Huntington National Bank maintained its stake in shares of Southwest Airlines Co. (NYSE:LUV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,111 shares of the airline’s stock at the end of the second quarter. Huntington National Bank’s holdings in Southwest Airlines were worth $138,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in shares of Southwest Airlines by 1.7% in the first quarter. State Street Corp now owns 22,391,063 shares of the airline’s stock valued at $1,003,110,000 after buying an additional 373,352 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Southwest Airlines during the second quarter valued at approximately $246,179,000. Anchor Bolt Capital LP increased 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 valued at $183,710,000 after buying an additional 99,921 shares in the last quarter. BlackRock Group LTD increased 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 valued at $170,160,000 after buying an additional 204,229 shares in the last quarter. Finally, JPMorgan Chase & Co. increased 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 valued at $152,353,000 after buying an additional 1,065,198 shares in the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.
Southwest Airlines Co. (NYSE:LUV) traded down 1.79% during midday trading on Friday, reaching $38.47. The company’s stock had a trading volume of 6,932,903 shares. The stock’s 50 day moving average price is $37.46 and its 200-day moving average price is $40.56. The stock has a market cap of $23.86 billion, a price-to-earnings ratio of 10.20 and a beta of 0.80. Southwest Airlines Co. has a one year low of $33.96 and a one year high of $51.34.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 21st. The airline reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by $0.02. The company had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Southwest Airlines had a net margin of 11.95% and a return on equity of 34.25%. Southwest Airlines’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, analysts forecast that Southwest Airlines Co. will post $3.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, August 16th. Southwest Airlines’s dividend payout ratio (DPR) is presently 10.61%.
A number of equities analysts have recently issued reports on LUV shares. Credit Suisse Group AG restated an “outperform” rating on shares of Southwest Airlines in a research note on Wednesday, July 6th. Bank of America Corp. set a $50.00 price target on Southwest Airlines and gave the stock a “buy” rating in a research note on Saturday, October 1st. Buckingham Research downgraded Southwest Airlines from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Vetr downgraded Southwest Airlines from a “strong-buy” rating to a “strong sell” rating and set a $34.96 price target on the stock. in a research note on Monday, July 11th. Finally, Imperial Capital started coverage on Southwest Airlines in a research note on Friday, September 9th. They issued an “outperform” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $48.18.
In related news, insider Gary C. Kelly acquired 28,106 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the insider now directly owns 505,119 shares of the company’s stock, valued at $17,972,134.02. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark R. Shaw sold 1,776 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $37.62, for a total transaction of $66,813.12. Following the sale, 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. Insiders own 0.18% of the company’s stock.
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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