State of Michigan Retirement System trimmed its position in shares of Southwest Airlines Co (NYSE:LUV) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,584 shares of the airline’s stock after selling 1,700 shares during the period. State of Michigan Retirement System’s holdings in Southwest Airlines were worth $6,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sterling Investment Advisors Ltd. bought a new position in Southwest Airlines during the third quarter valued at $26,000. Smithfield Trust Co. grew its holdings in Southwest Airlines by 130.4% during the third quarter. Smithfield Trust Co. now owns 530 shares of the airline’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Hudock Capital Group LLC grew its holdings in Southwest Airlines by 596.4% during the third quarter. Hudock Capital Group LLC now owns 585 shares of the airline’s stock valued at $31,000 after purchasing an additional 501 shares during the period. Global Wealth Management Investment Advisory Inc. grew its holdings in Southwest Airlines by 242.8% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 713 shares of the airline’s stock valued at $36,000 after purchasing an additional 505 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in Southwest Airlines by 79.0% during the third quarter. Penserra Capital Management LLC now owns 691 shares of the airline’s stock valued at $36,000 after purchasing an additional 305 shares during the period. 82.81% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on LUV. Deutsche Bank lowered Southwest Airlines from a “buy” rating to a “hold” rating and reduced their price objective for the company from $62.00 to $58.00 in a report on Friday, January 17th. Citigroup began coverage on Southwest Airlines in a report on Thursday, October 31st. They set a “neutral” rating and a $59.00 price objective for the company. Sanford C. Bernstein lowered Southwest Airlines from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $58.00 to $61.00 in a report on Thursday, October 31st. UBS Group began coverage on Southwest Airlines in a report on Tuesday, November 12th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Stifel Nicolaus lowered Southwest Airlines from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $60.00 in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $58.18.

NYSE:LUV opened at $56.25 on Tuesday. The company has a market cap of $29.76 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.41 and a beta of 1.40. The stock’s fifty day moving average price is $54.63 and its two-hundred day moving average price is $54.12. Southwest Airlines Co has a 1 year low of $47.40 and a 1 year high of $58.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.67 and a quick ratio of 0.61.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, January 23rd. The airline reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.11). The company had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Southwest Airlines had a return on equity of 23.31% and a net margin of 10.26%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. On average, analysts expect that Southwest Airlines Co will post 4.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. Southwest Airlines’s dividend payout ratio is currently 16.86%.

Southwest Airlines Company Profile

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.

Further Reading: Neutral Rating

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

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