Amalgamated Bank Has $3.98 Million Stake in Southwest Airlines Co. (NYSE:LUV)

Amalgamated Bank grew its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,507 shares of the airline’s stock after purchasing an additional 897 shares during the period. Amalgamated Bank’s holdings in Southwest Airlines were worth $3,984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Kestra Investment Management LLC bought a new stake in shares of Southwest Airlines in the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its position 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 acquiring an additional 575 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Southwest Airlines during the 3rd quarter worth $33,000. TD Private Client Wealth LLC increased its position in shares of Southwest Airlines by 41.1% in the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock worth $35,000 after purchasing an additional 345 shares during the period. Finally, New England Capital Financial Advisors LLC raised its stake in Southwest Airlines by 35.3% in the third quarter. New England Capital Financial Advisors LLC now owns 1,923 shares of the airline’s stock valued at $57,000 after purchasing an additional 502 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

Insider Activity at Southwest Airlines

In other news, insider Linda B. Rutherford sold 3,849 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $34.40, for a total value of $132,405.60. Following the transaction, the insider now owns 89,376 shares in the company, valued at approximately $3,074,534.40. The trade was a 4.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LUV has been the topic of a number of analyst reports. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Tuesday, February 11th. Citigroup reiterated a “sell” rating and set a $29.50 price target (down previously from $31.50) on shares of Southwest Airlines in a research report on Thursday, January 16th. Morgan Stanley restated an “overweight” rating and set a $42.00 price objective on shares of Southwest Airlines in a research report on Wednesday, December 11th. TD Cowen raised their target price on Southwest Airlines from $25.00 to $28.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Sanford C. Bernstein boosted their price target on Southwest Airlines from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, December 11th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.78.

Southwest Airlines Stock Up 1.4 %

NYSE:LUV opened at $31.07 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.85. Southwest Airlines Co. has a one year low of $23.58 and a one year high of $36.12. The firm’s 50 day simple moving average is $31.89 and its 200 day simple moving average is $30.98. The company has a market cap of $18.41 billion, a PE ratio of 43.15, a P/E/G ratio of 0.97 and a beta of 1.14.

Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, January 30th. The airline reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. On average, research analysts anticipate that Southwest Airlines Co. will post 1.55 earnings per share for the current year.

Southwest Airlines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, March 12th. Southwest Airlines’s dividend payout ratio is currently 100.00%.

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.