Fort Washington Investment Advisors Inc. OH trimmed its position in Southwest Airlines Company (NYSE:LUV) by 34.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,803 shares of the airline’s stock after selling 10,028 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Southwest Airlines were worth $1,169,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of LUV. BlackRock Inc. grew its stake in Southwest Airlines by 4,163.3% in the first quarter. BlackRock Inc. now owns 34,983,319 shares of the airline’s stock worth $1,880,703,000 after purchasing an additional 34,162,752 shares during the period. Ameriprise Financial Inc. grew its stake in Southwest Airlines by 80.3% in the first quarter. Ameriprise Financial Inc. now owns 7,809,175 shares of the airline’s stock worth $419,796,000 after purchasing an additional 3,477,912 shares during the period. Egerton Capital UK LLP grew its stake in Southwest Airlines by 39.0% in the first quarter. Egerton Capital UK LLP now owns 9,401,341 shares of the airline’s stock worth $505,416,000 after purchasing an additional 2,638,743 shares during the period. Boston Partners purchased a new stake in Southwest Airlines in the second quarter worth $153,454,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Southwest Airlines by 8,363.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,852,840 shares of the airline’s stock worth $99,609,000 after purchasing an additional 1,830,949 shares during the period. 79.42% of the stock is currently owned by institutional investors.
Southwest Airlines Company (NYSE LUV) opened at 54.72 on Friday. The stock’s 50 day moving average price is $53.74 and its 200-day moving average price is $56.91. The company has a market capitalization of $32.75 billion, a P/E ratio of 16.78 and a beta of 1.29. Southwest Airlines Company has a one year low of $36.31 and a one year high of $64.39.
Southwest Airlines (NYSE:LUV) last posted its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. Equities analysts forecast that Southwest Airlines Company will post $3.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. Southwest Airlines’s payout ratio is 15.34%.
Several equities research analysts have commented on the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $70.00 target price on shares of Southwest Airlines in a report on Thursday, July 13th. BidaskClub downgraded Southwest Airlines from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 target price on the stock in a report on Tuesday, June 27th. Finally, ValuEngine raised Southwest Airlines from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $67.77.
In other Southwest Airlines news, Director William H. Dr Cunningham acquired 4,500 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $54.00 per share, with a total value of $243,000.00. Following the transaction, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.
About Southwest Airlines
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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