Southwest Airlines Co. (NYSE:LUV) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its stake in Southwest Airlines Co. (NYSE:LUVGet Rating) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 409,793 shares of the airline’s stock after selling 10,381 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.07% of Southwest Airlines worth $12,638,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Southwest Airlines by 14.2% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 76,498 shares of the airline’s stock worth $2,763,000 after acquiring an additional 9,540 shares during the last quarter. Heritage Wealth Management LLC acquired a new position in Southwest Airlines in the second quarter valued at $35,000. Integrated Advisors Network LLC increased its stake in Southwest Airlines by 6.9% in the second quarter. Integrated Advisors Network LLC now owns 9,656 shares of the airline’s stock valued at $349,000 after purchasing an additional 621 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in Southwest Airlines in the first quarter valued at $152,000. Finally, New York State Teachers Retirement System increased its stake in Southwest Airlines by 2.1% in the second quarter. New York State Teachers Retirement System now owns 605,255 shares of the airline’s stock valued at $21,862,000 after purchasing an additional 12,721 shares during the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Southwest Airlines

In related news, Director John T. Montford sold 2,250 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $38.87, for a total value of $87,457.50. Following the completion of the transaction, the director now owns 21,046 shares of the company’s stock, valued at $818,058.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LUV shares. Susquehanna dropped their target price on Southwest Airlines from $45.00 to $40.00 in a research note on Tuesday, October 11th. Susquehanna Bancshares lowered their price target on Southwest Airlines from $45.00 to $40.00 in a research report on Tuesday, October 11th. Barclays boosted their price target on Southwest Airlines from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, December 1st. StockNews.com raised Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. Finally, The Goldman Sachs Group began coverage on Southwest Airlines in a research report on Friday, December 16th. They set a “neutral” rating and a $41.00 price target for the company. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.43.

Southwest Airlines Price Performance

Shares of NYSE LUV opened at $35.08 on Friday. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.73 and a beta of 1.10. Southwest Airlines Co. has a 1-year low of $30.20 and a 1-year high of $50.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.58 and a quick ratio of 1.50. The business has a 50-day moving average of $37.07 and a 200-day moving average of $36.65.

Southwest Airlines (NYSE:LUVGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The airline reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.22 billion. Southwest Airlines had a return on equity of 9.66% and a net margin of 3.64%. Southwest Airlines’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, equities analysts anticipate that Southwest Airlines Co. will post 2.24 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 10th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Monday, January 9th.

About Southwest Airlines

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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

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

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