Westpac Banking Corp decreased its position in shares of Southwest Airlines Co (NYSE:LUV) by 38.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 167,991 shares of the airline’s stock after selling 105,768 shares during the quarter. Westpac Banking Corp’s holdings in Southwest Airlines were worth $8,720,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LUV. Oregon Public Employees Retirement Fund raised its holdings in Southwest Airlines by 3,711.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,546,074 shares of the airline’s stock worth $162,000 after purchasing an additional 7,348,070 shares during the last quarter. BlackRock Inc. raised its holdings in Southwest Airlines by 8.5% during the 4th quarter. BlackRock Inc. now owns 28,978,210 shares of the airline’s stock worth $1,346,907,000 after purchasing an additional 2,282,027 shares during the last quarter. Norges Bank bought a new position in Southwest Airlines during the 4th quarter worth approximately $105,239,000. Millennium Management LLC raised its holdings in Southwest Airlines by 88.1% during the 4th quarter. Millennium Management LLC now owns 4,592,257 shares of the airline’s stock worth $213,448,000 after purchasing an additional 2,151,057 shares during the last quarter. Finally, AJO LP raised its holdings in Southwest Airlines by 9,537.6% during the 1st quarter. AJO LP now owns 1,518,979 shares of the airline’s stock worth $78,850,000 after purchasing an additional 1,503,218 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Several research analysts have issued reports on LUV shares. Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Barclays lowered their price target on shares of Southwest Airlines from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. ValuEngine upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Raymond James lowered shares of Southwest Airlines from an “outperform” rating to a “market perform” rating and set a $53.25 price target for the company. in a report on Monday, April 8th. Finally, Imperial Capital reiterated an “in-line” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Southwest Airlines in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $58.15.

Shares of NYSE:LUV traded down $0.78 during mid-day trading on Friday, hitting $51.60. The company had a trading volume of 1,113,265 shares, compared to its average volume of 3,320,718. The firm has a market capitalization of $27.59 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.16 and a beta of 1.51. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. Southwest Airlines Co has a one year low of $44.28 and a one year high of $64.02.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, April 25th. The airline reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.14 billion. Southwest Airlines had a net margin of 10.78% and a return on equity of 23.94%. Southwest Airlines’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. On average, analysts anticipate that Southwest Airlines Co will post 4.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from Southwest Airlines’s previous quarterly dividend of $0.16. Southwest Airlines’s payout ratio is 16.98%.

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About Southwest Airlines

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

See Also: What are Institutional Investors?

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

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