KBC Group NV grew its position in Southwest Airlines Company (NYSE:LUV) by 7.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,703 shares of the airline’s stock after acquiring an additional 14,013 shares during the period. KBC Group NV’s holdings in Southwest Airlines were worth $11,459,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Southwest Airlines by 13.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock worth $549,016,000 after purchasing an additional 1,026,892 shares during the last quarter. Boston Partners raised its position in shares of Southwest Airlines by 101.7% during the 3rd quarter. Boston Partners now owns 4,980,739 shares of the airline’s stock worth $278,822,000 after purchasing an additional 2,511,258 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Southwest Airlines by 16.8% during the 3rd quarter. APG Asset Management N.V. now owns 4,592,536 shares of the airline’s stock worth $257,090,000 after purchasing an additional 660,500 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of Southwest Airlines by 35.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,150,288 shares of the airline’s stock worth $257,901,000 after purchasing an additional 1,090,189 shares during the last quarter. Finally, Rockefeller Financial Services Inc. raised its position in shares of Southwest Airlines by 4.0% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 3,193,405 shares of the airline’s stock worth $178,766,000 after purchasing an additional 121,447 shares during the last quarter. Institutional investors and hedge funds own 78.87% of the company’s stock.
Southwest Airlines Company (NYSE LUV) traded down $0.75 during trading on Monday, hitting $59.92. 6,185,500 shares of the stock traded hands, compared to its average volume of 5,232,941. Southwest Airlines Company has a twelve month low of $47.04 and a twelve month high of $64.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 0.61. The stock has a market cap of $35,555.78, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 7th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.83%. Southwest Airlines’s dividend payout ratio (DPR) is 14.37%.
Several research firms recently weighed in on LUV. Vetr downgraded shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $59.16 price target for the company. in a research report on Wednesday, October 4th. Morgan Stanley set a $64.00 price objective on shares of Southwest Airlines and gave the company a “buy” rating in a research note on Thursday, August 17th. Cowen reaffirmed an “outperform” rating and set a $64.00 price objective (up previously from $62.00) on shares of Southwest Airlines in a research note on Friday, October 27th. Deutsche Bank reaffirmed a “buy” rating and set a $71.00 price objective on shares of Southwest Airlines in a research note on Friday, October 27th. Finally, Macquarie started coverage on shares of Southwest Airlines in a research note on Monday, September 25th. They set an “outperform” rating and a $62.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $66.89.
In related news, Director John T. Montford sold 935 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total transaction of $50,433.90. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.
About Southwest Airlines
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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