49,731 Shares in Southwest Airlines Co. (NYSE:LUV) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in Southwest Airlines Co. (NYSE:LUV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 49,731 shares of the airline's stock, valued at approximately $1,675,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sanctuary Advisors LLC lifted its stake in Southwest Airlines by 32.9% in the third quarter. Sanctuary Advisors LLC now owns 65,831 shares of the airline's stock valued at $2,105,000 after buying an additional 16,293 shares during the period. Vista Investment Partners LLC acquired a new position in shares of Southwest Airlines during the 4th quarter valued at $614,000. Inspire Trust Co. N.A. lifted its position in shares of Southwest Airlines by 23.6% during the 3rd quarter. Inspire Trust Co. N.A. now owns 99,407 shares of the airline's stock valued at $2,945,000 after acquiring an additional 19,000 shares during the period. Savant Capital LLC boosted its stake in Southwest Airlines by 13.3% during the fourth quarter. Savant Capital LLC now owns 16,503 shares of the airline's stock worth $555,000 after acquiring an additional 1,941 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new stake in Southwest Airlines in the fourth quarter worth $608,000. 80.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Southwest Airlines

In other news, Director C. David Cush acquired 5,000 shares of Southwest Airlines stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $30.03 per share, with a total value of $150,150.00. Following the completion of the acquisition, the director now owns 19,011 shares in the company, valued at approximately $570,900.33. This trade represents a 35.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Remove Ads

Southwest Airlines Stock Performance

Southwest Airlines stock traded up $0.50 during mid-day trading on Tuesday, reaching $26.06. 2,539,342 shares of the company's stock were exchanged, compared to its average volume of 9,838,387. The business's fifty day simple moving average is $30.33 and its 200 day simple moving average is $31.44. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.49. Southwest Airlines Co. has a one year low of $23.58 and a one year high of $36.12. The firm has a market capitalization of $14.95 billion, a PE ratio of 36.20, a P/E/G ratio of 0.97 and a beta of 0.94.

Southwest Airlines (NYSE:LUV - Get Free Report) last released its earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. On average, sell-side analysts expect that Southwest Airlines Co. will post 1.55 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Wednesday, March 12th. Southwest Airlines's dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James raised their target price on Southwest Airlines from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, April 2nd. Melius Research raised Southwest Airlines from a "sell" rating to a "hold" rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their target price on Southwest Airlines from $25.00 to $30.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 18th. Barclays reduced their price target on shares of Southwest Airlines from $35.00 to $32.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Argus raised shares of Southwest Airlines from a "hold" rating to a "buy" rating and set a $35.00 price objective on the stock in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Southwest Airlines has an average rating of "Hold" and a consensus price target of $30.88.

Southwest Airlines Company Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.