Norinchukin Bank The Has $3.53 Million Holdings in Southwest Airlines Co (LUV)
Norinchukin Bank The lowered its holdings in shares of Southwest Airlines Co (NYSE:LUV) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,901 shares of the airline’s stock after selling 16,051 shares during the quarter. Norinchukin Bank The’s holdings in Southwest Airlines were worth $3,528,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LUV. ARP Americas LP acquired a new stake in Southwest Airlines in the 4th quarter valued at approximately $1,826,000. American International Group Inc. raised its position in Southwest Airlines by 2.5% in the 4th quarter. American International Group Inc. now owns 204,506 shares of the airline’s stock valued at $13,385,000 after buying an additional 4,961 shares during the last quarter. Frontier Investment Mgmt Co. acquired a new stake in Southwest Airlines in the 4th quarter valued at approximately $2,658,000. Centaurus Financial Inc. bought a new position in Southwest Airlines in the fourth quarter valued at approximately $651,000. Finally, Trustcore Financial Services LLC bought a new position in Southwest Airlines in the fourth quarter valued at approximately $377,000. 80.05% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on LUV. Zacks Investment Research downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a research note on Tuesday. Vetr downgraded Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $63.03 price target for the company. in a research note on Tuesday, February 27th. JPMorgan Chase & Co. downgraded Southwest Airlines from an “overweight” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Tuesday, January 30th. Stifel Nicolaus restated a “buy” rating and issued a $85.00 price target (up from $80.00) on shares of Southwest Airlines in a research note on Wednesday, January 10th. Finally, Cowen restated a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $67.83.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, January 25th. The airline reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. Southwest Airlines had a return on equity of 23.43% and a net margin of 16.48%. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. research analysts anticipate that Southwest Airlines Co will post 4.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Tuesday, March 6th. This represents a $0.50 annualized dividend and a yield of 0.83%. Southwest Airlines’s payout ratio is currently 14.49%.
In other news, Director William H. Dr Cunningham purchased 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average cost of $56.25 per share, with a total value of $196,875.00. Following the acquisition, the director now owns 70,469 shares in the company, valued at approximately $3,963,881.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tammy Romo sold 20,272 shares of Southwest Airlines stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $57.95, for a total value of $1,174,762.40. Following the sale, the chief financial officer now directly owns 114,962 shares of the company’s stock, valued at $6,662,047.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,473 shares of company stock valued at $6,296,091. 0.21% of the stock is currently owned by insiders.
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About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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