Northwestern Mutual Investment Management Company LLC lowered its stake in Southwest Airlines Company (NYSE:LUV) by 80.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,378 shares of the airline’s stock after selling 99,991 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Southwest Airlines were worth $956,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of LUV. Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of Southwest Airlines by 1.1% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,748 shares of the airline’s stock valued at $846,000 after purchasing an additional 171 shares during the period. BB&T Corp lifted its stake in shares of Southwest Airlines by 13.5% in the 1st quarter. BB&T Corp now owns 6,218 shares of the airline’s stock valued at $334,000 after purchasing an additional 739 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Southwest Airlines by 10.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,710 shares of the airline’s stock valued at $1,651,000 after purchasing an additional 2,808 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Southwest Airlines by 11.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 211,051 shares of the airline’s stock valued at $11,339,000 after purchasing an additional 20,963 shares during the period. Finally, APG Asset Management N.V. lifted its stake in shares of Southwest Airlines by 10.1% in the 1st quarter. APG Asset Management N.V. now owns 4,037,493 shares of the airline’s stock valued at $217,056,000 after purchasing an additional 370,954 shares during the period. 79.42% of the stock is currently owned by institutional investors.
Southwest Airlines Company (NYSE LUV) traded down 0.138% during trading on Friday, reaching $54.275. The company had a trading volume of 3,036,000 shares. The company has a 50-day moving average price of $53.80 and a 200 day moving average price of $56.94. The company has a market capitalization of $32.49 billion, a price-to-earnings ratio of 16.644 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 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the business posted $1.19 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that Southwest Airlines Company will post $3.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is currently 15.34%.
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LUV has been the topic of several research analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $67.00 price objective on shares of Southwest Airlines in a research note on Friday, July 28th. BidaskClub downgraded Southwest Airlines from a “hold” rating to a “sell” rating in a research note on Sunday, July 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Southwest Airlines in a research note on Tuesday. Bank of America Corporation lifted their price target on Southwest Airlines from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Finally, Vetr downgraded Southwest Airlines from a “buy” rating to a “hold” rating and set a $63.80 price target on the stock. in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $67.77.
In related news, Director William H. Dr Cunningham bought 4,500 shares of Southwest Airlines stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through the SEC website. 0.21% 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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