Chevy Chase Trust Holdings Inc. lessened its stake in Southwest Airlines Company (NYSE:LUV) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 482,095 shares of the airline’s stock after selling 40,419 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of Southwest Airlines worth $26,987,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of LUV. BB&T Investment Services Inc. raised its position in shares of Southwest Airlines by 325.5% during the 3rd quarter. BB&T Investment Services Inc. now owns 1,583 shares of the airline’s stock valued at $110,000 after acquiring an additional 1,211 shares during the last quarter. BDO Wealth Advisors LLC bought a new stake in shares of Southwest Airlines during the 2nd quarter valued at $102,000. Pittenger & Anderson Inc. raised its position in shares of Southwest Airlines by 13.5% during the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock valued at $130,000 after acquiring an additional 250 shares during the last quarter. Grove Bank & Trust raised its position in shares of Southwest Airlines by 365.0% during the 3rd quarter. Grove Bank & Trust now owns 2,395 shares of the airline’s stock valued at $134,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Harfst & Associates Inc. raised its position in shares of Southwest Airlines by 43.8% during the 2nd quarter. Harfst & Associates Inc. now owns 2,402 shares of the airline’s stock valued at $149,000 after acquiring an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 78.87% of the company’s stock.
Southwest Airlines Company (NYSE LUV) opened at $63.33 on Friday. The firm has a market cap of $37,579.26, a price-to-earnings ratio of 18.25, a P/E/G ratio of 2.10 and a beta of 1.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.61 and a quick ratio of 0.55. Southwest Airlines Company has a one year low of $48.71 and a one year high of $64.39.
Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, October 26th. The airline reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The firm had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 EPS. analysts predict that Southwest Airlines Company will post 3.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Wednesday, December 6th. Southwest Airlines’s payout ratio is presently 14.37%.
In related news, Director John T. Montford sold 935 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total value of $50,433.90. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.
LUV has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Southwest Airlines from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Vetr cut shares of Southwest Airlines from a “strong-buy” rating to a “buy” rating and set a $59.16 target price for the company. in a research report on Friday, September 22nd. Morgan Stanley set a $64.00 price target on shares of Southwest Airlines and gave the company a “buy” rating in a report on Thursday, August 17th. Deutsche Bank reissued a “buy” rating and issued a $71.00 price target on shares of Southwest Airlines in a report on Friday, October 27th. Finally, Cowen reissued an “outperform” rating and issued a $64.00 price target (up previously from $62.00) on shares of Southwest Airlines in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $66.89.
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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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