Caxton Associates LP lifted its stake in Southwest Airlines Company (NYSE:LUV) by 322.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,300 shares of the airline’s stock after acquiring an additional 21,600 shares during the period. Caxton Associates LP’s holdings in Southwest Airlines were worth $1,584,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Southwest Airlines by 13.1% during the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after buying an additional 1,026,892 shares during the period. Boston Partners boosted its stake in Southwest Airlines by 101.7% during the third quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock valued at $278,822,000 after buying an additional 2,511,258 shares during the period. APG Asset Management N.V. boosted its stake in Southwest Airlines by 16.8% during the third quarter. APG Asset Management N.V. now owns 4,592,536 shares of the airline’s stock valued at $257,090,000 after buying an additional 660,500 shares during the period. Thrivent Financial For Lutherans boosted its stake in Southwest Airlines by 35.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock valued at $257,901,000 after buying an additional 1,090,189 shares during the period. Finally, Rockefeller Financial Services Inc. boosted its stake in Southwest Airlines by 4.0% during the third quarter. Rockefeller Financial Services Inc. now owns 3,193,405 shares of the airline’s stock valued at $178,766,000 after buying an additional 121,447 shares during the period. 78.87% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on LUV. Morgan Stanley set a $64.00 price target on Southwest Airlines and gave the company a “buy” rating in a research report on Thursday, August 17th. Vetr downgraded Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $59.16 price target on the stock. in a research report on Friday, September 22nd. Citigroup restated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of Southwest Airlines in a research report on Thursday, September 7th. Cowen restated a “buy” rating and set a $67.00 price target on shares of Southwest Airlines in a research report on Friday, September 1st. Finally, Deutsche Bank restated a “buy” rating and set a $71.00 price target on shares of Southwest Airlines in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $66.89.
Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.29 billion. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 earnings per share. analysts expect that Southwest Airlines Company will post 3.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.79%. Southwest Airlines’s dividend payout ratio is currently 14.37%.
In other news, Director John T. Montford sold 935 shares of Southwest Airlines stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total value of $50,433.90. Following the transaction, the director now owns 25,000 shares in the company, valued at $1,348,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.
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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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