M&T Bank Corp increased its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,568 shares of the airline’s stock after buying an additional 983 shares during the period. M&T Bank Corp’s holdings in Southwest Airlines were worth $4,572,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of LUV. Telos Capital Management Inc. increased its position in shares of 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 last quarter. Bristol Gate Capital Partners Inc. increased its position in shares of 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 last quarter. Commerce Bank increased its position in shares of 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 last quarter. Northern Capital Management LLC bought a new position in shares of Southwest Airlines during the third quarter valued at $3,119,000. Finally, Toronto Dominion Bank increased its position in shares of Southwest Airlines by 1,156.3% in the third quarter. Toronto Dominion Bank now owns 14,410 shares of the airline’s stock valued at $561,000 after buying an additional 13,263 shares during the last quarter. Hedge funds and other institutional investors own 75.66% of the company’s stock.
Southwest Airlines Co. (NYSE:LUV) traded up 0.08% on Monday, reaching $47.49. The company had a trading volume of 2,104,963 shares. The stock’s 50 day moving average is $42.43 and its 200-day moving average is $40.02. Southwest Airlines Co. has a 1-year low of $33.96 and a 1-year high of $51.34. The stock has a market capitalization of $29.23 billion, a P/E ratio of 13.50 and a beta of 0.86.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Wednesday, October 26th. The airline reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.17 billion. Southwest Airlines had a return on equity of 32.51% and a net margin of 11.09%. The company’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.94 earnings per share. On average, equities analysts predict that Southwest Airlines Co. will post $3.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 8th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Tuesday, December 6th. Southwest Airlines’s dividend payout ratio is presently 11.40%.
Several brokerages have recently weighed in on LUV. Vetr upgraded Southwest Airlines from a “sell” rating to a “hold” rating and set a $46.22 price target for the company in a report on Thursday. Zacks Investment Research upgraded Southwest Airlines from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Imperial Capital lifted their price objective on Southwest Airlines from $46.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, November 22nd. Citigroup Inc. began coverage on Southwest Airlines in a report on Friday, November 18th. They issued a “buy” rating and a $57.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and set a $51.50 price objective for the company in a report on Thursday, October 27th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $50.70.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.