Southwest Airlines Co. (NYSE:LUV) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Southwest Airlines Co. (NYSE:LUVGet Rating) by 110.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,041 shares of the airline’s stock after acquiring an additional 7,894 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Southwest Airlines were worth $543,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of LUV. Vanguard Group Inc. raised its stake in Southwest Airlines by 2.0% during the first quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after purchasing an additional 1,213,767 shares during the period. Envestnet Asset Management Inc. raised its stake in Southwest Airlines by 557.3% during the second quarter. Envestnet Asset Management Inc. now owns 946,671 shares of the airline’s stock worth $34,194,000 after purchasing an additional 802,645 shares during the period. Interval Partners LP purchased a new position in Southwest Airlines during the first quarter worth approximately $28,509,000. Carmignac Gestion purchased a new position in Southwest Airlines during the first quarter worth approximately $25,462,000. Finally, Ruffer LLP raised its stake in Southwest Airlines by 98.4% during the second quarter. Ruffer LLP now owns 1,060,570 shares of the airline’s stock worth $38,334,000 after purchasing an additional 525,990 shares during the period. Institutional investors and hedge funds own 76.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LUV. Argus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Bank of America cut their target price on shares of Southwest Airlines from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, October 6th. Susquehanna cut their target price on shares of Southwest Airlines from $45.00 to $40.00 in a research note on Tuesday, October 11th. Citigroup raised their target price on shares of Southwest Airlines to $40.00 in a research note on Tuesday, November 1st. Finally, Melius assumed coverage on shares of Southwest Airlines in a research note on Monday, August 15th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.76.

Southwest Airlines Trading Down 0.6 %

NYSE LUV opened at $37.20 on Thursday. Southwest Airlines Co. has a one year low of $30.20 and a one year high of $50.84. The company has a 50-day simple moving average of $34.63 and a 200-day simple moving average of $38.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.50 and a current ratio of 1.58. The firm has a market capitalization of $22.09 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 2.72 and a beta of 1.07.

Southwest Airlines (NYSE:LUVGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The airline reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. Southwest Airlines had a net margin of 3.64% and a return on equity of 9.66%. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same period in the previous year, the business posted ($0.23) EPS. The company’s quarterly revenue was up 32.5% on a year-over-year basis. On average, equities analysts forecast that Southwest Airlines Co. will post 2.27 earnings per share for the current year.

Southwest Airlines Company Profile

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Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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.

Further Reading

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

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