Southwest Airlines Co (LUV) Shares Bought by Westpac Banking Corp

Westpac Banking Corp increased its position in Southwest Airlines Co (NYSE:LUV) by 148.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 282,982 shares of the airline’s stock after purchasing an additional 169,084 shares during the quarter. Westpac Banking Corp’s holdings in Southwest Airlines were worth $18,521,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Boston Partners raised its holdings in shares of Southwest Airlines by 101.7% in the 3rd quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock valued at $278,822,000 after purchasing an additional 2,511,258 shares during the period. APG Asset Management N.V. raised its holdings in shares of Southwest Airlines by 16.8% in the 3rd quarter. APG Asset Management N.V. now owns 4,592,536 shares of the airline’s stock valued at $257,090,000 after purchasing an additional 660,500 shares during the period. Rockefeller Financial Services Inc. raised its holdings in shares of Southwest Airlines by 4.0% in the 3rd quarter. Rockefeller Financial Services Inc. now owns 3,193,405 shares of the airline’s stock valued at $178,766,000 after purchasing an additional 121,447 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Southwest Airlines by 11.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,037,020 shares of the airline’s stock valued at $133,323,000 after purchasing an additional 204,026 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Southwest Airlines by 171.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,821,985 shares of the airline’s stock valued at $101,994,000 after purchasing an additional 1,151,371 shares during the period. 78.58% of the stock is currently owned by institutional investors.

In other Southwest Airlines news, Director John T. Montford sold 935 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total transaction of $50,433.90. Following the transaction, the director now owns 25,000 shares in the company, valued at approximately $1,348,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert E. Jordan sold 32,931 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.38, for a total transaction of $2,120,097.78. Following the transaction, the executive vice president now owns 76,993 shares in the company, valued at approximately $4,956,809.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,561 shares of company stock worth $2,277,774. Company insiders own 0.21% of the company’s stock.

LUV has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 target price on shares of Southwest Airlines in a report on Wednesday, November 1st. Deutsche Bank reaffirmed a “buy” rating and issued a $71.00 target price on shares of Southwest Airlines in a report on Friday, October 27th. Vetr cut shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $59.16 target price on the stock. in a report on Friday, September 22nd. Cowen reissued a “buy” rating and issued a $67.00 price target on shares of Southwest Airlines in a report on Tuesday, January 9th. Finally, Zacks Investment Research raised shares of Southwest Airlines from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Southwest Airlines currently has an average rating of “Buy” and an average price target of $67.93.

Southwest Airlines Co (LUV) opened at $65.99 on Thursday. The firm has a market cap of $39,210.00, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 0.46. Southwest Airlines Co has a fifty-two week low of $48.71 and a fifty-two week high of $66.99.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the firm earned $0.93 EPS. The business’s revenue was up 2.6% on a year-over-year basis. equities research analysts anticipate that Southwest Airlines Co will post 3.5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, December 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.76%. Southwest Airlines’s payout ratio is presently 14.33%.

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

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