Financial Management Professionals Inc. cut its position in Southwest Airlines Co (NYSE:LUV) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,613 shares of the airline’s stock after selling 255 shares during the quarter. Financial Management Professionals Inc.’s holdings in Southwest Airlines were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of Southwest Airlines by 14.0% during the first quarter. First Trust Advisors LP now owns 842,322 shares of the airline’s stock valued at $43,725,000 after purchasing an additional 103,619 shares during the period. GAM Holding AG boosted its stake in shares of Southwest Airlines by 18.7% during the first quarter. GAM Holding AG now owns 9,237 shares of the airline’s stock valued at $479,000 after purchasing an additional 1,453 shares during the period. Private Advisor Group LLC boosted its stake in shares of Southwest Airlines by 1.9% during the first quarter. Private Advisor Group LLC now owns 22,696 shares of the airline’s stock valued at $1,181,000 after purchasing an additional 418 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in shares of Southwest Airlines by 76.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,737 shares of the airline’s stock valued at $90,000 after purchasing an additional 755 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in Southwest Airlines by 114.4% in the first quarter. Lazard Asset Management LLC now owns 228,784 shares of the airline’s stock worth $11,875,000 after acquiring an additional 122,090 shares during the period. 82.01% of the stock is owned by institutional investors and hedge funds.
LUV stock traded up $0.25 on Friday, reaching $53.92. The company’s stock had a trading volume of 3,018,841 shares, compared to its average volume of 3,981,138. The business has a fifty day simple moving average of $53.21 and a two-hundred day simple moving average of $52.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.59 and a current ratio of 0.64. The firm has a market cap of $28.50 billion, a PE ratio of 12.72, a PEG ratio of 1.39 and a beta of 1.48. Southwest Airlines Co has a 12-month low of $44.28 and a 12-month high of $60.86.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Wednesday, August 21st were issued a $0.18 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.72 dividend on an annualized basis and a yield of 1.34%. Southwest Airlines’s dividend payout ratio (DPR) is 16.98%.
A number of analysts recently commented on LUV shares. Bank of America raised Southwest Airlines to a “buy” rating and set a $65.00 price target for the company in a research note on Monday, September 23rd. Berenberg Bank started coverage on Southwest Airlines in a research note on Friday, September 6th. They issued a “hold” rating and a $57.00 price target for the company. Wolfe Research raised Southwest Airlines from a “peer perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Friday, August 16th. Macquarie raised Southwest Airlines from a “neutral” rating to an “outperform” rating and set a $67.00 price target for the company in a research note on Friday, September 13th. Finally, Argus lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $57.95.
Southwest Airlines Company 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, 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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