California State Teachers Retirement System reduced its stake in shares of Southwest Airlines Company (NYSE:LUV) by 9.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 909,848 shares of the airline’s stock after selling 93,413 shares during the period. California State Teachers Retirement System owned about 0.15% of Southwest Airlines worth $50,933,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BT Investment Management Ltd boosted its stake in shares of Southwest Airlines by 43.1% in the 3rd quarter. BT Investment Management Ltd now owns 408,284 shares of the airline’s stock worth $22,857,000 after buying an additional 122,892 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Southwest Airlines by 7.7% in the 2nd quarter. Macquarie Group Ltd. now owns 216,819 shares of the airline’s stock worth $13,472,000 after buying an additional 15,575 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Southwest Airlines by 2.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,121 shares of the airline’s stock worth $28,965,000 after buying an additional 10,851 shares during the last quarter. Columbus Circle Investors boosted its stake in shares of Southwest Airlines by 28.2% in the 2nd quarter. Columbus Circle Investors now owns 220,903 shares of the airline’s stock worth $13,727,000 after buying an additional 48,632 shares during the last quarter. Finally, Marshall Wace North America L.P. boosted its stake in shares of Southwest Airlines by 912.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 49,855 shares of the airline’s stock worth $3,091,000 after buying an additional 44,932 shares during the last quarter. 78.87% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on the company. J P Morgan Chase & Co upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $66.00 in a research note on Friday, September 15th. Cowen reiterated a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a research note on Friday, September 1st. Citigroup reiterated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of Southwest Airlines in a research note on Thursday, September 7th. Raymond James Financial upgraded Southwest Airlines from a “market perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Wednesday, September 20th. Finally, Atlantic Securities upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $48.71 to $71.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $66.89.

In other Southwest Airlines news, Director John T. Montford sold 935 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $53.94, for a total transaction of $50,433.90. Following the sale, the director now owns 25,000 shares in the company, valued at $1,348,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John T. Montford sold 1,695 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $63.27, for a total value of $107,242.65. Following the sale, the director now owns 23,098 shares in the company, valued at approximately $1,461,410.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,662 shares of company stock worth $159,563. Company insiders own 0.21% of the company’s stock.

Southwest Airlines Company (NYSE LUV) traded up $0.15 during trading hours on Friday, hitting $64.00. The company’s stock had a trading volume of 1,054,167 shares, compared to its average volume of 5,217,865. The stock has a market capitalization of $37,466.49, a P/E ratio of 18.20, a P/E/G ratio of 2.09 and a beta of 1.34. Southwest Airlines Company has a 12-month low of $48.71 and a 12-month high of $64.70. The company has a current ratio of 0.61, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46.

Southwest Airlines (NYSE:LUV) last posted its earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.29 billion. Southwest Airlines had a return on equity of 24.85% and a net margin of 10.12%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 earnings per share. equities analysts forecast that Southwest Airlines Company will post 3.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.78%. Southwest Airlines’s dividend payout ratio is currently 14.37%.

ILLEGAL ACTIVITY NOTICE: “California State Teachers Retirement System Sells 93,413 Shares of Southwest Airlines Company (LUV)” was published by Daily Political and is the property of of Daily Political. If you are viewing this story on another domain, it was stolen and republished in violation of United States and international copyright law. The original version of this story can be accessed at https://www.dailypolitical.com/2017/12/15/california-state-teachers-retirement-system-sells-93413-shares-of-southwest-airlines-company-luv.html.

Southwest Airlines Company Profile

Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.

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

Receive News & Ratings for Southwest Airlines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines and related companies with MarketBeat.com's FREE daily email newsletter.