Southwest Airlines Co. (NYSE:LUV) dropped 1.6% on Wednesday . The stock traded as low as $41.94 and last traded at $42.03, with a volume of 8,219,007 shares trading hands. The stock had previously closed at $42.72.

LUV has been the subject of several recent analyst reports. Credit Suisse Group AG lowered their target price on shares of Southwest Airlines from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, April 12th. Vetr upgraded shares of Southwest Airlines from a “buy” rating to a “strong-buy” rating and set a $53.32 target price for the company in a research note on Wednesday, April 13th. Stephens initiated coverage on shares of Southwest Airlines in a research note on Tuesday, March 29th. They issued an “overweight” rating and a $60.00 target price for the company. Deutsche Bank AG restated a “buy” rating and issued a $57.00 target price on shares of Southwest Airlines in a research note on Saturday, June 25th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating on shares of Southwest Airlines in a research note on Tuesday, April 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $52.92.

The firm’s 50-day moving average price is $40.97 and its 200-day moving average price is $41.74. The stock has a market capitalization of $26.84 billion and a P/E ratio of 12.38.

Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.41 billion. Equities analysts expect that Southwest Airlines Co. will post $4.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 29th. Shareholders of record on Wednesday, June 8th were given a $0.10 dividend. This is a positive change from Southwest Airlines’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Monday, June 6th.

In other Southwest Airlines news, EVP Jeff Lamb sold 18,765 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $41.79, for a total value of $784,189.35. Following the sale, the executive vice president now directly owns 150,487 shares of the company’s stock, valued at approximately $6,288,851.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John T. Montford sold 1,210 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $43.31, for a total transaction of $52,405.10. Following the completion of the sale, the director now directly owns 27,155 shares in the company, valued at $1,176,083.05. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently modified their holdings of LUV. KBC Group NV boosted its position in shares of Southwest Airlines by 8.3% in the fourth quarter. KBC Group NV now owns 282,545 shares of the airline’s stock valued at $12,167,000 after buying an additional 21,720 shares during the last quarter. State of Tennessee Treasury Department boosted its position in shares of Southwest Airlines by 87.1% in the fourth quarter. State of Tennessee Treasury Department now owns 1,240,247 shares of the airline’s stock valued at $53,405,000 after buying an additional 577,482 shares during the last quarter. Gluskin Sheff & Assoc Inc. bought a new position in shares of Southwest Airlines during the fourth quarter valued at about $1,615,000. Redwood Investments LLC boosted its position in shares of Southwest Airlines by 172.5% in the fourth quarter. Redwood Investments LLC now owns 118,498 shares of the airline’s stock valued at $5,103,000 after buying an additional 75,007 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Southwest Airlines by 87.7% in the fourth quarter. Trexquant Investment LP now owns 51,800 shares of the airline’s stock valued at $2,231,000 after buying an additional 24,200 shares during the last quarter.

Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.

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