Huntington National Bank trimmed its stake in shares of Southwest Airlines Co. (NYSE: LUV – Get Rating) by 11.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,549 shares of the airline’s stock after selling 450 shares during the quarter. Huntington National Bank’s holdings in Southwest Airlines were worth $ 162,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC lifted its position in Southwest Airlines by 78.9% during the 1st quarter. Atticus Wealth Management LLC now owns 567 shares of the airline’s stock worth $ 26,000 after acquiring an additional 250 shares during the period. Archer Investment Corp acquired a new stake in shares of Southwest Airlines in the 4th quarter valued at approximately $ 25,000. Tcwp LLC acquired a new stake in shares of Southwest Airlines in the 1st quarter valued at approximately $ 27,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Southwest Airlines in the 4th quarter valued at approximately $ 26,000. Finally, Cornerstone Advisory LLC acquired a new stake in shares of Southwest Airlines in the 4th quarter valued at approximately $ 27,000. 76.74% of the stock is owned by institutional investors and hedge funds.
Southwest Airlines Stock Down 1.1%
NYSE: LUV opened at $ 37.47 on Tuesday. The firm has a market capitalization of $ 22.23 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.69 and a beta of 1.00. The stock has a 50 day moving average of $ 38.10 and a 200-day moving average of $ 42.08. Southwest Airlines Co. has a 52 week low of $ 34.36 and a 52 week high of $ 56.33. The company has a current ratio of 1.66, a quick ratio of 1.59 and a debt-to-equity ratio of 0.80.
Southwest Airlines (NYSE: LUV – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The airline reported $ 1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 0.91 by $ 0.39. The business had revenue of $ 6.73 billion during the quarter, compared to analyst estimates of $ 6.69 billion. Southwest Airlines had a return on equity of 5.54% and a net margin of 4.71%. The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($ 0.35) EPS. Analysts predict that Southwest Airlines Co. will post 2.34 EPS for the current year.
Analysts Set New Price Targets
LUV has been the subject of several recent analyst reports. Morgan Stanley reduced their price target on Southwest Airlines from $ 70.00 to $ 65.00 and set an “overweight” rating for the company in a report on Tuesday, August 2nd. Citigroup raised their price target on Southwest Airlines from $ 48.00 to $ 53.00 in a research report on Monday, May 2nd. Barclays lowered their price objective on Southwest Airlines from $ 58.00 to $ 50.00 and set an “overweight” rating for the company in a research report on Thursday, June 23rd. Cowen lowered their price target on Southwest Airlines from $ 67.00 to $ 55.00 in a research report on Friday, July 29th. Finally, Cowen reduced their price objective on Southwest Airlines from $ 67.00 to $ 55.00 in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $ 53.06.
In other Southwest Airlines news, Director John T. Montford sold 2,300 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $ 45.70, for a total transaction of $ 105,110.00. Following the transaction, the director now directly owns 23,296 shares of the company’s stock, valued at $ 1,064,627.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.
Southwest Airlines Profile
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, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 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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