Palouse Capital Management Inc. decreased its position in Southwest Airlines Co. (NYSE:LUV) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 69,230 shares of the airline’s stock after selling 2,078 shares during the period. Palouse Capital Management Inc.’s holdings in Southwest Airlines were worth $2,715,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of LUV. State Street Corp increased its position in Southwest Airlines by 1.7% in the first quarter. State Street Corp now owns 22,391,063 shares of the airline’s stock worth $1,003,110,000 after buying an additional 373,352 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Southwest Airlines during the second quarter worth $246,179,000. Anchor Bolt Capital LP boosted its stake in shares of Southwest Airlines by 2.5% in the first quarter. Anchor Bolt Capital LP now owns 4,100,671 shares of the airline’s stock worth $183,710,000 after buying an additional 99,921 shares during the period. BlackRock Group LTD boosted its stake in shares of Southwest Airlines by 5.7% in the first quarter. BlackRock Group LTD now owns 3,798,226 shares of the airline’s stock worth $170,160,000 after buying an additional 204,229 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Southwest Airlines by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 3,400,713 shares of the airline’s stock worth $152,353,000 after buying an additional 1,065,198 shares during the period. 78.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Southwest Airlines Co. (NYSE:LUV) traded down 0.99% on Monday, hitting $36.87. The stock had a trading volume of 5,718,693 shares. The company has a market cap of $22.87 billion, a price-to-earnings ratio of 9.78 and a beta of 0.84. The stock has a 50 day moving average price of $37.02 and a 200-day moving average price of $40.91. Southwest Airlines Co. has a 12-month low of $33.96 and a 12-month high of $51.34.
Southwest Airlines (NYSE:LUV) last released its earnings results on Thursday, July 21st. The airline reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by $0.02. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. The firm earned $5.38 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the prior year, the business earned $1.03 earnings per share. Southwest Airlines’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Southwest Airlines Co. will post $3.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Tuesday, August 16th. Southwest Airlines’s dividend payout ratio is currently 10.61%.
LUV has been the subject of a number of analyst reports. Credit Suisse Group AG restated an “outperform” rating on shares of Southwest Airlines in a research note on Wednesday, July 6th. Buckingham Research cut Southwest Airlines from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Vetr cut Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $48.33 price objective for the company. in a research note on Wednesday, June 8th. Imperial Capital initiated coverage on Southwest Airlines in a research note on Friday, September 9th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Deutsche Bank AG restated a “buy” rating and set a $57.00 price objective on shares of Southwest Airlines in a research note on Saturday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Southwest Airlines currently has a consensus rating of “Buy” and an average price target of $47.85.
In other news, insider Gary C. Kelly bought 28,106 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average cost of $35.58 per share, with a total value of $1,000,011.48. Following the acquisition, the insider now directly owns 505,119 shares in the company, valued at $17,972,134.02. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Mark R. Shaw sold 1,776 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $37.62, for a total transaction of $66,813.12. Following the completion of the transaction, the senior vice president now directly owns 5,226 shares in the company, valued at $196,602.12. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company 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.
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