Essex Investment Management Co. LLC trimmed its holdings in shares of Southwest Airlines Company (NYSE:LUV) by 18.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,088 shares of the airline’s stock after selling 8,609 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Southwest Airlines were worth $2,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in shares of Southwest Airlines by 1.5% during the 1st quarter. State Street Corp now owns 23,480,558 shares of the airline’s stock valued at $1,262,308,000 after buying an additional 353,960 shares in the last quarter. Ameriprise Financial Inc. raised its position in Southwest Airlines by 13.1% in 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 period. APG Asset Management N.V. raised its position in Southwest Airlines by 16.8% in 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 period. Thrivent Financial For Lutherans raised its position in Southwest Airlines by 35.6% in 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 period. Finally, Rockefeller Financial Services Inc. raised its position in Southwest Airlines by 4.0% in 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 period. Hedge funds and other institutional investors own 79.55% of the company’s stock.

LUV has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Vetr raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 price objective on the stock in a research report on Tuesday, July 18th. Cowen and Company reissued a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a research report on Friday, July 28th. Morgan Stanley set a $64.00 price objective on shares of Southwest Airlines and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $64.00 price objective (down from $65.00) on shares of Southwest Airlines in a research report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $67.19.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS.

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In other Southwest Airlines news, Director William H. Dr Cunningham bought 4,500 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the purchase, the director now directly owns 66,969 shares in the company, valued at $3,616,326. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.

Southwest Airlines Company Profile

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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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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