valued at $185,000 after acquiring an additional 2,408 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Southwest Airlines by 47.4% in the 2nd quarter. First Trust Advisors LP now owns 307,602 shares of the airline’s stock worth $9,979,000 after acquiring an additional 98,986 shares during the period. 80.82% of the stock is owned by institutional investors.
Southwest Airlines Trading Down 0.2%
LUV stock opened at $52.00 on Friday. Southwest Airlines Co. has a 1-year low of $28.98 and a 1-year high of $55.11. The firm has a market cap of $25.42 billion, a P/E ratio of 33.55, a P/E/G ratio of 0.54 and a beta of 1.15. The business’s 50 day moving average is $42.37 and its 200-day moving average is $43.19. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.66.
Southwest Airlines Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date is Thursday, June 11th. Southwest Airlines’s dividend payout ratio is currently 46.45%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on LUV. BNP Paribas Exane lifted their price objective on Southwest Airlines from $24.00 to $33.00 and gave the stock an “underperform” rating in a report on Tuesday, April 21st. Rothschild & Co Redburn raised their target price on Southwest Airlines from $27.00 to $35.00 and gave the stock a “sell” rating in a research report on Thursday, March 5th. Morgan Stanley lifted their price target on shares of Southwest Airlines from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Barclays boosted their price target on shares of Southwest Airlines from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Raymond James Financial increased their price objective on shares of Southwest Airlines from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Southwest Airlines has a consensus rating of “Hold” and an average target price of $46.36.
View Our Latest Analysis on LUV
Southwest Airlines Company Profile
Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.
Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.
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