Signaturefd LLC Has $282,000 Stake in Southwest Airlines Co. (NYSE:LUV)

Signaturefd LLC reduced its position in shares of Southwest Airlines Co. (NYSE:LUV) by 11.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,514 shares of the airline’s stock after selling 1,276 shares during the quarter. Signaturefd LLC’s holdings in Southwest Airlines were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in Southwest Airlines by 15.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,497 shares of the airline’s stock worth $370,000 after purchasing an additional 1,700 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in Southwest Airlines by 38.7% during the 3rd quarter. Everence Capital Management Inc. now owns 51,320 shares of the airline’s stock worth $1,521,000 after purchasing an additional 14,330 shares during the last quarter. New Century Financial Group LLC acquired a new stake in Southwest Airlines during the 3rd quarter worth approximately $242,000. Blue Trust Inc. lifted its holdings in Southwest Airlines by 6.2% during the 3rd quarter. Blue Trust Inc. now owns 8,759 shares of the airline’s stock worth $251,000 after purchasing an additional 513 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in Southwest Airlines by 28.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 9,453 shares of the airline’s stock worth $280,000 after purchasing an additional 2,079 shares during the last quarter. 80.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LUV has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $29.00 price objective (down previously from $32.00) on shares of Southwest Airlines in a research note on Friday, July 26th. TD Cowen raised their price objective on Southwest Airlines from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Susquehanna raised their price objective on Southwest Airlines from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. BNP Paribas upgraded Southwest Airlines to a “strong sell” rating in a research note on Thursday, September 19th. Finally, Sanford C. Bernstein lowered their price objective on Southwest Airlines from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Southwest Airlines has a consensus rating of “Hold” and an average target price of $30.14.

Southwest Airlines Stock Up 1.4 %

Shares of NYSE:LUV opened at $29.43 on Friday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 46.71, a P/E/G ratio of 11.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.90 and a quick ratio of 0.85. The business’s 50-day moving average is $29.39 and its 200-day moving average is $28.12. Southwest Airlines Co. has a 1 year low of $21.91 and a 1 year high of $35.18.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, October 24th. The airline reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.10. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Southwest Airlines Co. will post 0.56 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Wednesday, September 4th. Southwest Airlines’s payout ratio is 114.29%.

Insiders Place Their Bets

In related news, Director Rakesh Gangwal acquired 643,788 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was purchased at an average cost of $29.98 per share, with a total value of $19,300,764.24. Following the acquisition, the director now owns 3,606,311 shares of the company’s stock, valued at approximately $108,117,203.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Southwest Airlines 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.