Southwest Airlines Co. (NYSE:LUV) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. raised its position in Southwest Airlines Co. (NYSE:LUV) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,978,869 shares of the airline’s stock after purchasing an additional 2,896,150 shares during the quarter. Franklin Resources Inc. owned approximately 5.50% of Southwest Airlines worth $1,108,750,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in Southwest Airlines in the fourth quarter worth approximately $26,000. Raleigh Capital Management Inc. boosted its holdings in Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock worth $30,000 after purchasing an additional 575 shares in the last quarter. Sanctuary Wealth Management L.L.C. increased its position in Southwest Airlines by 196.3% during the fourth quarter. Sanctuary Wealth Management L.L.C. now owns 889 shares of the airline’s stock worth $30,000 after buying an additional 589 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Southwest Airlines by 41.1% during the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after buying an additional 345 shares in the last quarter. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Southwest Airlines in the fourth quarter worth about $42,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.

Southwest Airlines Stock Down 1.0 %

Shares of NYSE LUV opened at $33.58 on Monday. The firm has a 50 day moving average price of $31.33 and a 200 day moving average price of $31.56. The stock has a market cap of $19.90 billion, a P/E ratio of 46.63, a P/E/G ratio of 0.97 and a beta of 1.10. Southwest Airlines Co. has a 52-week low of $23.58 and a 52-week high of $36.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.92.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, January 30th. The airline reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. Southwest Airlines had a return on equity of 5.77% and a net margin of 1.69%. Analysts expect that Southwest Airlines Co. will post 1.55 EPS for the current year.

Southwest Airlines Announces Dividend

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 given a $0.18 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.72 annualized dividend and a yield of 2.14%. Southwest Airlines’s dividend payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Melius raised Southwest Airlines from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Barclays lifted their target price on shares of Southwest Airlines from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price objective on Southwest Airlines from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 18th. Finally, Raymond James lifted their price target on Southwest Airlines from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.54.

Insider Buying and Selling

In other news, Director C. David Cush bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $30.03 per share, with a total value of $150,150.00. Following the transaction, the director now owns 19,011 shares in the company, valued at $570,900.33. This represents a 35.69 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Southwest Airlines 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.