Hartford Investment Management Co. reduced its position in shares of Southwest Airlines Company (NYSE:LUV) by 28.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 149,445 shares of the airline’s stock after selling 59,169 shares during the period. Hartford Investment Management Co.’s holdings in Southwest Airlines were worth $9,287,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of LUV. Guardian Life Insurance Co. of America raised its stake in shares of 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 worth $128,000 after buying an additional 15 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Southwest Airlines by 6.6% in the first quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after buying an additional 154 shares in the last quarter. National Pension Service bought a new position in shares of Southwest Airlines during the second quarter valued at $141,000. TrimTabs Asset Management LLC raised its position in shares of 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, Farmers & Merchants Investments Inc. raised its position in shares of Southwest Airlines by 2.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,632 shares of the airline’s stock valued at $164,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.
Shares of Southwest Airlines Company (NYSE LUV) opened at 54.72 on Tuesday. The firm’s 50 day moving average is $59.36 and its 200 day moving average is $57.29. Southwest Airlines Company has a 12 month low of $36.05 and a 12 month high of $64.39. The stock has a market capitalization of $32.75 billion, a price-to-earnings ratio of 16.78 and a beta of 1.26.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The business had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Southwest Airlines Company will post $3.80 earnings per share for the current fiscal year.
Southwest Airlines declared that its board has authorized a stock repurchase program on Wednesday, May 17th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the airline to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 24th will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. Southwest Airlines’s dividend payout ratio (DPR) is presently 15.34%.
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Several research firms have recently commented on LUV. Cowen and Company reissued a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a research note on Friday, July 28th. BidaskClub lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Morgan Stanley reissued an “overweight” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Southwest Airlines in a research note on Monday, July 10th. Deutsche Bank AG raised their target price on shares of Southwest Airlines from $63.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, Imperial Capital raised their target price on shares of Southwest Airlines from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $65.78.
In other Southwest Airlines news, Director William H. Dr Cunningham bought 4,500 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $54.00 per share, with a total value of $243,000.00. Following the completion of the purchase, the director now owns 66,969 shares in the company, valued at $3,616,326. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Mark R. Shaw sold 3,823 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $59.13, for a total value of $226,053.99. Following the completion of the transaction, the senior vice president now directly owns 7,784 shares of the company’s stock, valued at $460,267.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,740 shares of company stock valued at $6,923,568. 0.21% of the stock is owned by 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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