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Truist Financial Corp Has $5.33 Million Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

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Truist Financial Corp trimmed its holdings in Southwest Airlines Co. (NYSE:LUV) by 4.8% during the third quarter, Holdings Channel reports. The firm owned 103,685 shares of the airline’s stock after selling 5,240 shares during the quarter. Truist Financial Corp’s holdings in Southwest Airlines were worth $5,333,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Qube Research & Technologies Ltd increased its position in Southwest Airlines by 947.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 433,541 shares of the airline’s stock valued at $23,017,000 after buying an additional 392,163 shares in the last quarter. UMB Bank N A MO increased its position in Southwest Airlines by 4.3% in the 3rd quarter. UMB Bank N A MO now owns 205,257 shares of the airline’s stock valued at $10,556,000 after buying an additional 8,459 shares in the last quarter. Windsor Creek Advisors LLC bought a new stake in Southwest Airlines in the 3rd quarter valued at about $1,815,000. Stanley Laman Group Ltd. increased its position in Southwest Airlines by 11.6% in the 3rd quarter. Stanley Laman Group Ltd. now owns 26,799 shares of the airline’s stock valued at $1,378,000 after buying an additional 2,775 shares in the last quarter. Finally, Beech Hill Advisors Inc. increased its position in Southwest Airlines by 10.0% in the 3rd quarter. Beech Hill Advisors Inc. now owns 54,518 shares of the airline’s stock valued at $2,804,000 after buying an additional 4,975 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

A number of analysts recently commented on LUV shares. Jefferies Financial Group lowered Southwest Airlines from a “buy” rating to a “hold” rating and decreased their target price for the company from $60.00 to $45.00 in a research report on Thursday, December 9th. Morgan Stanley decreased their price objective on Southwest Airlines from $71.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, December 9th. Zacks Investment Research upgraded Southwest Airlines from a “sell” rating to a “hold” rating and set a $52.00 target price on the stock in a research note on Tuesday, September 21st. Raymond James cut their target price on Southwest Airlines from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, November 29th. Finally, JPMorgan Chase & Co. upgraded Southwest Airlines from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $64.00 to $70.00 in a research note on Friday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Southwest Airlines currently has a consensus rating of “Buy” and an average price target of $56.28.

Southwest Airlines stock opened at $45.83 on Wednesday. The stock has a market cap of $27.13 billion, a P/E ratio of -904.80, a PEG ratio of 3.80 and a beta of 1.10. Southwest Airlines Co. has a fifty-two week low of $38.66 and a fifty-two week high of $64.75. The firm’s fifty day moving average price is $44.94 and its 200-day moving average price is $48.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.98 and a current ratio of 2.03.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Wednesday, October 20th. The airline reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. The firm had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.58 billion. Southwest Airlines had a net margin of 0.02% and a negative return on equity of 22.34%. The business’s quarterly revenue was up 161.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.99) earnings per share. Sell-side analysts predict that Southwest Airlines Co. will post -2.27 earnings per share for the current year.

In other news, Director Thomas W. Gilligan sold 11,188 shares of the company’s stock in a transaction on Wednesday, October 27th. The shares were sold at an average price of $47.34, for a total value of $529,639.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Southwest Airlines Company Profile

Southwest Airlines Co engages in the management of a passenger airline. It offers ancillary services such as earlybird check-in, upgraded boarding, and transportation of pets and unaccompanied minors. The firm operates in U.S. states, District of Columbia, the Commonwealth of Puerto Rico, Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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