Triton Wealth Management PLLC Sells 470 Shares of Southwest Airlines Co. (NYSE:LUV)

Triton Wealth Management PLLC lessened its stake in shares of Southwest Airlines Co. (NYSE:LUV) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,640 shares of the airline’s stock after selling 470 shares during the quarter. Triton Wealth Management PLLC’s holdings in Southwest Airlines were worth $319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LUV. Ashton Thomas Private Wealth LLC bought a new position in shares of Southwest Airlines in the 2nd quarter worth $29,000. CVA Family Office LLC raised its holdings in shares of Southwest Airlines by 179.5% in the 2nd quarter. CVA Family Office LLC now owns 1,034 shares of the airline’s stock worth $30,000 after acquiring an additional 664 shares during the last quarter. Pineridge Advisors LLC bought a new position in Southwest Airlines in the 4th quarter valued at about $32,000. Innealta Capital LLC acquired a new position in Southwest Airlines during the 2nd quarter valued at about $33,000. Finally, Mather Group LLC. bought a new stake in Southwest Airlines during the 1st quarter worth approximately $34,000. 80.82% of the stock is owned by institutional investors.

Insider Activity at Southwest Airlines

In other Southwest Airlines news, Director Rakesh Gangwal purchased 643,788 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were purchased at an average cost of $29.98 per share, with a total value of $19,300,764.24. Following the completion of the purchase, the director now owns 3,606,311 shares of the company’s stock, valued at $108,117,203.78. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by insiders.

Southwest Airlines Price Performance

NYSE:LUV traded up $0.74 during mid-day trading on Friday, hitting $31.25. 9,567,390 shares of the stock traded hands, compared to its average volume of 9,580,835. The business’s 50-day moving average price is $27.94 and its 200 day moving average price is $27.93. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 0.48. The company has a market cap of $18.70 billion, a PE ratio of 49.60, a price-to-earnings-growth ratio of 26.83 and a beta of 1.17. Southwest Airlines Co. has a 12-month low of $21.91 and a 12-month high of $35.18.

Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 25th. The airline reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.07. The company had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.32 billion. Southwest Airlines had a return on equity of 5.92% and a net margin of 0.41%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. On average, analysts expect that Southwest Airlines Co. will post 0.24 EPS for the current fiscal year.

Southwest Airlines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.72 annualized dividend and a dividend yield of 2.30%. Southwest Airlines’s dividend payout ratio (DPR) is presently 114.29%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LUV shares. Melius reaffirmed a “sell” rating and set a $26.00 target price on shares of Southwest Airlines in a research report on Monday, June 10th. Citigroup boosted their price target on shares of Southwest Airlines from $28.25 to $31.50 and gave the stock a “neutral” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $29.00 target price (down previously from $32.00) on shares of Southwest Airlines in a research note on Friday, July 26th. TD Cowen increased their price target on Southwest Airlines from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group upped their price objective on Southwest Airlines from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.21.

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.