Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Southwest Airlines Co (NYSE:LUV) by 9.7% during the first quarter, Holdings Channel reports. The institutional investor owned 12,659 shares of the airline’s stock after purchasing an additional 1,122 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Southwest Airlines were worth $657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LUV. Paragon Capital Management LLC purchased a new stake in Southwest Airlines in the first quarter valued at $26,000. Shine Investment Advisory Services Inc. raised its holdings in shares of Southwest Airlines by 208.0% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 616 shares of the airline’s stock valued at $32,000 after buying an additional 416 shares during the period. Destination Wealth Management raised its holdings in shares of Southwest Airlines by 107.9% in the 1st quarter. Destination Wealth Management now owns 634 shares of the airline’s stock valued at $33,000 after buying an additional 329 shares during the period. Field & Main Bank purchased a new stake in shares of Southwest Airlines in the 1st quarter valued at $35,000. Finally, Somerset Trust Co raised its holdings in shares of Southwest Airlines by 185.5% in the 1st quarter. Somerset Trust Co now owns 688 shares of the airline’s stock valued at $36,000 after buying an additional 447 shares during the period. 79.49% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on LUV. Macquarie set a $52.00 price objective on Southwest Airlines and gave the company a “hold” rating in a report on Thursday, March 28th. Argus restated a “buy” rating on shares of Southwest Airlines in a report on Wednesday, May 1st. Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. Morgan Stanley cut their price target on Southwest Airlines from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Imperial Capital restated an “in-line” rating and set a $52.00 price target (down previously from $55.00) on shares of Southwest Airlines in a report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $58.64.

Shares of NYSE LUV traded up $0.07 during trading hours on Friday, reaching $51.03. The stock had a trading volume of 42,845 shares, compared to its average volume of 3,369,423. The stock has a market cap of $28.98 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.49. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. Southwest Airlines Co has a fifty-two week low of $44.28 and a fifty-two week high of $64.02.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, April 25th. The airline reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Southwest Airlines had a return on equity of 23.94% and a net margin of 10.78%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Sell-side analysts anticipate that Southwest Airlines Co will post 4.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be given a $0.18 dividend. The ex-dividend date is Tuesday, June 4th. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.41%. Southwest Airlines’s dividend payout ratio is 15.09%.

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About Southwest Airlines

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 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.

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

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