Voya Investment Management LLC Has $3.57 Million Position in Southwest Airlines Co. $LUV

Voya Investment Management LLC cut its holdings in Southwest Airlines Co. (NYSE:LUV) by 35.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,710 shares of the airline’s stock after selling 60,995 shares during the period. Voya Investment Management LLC’s holdings in Southwest Airlines were worth $3,565,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LUV. Elevation Point Wealth Partners LLC acquired a new stake in Southwest Airlines in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Southwest Airlines in the second quarter valued at approximately $31,000. Hantz Financial Services Inc. boosted its position in shares of Southwest Airlines by 81.4% in the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the airline’s stock valued at $34,000 after acquiring an additional 474 shares during the period. Armstrong Advisory Group Inc. bought a new position in Southwest Airlines during the second quarter worth $42,000. Finally, TD Private Client Wealth LLC increased its position in Southwest Airlines by 67.8% during the second quarter. TD Private Client Wealth LLC now owns 1,448 shares of the airline’s stock worth $47,000 after acquiring an additional 585 shares during the period. Institutional investors own 80.82% of the company’s stock.

Southwest Airlines Stock Down 0.4%

Shares of LUV opened at $41.30 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $35.32 and a two-hundred day moving average price of $33.55. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 63.53, a P/E/G ratio of 0.85 and a beta of 1.17. Southwest Airlines Co. has a 12 month low of $23.82 and a 12 month high of $43.54.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Tuesday, February 6th. The airline reported ($0.38) earnings per share for the quarter. The company had revenue of $6.17 billion during the quarter. Southwest Airlines had a net margin of 1.38% and a return on equity of 6.39%. Equities analysts predict that Southwest Airlines Co. will post 1.55 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, December 26th. Southwest Airlines’s dividend payout ratio is currently 110.77%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LUV shares. TD Cowen increased their price target on shares of Southwest Airlines from $31.00 to $42.00 and gave the company a “hold” rating in a report on Friday, December 12th. Jefferies Financial Group increased their target price on shares of Southwest Airlines from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, December 2nd. Sanford C. Bernstein lifted their target price on Southwest Airlines from $31.00 to $34.00 and gave the stock a “market perform” rating in a research report on Thursday, November 20th. Raymond James Financial boosted their price target on Southwest Airlines from $42.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. Finally, Wells Fargo & Company started coverage on Southwest Airlines in a research report on Thursday, December 18th. They issued an “equal weight” rating and a $45.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Southwest Airlines has a consensus rating of “Hold” and an average price target of $39.44.

About Southwest Airlines

Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.

Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.