Southwest Airlines Co. (NYSE:LUV) Position Lessened by Glassman Wealth Services

Glassman Wealth Services reduced its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 43.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,246 shares of the airline’s stock after selling 946 shares during the quarter. Glassman Wealth Services’ holdings in Southwest Airlines were worth $36,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its holdings in shares of Southwest Airlines by 20.3% in the 4th quarter. Advisory Services Network LLC now owns 11,949 shares of the airline’s stock worth $345,000 after acquiring an additional 2,016 shares during the period. Weil Company Inc. bought a new position in Southwest Airlines in the 4th quarter worth about $204,000. Commerce Bank raised its holdings in shares of Southwest Airlines by 65.6% during the fourth quarter. Commerce Bank now owns 29,538 shares of the airline’s stock valued at $853,000 after buying an additional 11,699 shares during the last quarter. Franklin Resources Inc. increased its position in Southwest Airlines by 4.0% in the 4th quarter. Franklin Resources Inc. now owns 267,572 shares of the airline’s stock valued at $7,727,000 after acquiring an additional 10,280 shares during the period. Finally, Assetmark Inc. boosted its position in Southwest Airlines by 60.3% during the 4th quarter. Assetmark Inc. now owns 105,192 shares of the airline’s stock worth $3,038,000 after acquiring an additional 39,588 shares during the period. 80.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on Southwest Airlines from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft upgraded Southwest Airlines from a “hold” rating to a “buy” rating and upped their price objective for the company from $28.00 to $42.00 in a report on Tuesday, February 20th. Morgan Stanley lowered their target price on Southwest Airlines from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Finally, Argus raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Tuesday, March 12th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Southwest Airlines currently has a consensus rating of “Hold” and an average price target of $30.59.

Southwest Airlines Stock Up 2.9 %

Shares of NYSE LUV traded up $0.74 during mid-day trading on Thursday, reaching $26.41. The company had a trading volume of 14,616,669 shares, compared to its average volume of 9,041,400. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.09. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.36 and a beta of 1.16. The stock has a fifty day moving average of $29.87 and a two-hundred day moving average of $28.56. Southwest Airlines Co. has a 12-month low of $21.91 and a 12-month high of $39.53.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings results on Thursday, April 25th. The airline reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The firm had revenue of $6.33 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Southwest Airlines had a return on equity of 8.91% and a net margin of 1.59%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business earned ($0.27) earnings per share. As a group, equities research analysts expect that Southwest Airlines Co. will post 1.07 EPS for the current year.

About Southwest Airlines

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.