Linda B. Rutherford, the Chief Administration Officer of Southwest Airlines Co. (NYSE:LUV), recently sold a portion of her holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Rutherford sold 3,849 shares of common stock at an average price of $34.395 per share. This transaction, completed on December 6, 2024, amounted to a total value of $132,386. The sale comes as the $20 billion airline shows strong momentum, with a 15.6% price return over the past six months. InvestingPro analysis indicates the stock is trading near its Fair Value, with analysts forecasting a return to profitability in 2024.
Following this sale, Rutherford retains direct ownership of 89,376 shares of Southwest Airlines. Additionally, she holds 1,661 shares indirectly through the company's Retirement Savings Plan, as noted in the filing. The stock currently offers a 2.1% dividend yield. Discover more insights about LUV and access comprehensive analysis with InvestingPro, which features additional ProTips and detailed financial metrics.
In other recent news, American Airlines Group (NASDAQ:AAL) Inc. and Southwest Airlines Co. have provided positive updates, with both companies outperforming the S&P 500 in recent times. American Airlines announced a new co-branded credit card deal, while Southwest Airlines reported early successes in their business model adjustments.
In contrast, CSX Corporation (NASDAQ:CSX) indicated that its fourth quarter would be negatively impacted by adverse weather conditions and a bleak coal export forecast. The company anticipates these factors will continue to affect the first half of 2025.
In legal developments, CSX has sought the Supreme Court's intervention to continue an antitrust case against Norfolk Southern Corp (NYSE:NSC). Meanwhile, Southwest Airlines has announced plans to initiate an additional $750 million accelerated share repurchase program in the first quarter of 2025.
JetBlue Airways (NASDAQ:JBLU) Corp. has seen significant operational and financial updates. The airline has promoted Justin Thompson to vice president of IT data and analytics as part of the company's JetForward strategy. Goldman Sachs reiterated its Sell rating on JetBlue shares, while Citi maintained its Sell rating but reduced the price target to $6.85.
Lastly, the Transportation Security Administration (TSA) recently experienced its busiest day in history, screening over 3.087 million individuals at airports across the United States. These are the recent developments in the airline industry.
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