Asset Management One Co. Ltd. Has $1.87 Million Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Asset Management One Co. Ltd. grew its position in shares of Southwest Airlines Co. (NYSE:LUV) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,119 shares of the airline’s stock after purchasing an additional 2,508 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Southwest Airlines were worth $1,870,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Axiom Advisory LLC lifted its stake in shares of Southwest Airlines by 2.1% in the third quarter. Axiom Advisory LLC now owns 18,306 shares of the airline’s stock worth $507,000 after acquiring an additional 375 shares during the period. GPS Wealth Strategies Group LLC lifted its stake in shares of Southwest Airlines by 35.4% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,487 shares of the airline’s stock worth $43,000 after acquiring an additional 389 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Southwest Airlines by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 51,395 shares of the airline’s stock worth $1,470,000 after acquiring an additional 416 shares during the period. Versant Capital Management Inc lifted its stake in shares of Southwest Airlines by 42.6% in the second quarter. Versant Capital Management Inc now owns 1,412 shares of the airline’s stock worth $40,000 after acquiring an additional 422 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Southwest Airlines by 1.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,373 shares of the airline’s stock worth $959,000 after acquiring an additional 475 shares during the period. 80.82% of the stock is owned by institutional investors and hedge funds.

Southwest Airlines Stock Up 1.7 %

Shares of NYSE:LUV opened at $31.78 on Friday. The company has a market capitalization of $19.06 billion, a PE ratio of -454.00, a price-to-earnings-growth ratio of 7.80 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.88 and a quick ratio of 0.83. The business has a fifty day moving average price of $30.00 and a two-hundred day moving average price of $28.28. Southwest Airlines Co. has a 1 year low of $22.58 and a 1 year high of $35.18.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, October 24th. The airline reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.10. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.77 billion. Southwest Airlines had a positive return on equity of 4.56% and a negative net margin of 0.06%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. Analysts forecast that Southwest Airlines Co. will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other Southwest Airlines news, major shareholder Elliott Investment Management sold 1,203,920 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $29.83, for a total value of $35,912,933.60. Following the transaction, the insider now directly owns 59,912,580 shares in the company, valued at $1,787,192,261.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Rakesh Gangwal acquired 643,788 shares of Southwest Airlines stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $29.98 per share, for a total transaction of $19,300,764.24. Following the transaction, the director now owns 3,606,311 shares of the company’s stock, valued at $108,117,203.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $29.83, for a total value of $35,912,933.60. Following the transaction, the insider now owns 59,912,580 shares in the company, valued at $1,787,192,261.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Sanford C. Bernstein cut 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. BNP Paribas raised Southwest Airlines to a “strong sell” rating in a research note on Thursday, September 19th. Evercore ISI raised Southwest Airlines from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $35.00 in a research note on Tuesday, September 3rd. Citigroup boosted their price target on Southwest Airlines from $28.25 to $31.50 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, StockNews.com raised Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.31.

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.