Janney Montgomery Scott LLC raised its stake in Southwest Airlines Co. (NYSE:LUV) by 81.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,831 shares of the airline’s stock after buying an additional 68,768 shares during the period. Janney Montgomery Scott LLC’s holdings in Southwest Airlines were worth $6,258,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. Jaffetilchin Investment Partners LLC acquired a new stake in Southwest Airlines during the second quarter valued at about $769,000. Neuberger Berman Group LLC increased its stake in shares of Southwest Airlines by 103.9% in the second quarter. Neuberger Berman Group LLC now owns 120,458 shares of the airline’s stock worth $4,723,000 after buying an additional 61,369 shares during the period. I.G. Investment Management LTD. increased its stake in shares of Southwest Airlines by 14.6% in the second quarter. I.G. Investment Management LTD. now owns 6,003 shares of the airline’s stock worth $235,000 after buying an additional 765 shares during the period. Aviva PLC increased its stake in shares of Southwest Airlines by 11.3% in the second quarter. Aviva PLC now owns 127,726 shares of the airline’s stock worth $5,007,000 after buying an additional 13,019 shares during the period. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of Southwest Airlines during the second quarter worth $17,015,000. Institutional investors own 78.34% of the company’s stock.
Shares of Southwest Airlines Co. (NYSE:LUV) traded down 0.27% during mid-day trading on Friday, hitting $37.23. The stock had a trading volume of 3,605,731 shares. The firm’s 50-day moving average price is $36.99 and its 200 day moving average price is $40.94. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 9.88 and a beta of 0.84. Southwest Airlines Co. has a 12-month low of $33.96 and a 12-month high of $51.34.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, July 21st. The airline reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.02. Southwest Airlines had a return on equity of 34.25% and a net margin of 11.95%. The company earned $5.38 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Southwest Airlines Co. will post $3.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. Southwest Airlines’s payout ratio is presently 10.61%.
A number of brokerages have recently weighed in on LUV. Cowen and Company reiterated a “buy” rating on shares of Southwest Airlines in a report on Sunday, June 26th. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday, August 2nd. Zacks Investment Research downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Imperial Capital began coverage on Southwest Airlines in a report on Friday, September 9th. They issued an “outperform” rating and a $46.00 price target for the company. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $57.00 price target on shares of Southwest Airlines in a report on Saturday, June 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $47.85.
In related news, Director William H. Dr Cunningham bought 5,700 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average cost of $35.80 per share, with a total value of $204,060.00. Following the acquisition, the director now owns 56,283 shares in the company, valued at approximately $2,014,931.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary C. Kelly bought 28,106 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average cost of $35.58 per share, with a total value of $1,000,011.48. Following the completion of the acquisition, the insider now owns 505,119 shares in the company, valued at approximately $17,972,134.02. The disclosure for this purchase can be found here. 0.18% of the stock is owned by insiders.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines. Southwest is a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company serves approximately 100 destinations in over 40 states, such as the District of Columbia, the Commonwealth of Puerto Rico, and approximately seven near-international countries, including Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, and Belize.
Want to see what other hedge funds are holding LUV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southwest Airlines Co. (NYSE:LUV).
Receive News & Ratings for Southwest Airlines Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southwest Airlines Co. and related companies with MarketBeat.com's FREE daily email newsletter.