Southwest Airlines Co. (NYSE:LUV) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 39.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,610 shares of the airline’s stock after selling 76,122 shares during the quarter. Amalgamated Bank’s holdings in Southwest Airlines were worth $3,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LUV. Capital World Investors boosted its stake in Southwest Airlines by 14.9% during the 1st quarter. Capital World Investors now owns 61,422,187 shares of the airline’s stock worth $1,792,914,000 after purchasing an additional 7,946,199 shares during the last quarter. Vanguard Group Inc. boosted its stake in Southwest Airlines by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 67,569,773 shares of the airline’s stock worth $1,972,362,000 after purchasing an additional 2,148,435 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Southwest Airlines during the 2nd quarter worth $48,551,000. Canada Pension Plan Investment Board boosted its stake in Southwest Airlines by 629.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,590,298 shares of the airline’s stock worth $45,498,000 after purchasing an additional 1,372,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Southwest Airlines by 21.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,828,166 shares of the airline’s stock worth $166,742,000 after purchasing an additional 1,034,496 shares during the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Southwest Airlines from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. TD Cowen upped their price objective on shares of Southwest Airlines from $19.00 to $25.00 and gave the company a “hold” rating in a report on Monday, September 30th. BNP Paribas raised shares of Southwest Airlines to a “strong sell” rating in a report on Thursday, September 19th. Evercore ISI raised shares of Southwest Airlines from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $35.00 in a report on Tuesday, September 3rd. Finally, Bank of America started coverage on shares of Southwest Airlines in a report on Monday, November 4th. They issued a “neutral” rating and a $33.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.31.

Insiders Place Their Bets

In other news, major shareholder Elliott Investment Management sold 1,203,920 shares of Southwest Airlines stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $29.83, for a total value of $35,912,933.60. Following the completion of the transaction, the insider now owns 59,912,580 shares in the company, valued at approximately $1,787,192,261.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Rakesh Gangwal acquired 643,788 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of $29.98 per share, with a total value of $19,300,764.24. Following the transaction, the director now owns 3,606,311 shares in the company, valued at approximately $108,117,203.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Elliott Investment Management sold 1,203,920 shares of Southwest Airlines stock in a transaction on Monday, October 28th. The stock was sold at an average price of $29.83, for a total transaction of $35,912,933.60. Following the sale, the insider now directly owns 59,912,580 shares of the company’s stock, valued at approximately $1,787,192,261.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Southwest Airlines Trading Up 1.7 %

Shares of LUV stock opened at $31.78 on Friday. Southwest Airlines Co. has a fifty-two week low of $22.58 and a fifty-two week high of $35.18. The company has a 50 day moving average price of $30.00 and a 200 day moving average price of $28.28. The stock has a market capitalization of $19.06 billion, a P/E ratio of -454.00, a price-to-earnings-growth ratio of 7.80 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.83 and a current ratio of 0.88.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, October 24th. The airline reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.10. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.77 billion. Southwest Airlines had a positive return on equity of 4.56% and a negative net margin of 0.06%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Equities research analysts predict that Southwest Airlines Co. will post 0.7 EPS for the current fiscal year.

Southwest Airlines Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; 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.