Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of Southwest Airlines Co (NYSE:LUV) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 560,329 shares of the airline’s stock after selling 51,182 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.10% of Southwest Airlines worth $28,454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of LUV. Dimensional Fund Advisors LP boosted its holdings in shares of Southwest Airlines by 37.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,920,617 shares of the airline’s stock worth $228,736,000 after buying an additional 1,348,168 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Southwest Airlines by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 6,706,799 shares of the airline’s stock worth $311,306,000 after buying an additional 809,418 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of Southwest Airlines by 2.2% in the 1st quarter. DNB Asset Management AS now owns 20,266 shares of the airline’s stock worth $1,052,000 after buying an additional 436 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Southwest Airlines in the 1st quarter worth about $950,000. Finally, Virtu Financial LLC boosted its holdings in shares of Southwest Airlines by 13.7% in the 1st quarter. Virtu Financial LLC now owns 9,238 shares of the airline’s stock worth $480,000 after buying an additional 1,111 shares during the last quarter. 84.25% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. Imperial Capital reissued an “in-line” rating and issued a $55.00 price target (up from $52.00) on shares of Southwest Airlines in a report on Friday, April 26th. Barclays cut their price target on shares of Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Morgan Stanley dropped their price objective on shares of Southwest Airlines from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Argus downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Cowen reaffirmed a “market perform” rating and set a $57.00 price objective (up from $55.00) on shares of Southwest Airlines in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Southwest Airlines presently has an average rating of “Hold” and an average price target of $57.52.

NYSE LUV opened at $49.34 on Wednesday. The stock has a market capitalization of $27.12 billion, a P/E ratio of 11.64, a PEG ratio of 1.09 and a beta of 1.50. Southwest Airlines Co has a 52 week low of $44.28 and a 52 week high of $64.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.59 and a current ratio of 0.64. The firm’s 50-day simple moving average is $51.75.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 25th. The airline reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.02. Southwest Airlines had a return on equity of 24.12% and a net margin of 10.73%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Southwest Airlines Co will post 4.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, August 20th. Southwest Airlines’s dividend payout ratio is presently 16.98%.

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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