Teacher Retirement System of Texas increased its stake in Southwest Airlines Co. (NYSE:LUV) by 195.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,358 shares of the airline’s stock after buying an additional 385,043 shares during the period. Teacher Retirement System of Texas owned about 0.09% of Southwest Airlines worth $22,648,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp raised its position in Southwest Airlines by 0.8% in the third quarter. M&T Bank Corp now owns 117,568 shares of the airline’s stock valued at $4,572,000 after buying an additional 983 shares during the period. Telos Capital Management Inc. raised its position in Southwest Airlines by 6.6% in the third quarter. Telos Capital Management Inc. now owns 33,566 shares of the airline’s stock valued at $1,305,000 after buying an additional 2,082 shares during the period. Bristol Gate Capital Partners Inc. raised its position in Southwest Airlines by 12.5% in the third quarter. Bristol Gate Capital Partners Inc. now owns 718,680 shares of the airline’s stock valued at $27,949,000 after buying an additional 80,035 shares during the period. Commerce Bank raised its position in Southwest Airlines by 1.3% in the third quarter. Commerce Bank now owns 24,272 shares of the airline’s stock valued at $944,000 after buying an additional 307 shares during the period. Finally, Northern Capital Management LLC bought a new position in Southwest Airlines during the third quarter valued at approximately $3,119,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Southwest Airlines Co. (NYSE:LUV) traded up 0.17% on Friday, reaching $47.45. The company’s stock had a trading volume of 2,482,600 shares. Southwest Airlines Co. has a 52 week low of $33.96 and a 52 week high of $51.34. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 13.49 and a beta of 0.86. The stock has a 50-day moving average of $42.11 and a 200 day moving average of $39.99.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.05. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The company earned $5.10 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter last year, the company earned $0.94 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts expect that Southwest Airlines Co. will post $3.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 8th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. Southwest Airlines’s dividend payout ratio is currently 11.40%.
Several equities analysts recently commented on the company. Vetr raised Southwest Airlines from a “sell” rating to a “hold” rating and set a $46.22 price target on the stock in a research report on Thursday. Zacks Investment Research raised Southwest Airlines from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Imperial Capital upped their target price on Southwest Airlines from $46.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup Inc. assumed coverage on Southwest Airlines in a research report on Friday, November 18th. They issued a “buy” rating and a $57.00 target price on the stock. Finally, JPMorgan Chase & Co. raised Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 target price on the stock in a research report on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $50.70.
Southwest Airlines Company Profile