Empower Advisory Group LLC Trims Position in Southwest Airlines Co. (NYSE:LUV)

Empower Advisory Group LLC cut its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,488 shares of the airline’s stock after selling 2,192 shares during the quarter. Empower Advisory Group LLC’s holdings in Southwest Airlines were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Raleigh Capital Management Inc. increased its holdings in shares of Southwest Airlines by 186.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after purchasing an additional 575 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Southwest Airlines during the 3rd quarter valued at approximately $33,000. TD Private Client Wealth LLC increased its holdings in shares of Southwest Airlines by 41.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after purchasing an additional 345 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Southwest Airlines by 34.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,770 shares of the airline’s stock valued at $60,000 after purchasing an additional 450 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Southwest Airlines during the 4th quarter valued at approximately $64,000. 80.82% of the stock is owned by hedge funds and other institutional investors.

Southwest Airlines Stock Down 0.9 %

Shares of NYSE:LUV opened at $30.00 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.85. The firm has a market capitalization of $17.99 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.14. The firm’s 50-day moving average is $32.37 and its two-hundred day moving average is $30.71. Southwest Airlines Co. has a 1 year low of $23.58 and a 1 year high of $36.12.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. Analysts predict that Southwest Airlines Co. will post 1.59 EPS for the current year.

Southwest Airlines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

LUV has been the subject of several recent research reports. Raymond James lifted their target price on shares of Southwest Airlines from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 30th. Susquehanna cut their target price on shares of Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. TD Cowen lifted their price target on shares of Southwest Airlines from $25.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Citigroup reissued a “sell” rating and issued a $29.50 price target (down previously from $31.50) on shares of Southwest Airlines in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $28.00 price target on shares of Southwest Airlines in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Southwest Airlines currently has an average rating of “Hold” and a consensus price target of $31.78.

Insider Transactions at Southwest Airlines

In other news, insider Linda B. Rutherford sold 3,849 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $34.40, for a total transaction of $132,405.60. Following the completion of the transaction, the insider now directly owns 89,376 shares of the company’s stock, valued at approximately $3,074,534.40. The trade was a 4.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Southwest Airlines Company 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.