Dorsey & Whitney Trust CO LLC maintained its position in shares of Southwest Airlines Company (NYSE:LUV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,038 shares of the airline’s stock at the end of the second quarter. Dorsey & Whitney Trust CO LLC’s holdings in Southwest Airlines were worth $313,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Origin Asset Management LLP boosted its holdings in shares of Southwest Airlines by 11.3% in the second quarter. Origin Asset Management LLP now owns 265,549 shares of the airline’s stock valued at $16,501,000 after acquiring an additional 27,000 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of Southwest Airlines by 214.2% in the second quarter. Bridgewater Associates LP now owns 167,833 shares of the airline’s stock valued at $10,429,000 after acquiring an additional 114,419 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Southwest Airlines by 13.1% in the second quarter. Ameriprise Financial Inc. now owns 8,836,067 shares of the airline’s stock valued at $549,016,000 after acquiring an additional 1,026,892 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Southwest Airlines by 1.7% in the second quarter. Teachers Advisors LLC now owns 1,096,668 shares of the airline’s stock valued at $68,147,000 after acquiring an additional 18,606 shares in the last quarter. Finally, Stephens Inc. AR boosted its holdings in shares of Southwest Airlines by 11.6% in the second quarter. Stephens Inc. AR now owns 46,647 shares of the airline’s stock valued at $2,899,000 after acquiring an additional 4,848 shares in the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.
Shares of Southwest Airlines Company (NYSE:LUV) opened at 54.72 on Friday. The firm has a 50-day moving average of $53.74 and a 200-day moving average of $56.91. Southwest Airlines Company has a 52-week low of $36.31 and a 52-week high of $64.39. The stock has a market cap of $32.75 billion, a P/E ratio of 16.78 and a beta of 1.29.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings results on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.04. Southwest Airlines had a net margin of 9.63% and a return on equity of 26.07%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts expect that Southwest Airlines Company will post $3.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s payout ratio is currently 15.34%.
In related news, Director William H. Dr Cunningham purchased 4,500 shares of the business’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price 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 approximately $3,616,326. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.
LUV has been the subject of several recent analyst reports. Cowen and Company reiterated a “buy” rating and issued a $67.00 price objective on shares of Southwest Airlines in a report on Friday, July 28th. BidaskClub cut shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Sunday, July 30th. Morgan Stanley reiterated an “overweight” rating on shares of Southwest Airlines in a report on Tuesday. Bank of America Corporation increased their price objective on shares of Southwest Airlines from $62.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 30th. Finally, Vetr cut shares of Southwest Airlines from a “buy” rating to a “hold” rating and set a $63.80 price objective for the company. in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Southwest Airlines currently has a consensus rating of “Buy” and a consensus target price of $67.77.
Southwest Airlines 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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