US Bancorp DE cut its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,696 shares of the airline’s stock after selling 22,448 shares during the period. US Bancorp DE’s holdings in Southwest Airlines were worth $10,138,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hanson McClain Inc. raised its position in shares of Southwest Airlines by 2.9% in the second quarter. Hanson McClain Inc. now owns 2,653 shares of the airline’s stock valued at $104,000 after buying an additional 75 shares during the period. Washington Trust Bank raised its position in shares of Southwest Airlines by 6.9% in the third quarter. Washington Trust Bank now owns 2,704 shares of the airline’s stock valued at $105,000 after buying an additional 174 shares during the period. Invictus RG raised its position in shares of Southwest Airlines by 637.0% in the second quarter. Invictus RG now owns 2,771 shares of the airline’s stock valued at $109,000 after buying an additional 2,395 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of Southwest Airlines during the second quarter valued at about $115,000. Finally, Krilogy Financial LLC raised its position in shares of Southwest Airlines by 45.2% in the second quarter. Krilogy Financial LLC now owns 3,284 shares of the airline’s stock valued at $129,000 after buying an additional 1,023 shares during the period. 75.66% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

Shares of Southwest Airlines Co. (NYSE:LUV) traded down 0.66% during mid-day trading on Wednesday, reaching $46.93. The company had a trading volume of 3,731,296 shares. The stock has a market capitalization of $28.89 billion, a P/E ratio of 13.34 and a beta of 0.86. The firm has a 50 day moving average of $42.69 and a 200-day moving average of $40.03. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.05. The business earned $5.10 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share. Analysts forecast that Southwest Airlines Co. will post $3.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 8th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 6th. Southwest Airlines’s payout ratio is 11.40%.

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A number of equities analysts have recently weighed in on LUV shares. Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, August 2nd. Morgan Stanley reaffirmed a “hold” rating and set a $43.00 target price on shares of Southwest Airlines in a research report on Sunday, August 21st. Imperial Capital started coverage on Southwest Airlines in a research report on Friday, September 9th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Credit Suisse Group AG set a $48.00 target price on Southwest Airlines and gave the stock a “buy” rating in a research report on Monday, September 12th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $50.70.

Southwest Airlines Company Profile

Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.

5 Day Chart for NYSE:LUV

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