Harwood Advisory Group LLC boosted its stake in Southwest Airlines Company (NYSE:LUV) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 5,607 shares of the airline’s stock after buying an additional 51 shares during the period. Harwood Advisory Group LLC’s holdings in Southwest Airlines were worth $348,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. National Pension Service purchased a new stake in Southwest Airlines during the second quarter valued at about $141,000. Guardian Life Insurance Co. of America boosted its stake in Southwest Airlines by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock valued at $128,000 after buying an additional 15 shares during the period. Van ECK Associates Corp boosted its stake in Southwest Airlines by 6.6% in the first quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock valued at $135,000 after buying an additional 154 shares during the period. TrimTabs Asset Management LLC boosted its stake in Southwest Airlines by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,821 shares of the airline’s stock valued at $152,000 after buying an additional 1,328 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Southwest Airlines by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 3,488 shares of the airline’s stock valued at $184,000 after buying an additional 16 shares during the period. 79.72% of the stock is owned by institutional investors and hedge funds.
Southwest Airlines Company (NYSE:LUV) traded up 0.55% on Monday, reaching $62.27. 1,648,408 shares of the company’s stock were exchanged. Southwest Airlines Company has a 1-year low of $35.42 and a 1-year high of $64.39. The firm has a market capitalization of $37.65 billion, a price-to-earnings ratio of 18.68 and a beta of 1.29. The stock’s 50 day moving average price is $59.84 and its 200 day moving average price is $55.36.
Southwest Airlines (NYSE:LUV) last issued its earnings results on Thursday, April 27th. The airline reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.01. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.91 billion. Southwest Airlines had a return on equity of 26.75% and a net margin of 10.16%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. On average, analysts expect that Southwest Airlines Company will post $3.89 earnings per share for the current year.
Southwest Airlines announced that its board has authorized a share buyback program on Wednesday, May 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the airline to buy up to 5.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Southwest Airlines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, June 5th. Southwest Airlines’s dividend payout ratio is 15.11%.
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Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Southwest Airlines in a research report on Thursday. BidaskClub cut shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, June 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $66.00 price objective (up from $65.00) on shares of Southwest Airlines in a research report on Monday, July 10th. Finally, Vetr raised shares of Southwest Airlines from a “sell” rating to a “hold” rating and set a $62.02 price objective for the company in a research report on Monday, May 29th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Southwest Airlines presently has a consensus rating of “Buy” and an average price target of $63.80.
In related news, EVP Jeff Lamb sold 19,800 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $61.00, for a total value of $1,207,800.00. Following the sale, the executive vice president now owns 92,468 shares of the company’s stock, valued at approximately $5,640,548. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Gary C. Kelly sold 51,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $57.06, for a total transaction of $2,910,060.00. Following the completion of the sale, the chairman now directly owns 556,808 shares in the company, valued at approximately $31,771,464.48. The disclosure for this sale can be found here. Insiders have sold 118,740 shares of company stock worth $6,923,568 over the last three months. 0.18% of the stock is owned by corporate insiders.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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