Franklin Resources Inc. lowered its stake in Southwest Airlines Co (NYSE:LUV) by 94.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,378 shares of the airline’s stock after selling 114,828 shares during the period. Franklin Resources Inc.’s holdings in Southwest Airlines were worth $318,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of LUV. GSA Capital Partners LLP boosted its stake in Southwest Airlines by 22.3% in the fourth quarter. GSA Capital Partners LLP now owns 7,142 shares of the airline’s stock valued at $356,000 after buying an additional 1,303 shares during the period. Fred Alger Management Inc. raised its position in shares of Southwest Airlines by 2.6% in the fourth quarter. Fred Alger Management Inc. now owns 1,612,483 shares of the airline’s stock valued at $80,366,000 after buying an additional 40,975 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of Southwest Airlines during the fourth quarter valued at $623,000. Intact Investment Management Inc. purchased a new position in shares of Southwest Airlines during the fourth quarter valued at $384,000. Finally, Parallel Advisors LLC purchased a new position in shares of Southwest Airlines during the fourth quarter valued at $1,063,000. Institutional investors and hedge funds own 76.70% of the company’s stock.
Southwest Airlines Co (NYSE:LUV) opened at 52.61 on Friday. Southwest Airlines Co has a 52-week low of $35.42 and a 52-week high of $59.68. The firm has a 50-day moving average price of $55.47 and a 200 day moving average price of $47.51. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 14.83 and a beta of 0.88.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, January 26th. The airline reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. Southwest Airlines had a net margin of 10.97% and a return on equity of 29.79%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company posted $0.90 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Southwest Airlines Co will post $3.80 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, March 7th. Southwest Airlines’s payout ratio is 11.33%.
Several brokerages recently weighed in on LUV. Cowen and Company reaffirmed an “outperform” rating and issued a $55.00 target price (up from $44.00) on shares of Southwest Airlines in a research report on Friday, January 6th. Citigroup Inc reaffirmed a “buy” rating on shares of Southwest Airlines in a research report on Tuesday, December 6th. Morgan Stanley raised Southwest Airlines from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $55.00 in a research report on Thursday, January 5th. Vetr raised Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $57.44 target price on the stock in a research report on Monday, January 9th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $63.00 target price (up from $50.00) on shares of Southwest Airlines in a research report on Wednesday, December 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.16.
In other Southwest Airlines news, SVP Mark R. Shaw sold 1,211 shares of Southwest Airlines stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $58.26, for a total transaction of $70,552.86. Following the transaction, the senior vice president now directly owns 13,048 shares in the company, valued at approximately $760,176.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tammy Romo sold 9,655 shares of Southwest Airlines stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $51.79, for a total transaction of $500,032.45. Following the transaction, the chief financial officer now owns 77,937 shares in the company, valued at $4,036,357.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,281 shares of company stock worth $4,694,320. Corporate insiders own 0.18% of the company’s stock.
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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