Parallel Advisors LLC Lowers Stock Position in Southwest Airlines Co. (NYSE:LUV)

Parallel Advisors LLC lessened its stake in shares of Southwest Airlines Co. (NYSE:LUV – Free Report) by 20.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,071 shares of the airline’s stock after selling 4,674 shares during the period. Parallel Advisors LLC’s holdings in Southwest Airlines were worth $588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in shares of Southwest Airlines during the fourth quarter worth approximately $32,000. Samalin Investment Counsel LLC grew its stake in shares of Southwest Airlines by 247.5% in the first quarter. Samalin Investment Counsel LLC now owns 702 shares of the airline’s stock worth $32,000 after acquiring an additional 500 shares during the period. First Community Trust NA bought a new stake in Southwest Airlines during the fourth quarter valued at approximately $34,000. New England Capital Financial Advisors LLC purchased a new position in shares of Southwest Airlines in the fourth quarter worth $38,000. Finally, True Wealth Design LLC purchased a new stake in Southwest Airlines during the fourth quarter valued at $38,000. Institutional investors own 75.81% of the company’s stock.

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Southwest Airlines Price Performance

Shares of NYSE LUV opened at $37.04 on Friday. Southwest Airlines Co. has a twelve month low of $28.40 and a twelve month high of $41.76. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 0.46 and a beta of 1.19. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.78. The business has a 50 day simple moving average of $32.46 and a 200-day simple moving average of $33.08.

Southwest Airlines (NYSE:LUV – Get Free Report) last released its quarterly earnings data on Thursday, April 27th. The airline reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). Southwest Airlines had a net margin of 2.65% and a return on equity of 6.99%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the firm earned ($0.32) EPS. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, equities research analysts expect that Southwest Airlines Co. will post 2.62 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Wednesday, June 21st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, June 20th. This represents a $0.72 dividend on an annualized basis and a yield of 1.94%. Southwest Airlines’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Ratings Changes

A number of analysts recently weighed in on LUV shares. JPMorgan Chase & Co. lowered shares of Southwest Airlines from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $64.00 to $39.00 in a research note on Monday, May 8th. Barclays lifted their price target on Southwest Airlines from $38.00 to $40.00 in a report on Thursday. Bank of America lifted their price target on Southwest Airlines from $39.00 to $45.00 in a report on Monday, June 26th. StockNews.com initiated coverage on Southwest Airlines in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Jefferies Financial Group lifted their target price on Southwest Airlines from $32.00 to $40.00 in a research report on Tuesday. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.53.

Insider Transactions at Southwest Airlines

In other news, EVP Ryan C. Green sold 4,936 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $29.94, for a total transaction of $147,783.84. Following the completion of the sale, the executive vice president now owns 26,361 shares in the company, valued at approximately $789,248.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Southwest Airlines Profile

(Free Report)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2022, the company operated a total fleet of 770 Boeing 737 aircrafts; 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.

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