Triton Wealth Management PLLC Purchases Shares of 8,916 Southwest Airlines Co. $LUV

Triton Wealth Management PLLC acquired a new position in Southwest Airlines Co. (NYSE:LUV) during the second quarter, HoldingsChannel reports. The institutional investor acquired 8,916 shares of the airline’s stock, valued at approximately $297,000.

Several other hedge funds have also recently made changes to their positions in LUV. Pandora Wealth Inc. purchased a new stake in Southwest Airlines in the first quarter worth $34,000. Cheviot Value Management LLC bought a new position in Southwest Airlines in the 1st quarter worth $42,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Southwest Airlines in the 2nd quarter worth about $42,000. TD Private Client Wealth LLC lifted its position in shares of Southwest Airlines by 67.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,448 shares of the airline’s stock worth $47,000 after purchasing an additional 585 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Southwest Airlines by 122.3% during the 1st quarter. Brooklyn Investment Group now owns 1,787 shares of the airline’s stock valued at $60,000 after purchasing an additional 983 shares in the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LUV. Hsbc Global Res raised shares of Southwest Airlines to a “moderate sell” rating in a research note on Thursday, July 24th. Susquehanna upped their target price on Southwest Airlines from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. TD Cowen increased their target price on Southwest Airlines from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Southwest Airlines in a research note on Wednesday, October 8th. Finally, HSBC lowered Southwest Airlines from a “hold” rating to a “reduce” rating in a research report on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.38.

Southwest Airlines Stock Up 4.7%

LUV stock opened at $33.39 on Wednesday. The business has a 50 day moving average of $31.86 and a 200 day moving average of $31.42. The firm has a market cap of $17.54 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. Southwest Airlines Co. has a twelve month low of $23.82 and a twelve month high of $37.96. The company has a quick ratio of 0.49, a current ratio of 0.56 and a debt-to-equity ratio of 0.51.

Southwest Airlines (NYSE:LUV) last released its earnings results on Tuesday, February 6th. The airline reported ($0.38) EPS for the quarter. Southwest Airlines had a return on equity of 6.27% and a net margin of 1.43%.The company had revenue of $6.17 billion during the quarter. On average, research analysts forecast that Southwest Airlines Co. will post 1.55 EPS for the current fiscal year.

Southwest Airlines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 3rd. Southwest Airlines’s dividend payout ratio is 109.09%.

Southwest Airlines declared that its board has authorized a stock buyback program on Wednesday, July 23rd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the airline to buy up to 9.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Southwest Airlines

In other news, Director Sarah Feinberg bought 1,500 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $30.01 per share, for a total transaction of $45,015.00. Following the completion of the purchase, the director owned 14,229 shares in the company, valued at approximately $427,012.29. This represents a 11.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregg A. Saretsky purchased 3,345 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $30.03 per share, for a total transaction of $100,450.35. Following the acquisition, the director owned 23,644 shares of the company’s stock, valued at approximately $710,029.32. The trade was a 16.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.79% of the stock is currently owned by company insiders.

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.